Commercial Real Estate News Brief: July 2018

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Every month, JLL’s regional team curates the top commercial real estate industry articles to keep you in-the-know. In this month’s edition, JLL spotlights why men prefer brick-and-mortar shopping, what to expect from the modern workplace and the impact of people moving to cities faster than jobs.

Men Still Want to Shop In-StoreCRE News July

A recent article from JLL shows that men prefer brick-and-mortar stores, which is part of the larger customer experience (CX) trend. Many men would rather go to a physical location where they can get a hands-on experience.

Why are men shopping in-store?

  1. Men want to touch and feel products before they buy them.
  2. Men want personalized convenience.
  3. Millennial men, in particular, are as interested in the shopping experience as the products they buy.

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Flexible Office Space is Creating Disruption in Midwest CRE

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By: Andrew Batson, Vice President, Director of Research

Flexible workspace is not just for millennial freelancers or tech startups anymore. Large, multinational companies are rapidly adding flexible workspaces to their global portfolios. Discover the global trends taking place within the flexible office sector and the implications for the Midwest, pulled from the complete Flexible Office Space Report.

The Ins and Outs of Flexible Office Spaces

Flexible space is a term used to describe a variety of office types used by occupiers to increase portfolio flexibility, reduce occupancy costs, and enhance collaboration. Co-working is the most common type, followed by executive suites and incubators. Co-working spaces and incubators tend to be located in downtowns or dense neighborhoods, while executive suites tend to be located in suburban areas near large employment centers.

Nearly half of corporations already use some type of flexible office solution, and by 2020, 65% of companies expect to incorporate co-working into their office portfolio.

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Commercial Real Estate News Brief: June 2018

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Every month, JLL’s regional team curates the top commercial real estate industry articles to keep you in-the-know. In this month’s edition, JLL spotlights the implications of the U.S. labor shortage, how taxes are impacting where tech companies set up shop and how customer experience influences revenue growth at brick-and-mortar retailers.

Labor Shortage Impacts Commercial Real Estate

Real Estate TrendsThere is a mass labor shortage in the U.S. and it impacts commercial real estate. A recent report from JLL announced that roughly 6.3 million positions remained open but unfilled as of January 2018. This is a record high number and significant problem.

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What Does the Future of Work Mean for You and Your Business?

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What does the future of work look like and how will your company fit in? Where, when and how we work is changing, which means workplaces are, too. While cubicles and single-person offices used to be the norm, many workplaces are shifting to more collaborative setups and offering flexible work options… Read More

Why Multi-Story Warehouses are Coming to America

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Editor’s Note: This post was originally published on JLL Real Views

For warehouses looking for space to grow in many of America’s big cities, the only way to go is up.

Take New York City. The rise of e-commerce and same-day delivery is ramping up demand for industrial space in one of the country’s biggest consumer markets. That demand is colliding with the city’s chronic land shortage — and city restrictions aimed at easing traffic congestion — leading some property developers to plan multi-story warehouses.… Read More

Drones: Giving You a New Perspective in Commercial Real Estate

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By: Jordan Phillippi, Associate Director, JLL

Time for a pop quiz: Drones are ____.

  1. A way to capture epic aerial footage.
  2. Key to industrial automation, including the ability to restock warehouse inventory.
  3. Able to deliver small packages (hello, logistics revolution).
  4. Regulated by the FAA.
  5. All of the above.

If you answered e, you’re correct. But, there’s more.… Read More

JLL’s 2018 Fit Out Guide at a Glance

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In our quest to deliver insights to our clients and to create a customer experience that our competitors can’t touch, we introduce the 2018 Cost Fit Out Guide, along with Great Lakes specific reports. JLL’s 2018 Fit Out Guide is a comprehensive data-driven tool that provides a comparison and transparency of buildout costs across U.S. and Canadian markets. This year’s data includes cost by office style and cost by finish type.

The Basics of Office Fit Outs 

An office fit out is the final step in a new office journey in which the design, construction and furnish of the physical workplace takes place. Office fit outs can range in scope based on tenant needs and geography.

In our report, it’s assumed that the space is in its second generation and ready for tenant improvements. Each market’s fit out costs depict the average expenses of building a comparable, medium office space factoring in hard costs, soft costs, tenant factors, furniture, fixtures and equipment (FF&E).… Read More

Commercial Real Estate News Brief: May 2018

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Every month, JLL’s regional team curates the top commercial real estate industry articles to keep you in-the-know. In this month’s edition, JLL spotlights the benefits of on-site childcare, how startup growth impacts CRE and rebounding retail sales.

On-Site Childcare Can Help You Win the Workforce

JLL CRE News Brief

Newspaper image via NS Newsflash.

A recent post from JLL Real Views calls companies to provide on-site childcare to help maintain a stronger workforce. Some experts have found that the skilled labor shortage in the United States can be combated if companies provide mother-friendly benefit packages because women with a desire to advance their careers are leaving the workforce because affordable, quality childcare is difficult to find.… Read More

Columbus’ Technology and Startup Scenes are On The Rise

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By: Andy Effler, Senior Associate, Tenant Representation, JLL

Editor’s Note: This article was originally published on the Columbus Chamber of Commerce’s blog.

It would be hard for a big venture fund to look me in the eyes and tell me that Columbus is still considered a “flyover city.” In fact, a strong argument can be made that Columbus has landed (pun intended) on the map for viable startup companies and venture funds looking for a hot Midwest startup ecosystem to launch, join or invest in. What’s more, beyond the headlines of venture backed startups, there are big waves coming out of the arts, food, beverage and fashion companies that are enriching our city. I’m confident in saying that we are crafting the right recipe for a very bright future in Columbus.… Read More

The 411 on the 412: What You Need to Know About Pittsburgh’s Bustling Market

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By: Tobiah Bilski, Director of Research, JLL 

One tangible way to see the economic health of a market is by looking at the real estate. While often thought of as a steel city, today Pittsburgh is a region that demonstrates deep sector diversity with software, robotics, medical devices, biotechnology, healthcare, information technology, business services and energy driving the economy. 

The 411 on the 412 was developed to provide an overview of the Pittsburgh market. Download the report and explore the largest development sites, how downtown retail is thriving and how the workforce is changing the game.

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