By: Andrew Batson, Senior Research Analyst, Great Lakes Region, JLL
Q1 is a wrap, and things are looking up.
Market momentum in the national office market accelerated during the first quarter. JLL research found new demand drove significant absorption (8.4 million square feet), construction starts and increased rents for landlords.
Below is an excerpt from an article that was originally published by Heartland Real Estate Business (www.REBusinessOnline.com), reposted to this blog with permission from the Editor. Visit the full article for a more detailed look at how millennials are shaping commercial real estate demand.
By: Robert Kramp, Vice President and Director of Research, Jones Lang LaSalle, Midwest and Great Lakes Region
Yes, economic activity has seen an upturn in recent months, and many industries are feeling the positive return of economic acceleration. With the improved fundamentals comes a change in the future of office space as evidenced with trends in law firms.
For starters, JLL research has found that growth revenue levels for AmLaw 100 firms slowed in… Read More
Commercial real estate is a dynamic industry. Keep up with Spaces’ monthly recaps of the most valuable industry articles we’ve recently come across, focused on news in Ohio, Michigan and Pennsylvania.
City Skylines in Ohio, Michigan, Pennsylvania Experience Lively Activity
Local cities, including Cincinnati, Cleveland, Columbus, Detroit and Pittsburgh, experienced dynamic commercial real estate activity during 2013, according to JLL’s annual Skyline Review. But… Read More
By: Robert Kramp, Vice President and Director of Research, JLL, Midwest and Great Lakes Region
JLL research released this year’s annual Skyline Review, a showcase of “the luxury-end of the urban office sector” across 43 cities.
In the Great Lakes region, we observed dynamic, lively activity on our local city Skylines. Detroit is seeing renewed interested in downtown working and living, and Pittsburgh observed single-digit vacancy rates. But, what does it mean for our… Read More