Monthly Archives: September 2014

JLL Investigates Open vs. Closed Office Space (Take the Survey Today!)

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In the past year, there has been an evident shift nationwide in office space trends.

Businesses large and small have moved from private, traditional office spaces (i.e. your average cubicle) to more open, collaborative spaces. Some made the update for employee recruitment and retention, while others firmly believe that the office space is a reflection of business culture.

While the open office does encourage a more engaged community, not all organizations agree that open spaces are the winning method. One BBC reporter even called the controversy, “the great office space debate.”

Over the past two years, this “debate” has captured the attention of national publications. The New Yorker took a negative stance, saying the open office had negative implications on cognitive performance and health; Fast Company didn’t agree, reporting that employees want more “energy and buzz.”

Here at JLL, it got us to thinking: What office space structures are working best for our local clients and businesses?

So, we are investigating. Instead of assuming, we’d like to hear your firsthand opinion on the workplace debate. JLL’s regional office is conducting a survey for local business professionals in OH, PA & MI. 

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How To Determine Your Law Firm’s Real Estate Strategy [VIDEO]

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By: Andrew Batson, Senior Research Analyst, JLL Great Lakes Region

Are you a leader in the legal field? Before making a decision about your law firm’s real estate, make sure you’re in the loop on the latest industry trends.

From office layout to city preference, the legal landscape is shifting. Below are a few top trends to consider before structuring your own real estate strategy.

  • Budget Allocation: Most U.S. markets are moving in favor of
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Commercial Real Estate News Brief: August 2014

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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.  

CRE Gets Techy with Hightower 

JLL CRE News BriefIt’s no secret that the commercial real estate (CRE) industry has generally taken a more traditional approach to day-to-day business operations. According to a recent Forbes article, that’s about to change: “It’s time for commercial real estate to get the tech startup treatment, ready or not.”

Enter, Hightower—a tool used by brokers and owners to “manage almost all of the aspects of leasing their buildings,” says TechCrunch.  The Hightower command center makes it easy to track all activity around current negotiations or deals. Plus, there’s an app for on-the-go brokers too.

JLL currently uses Hightower with its clients, among other tech tools.

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Detroit and Pittsburgh Selected Among JLL’s Top High-Tech Hubs [REPORT]

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By: Robert Kramp, Vice President and Director of Research, JLL 

In the latest High-Technology Office Outlook, JLL researchers ranked the top 34 high-tech markets in the U.S. Researchers selected cities based on traditional metrics, such as wage growth, intellectual capital, and venture funding—as well as nontraditional metrics, like amenities.

It’s no surprise to see cities like Boston, New York, and Silicon Valley on the list. But, this year, JLL was able to uncover several new emerging tech frontiers—including Detroit.

What’s Happening in High-Tech?

The high-tech industry has played a starring role in the office recovery. Nearly 22 percent of the 65.4 million square feet currently under construction in the United States is in tech-focused markets. And, the industry continues to drive job creation. At the end of July, there were an astounding 3.3 million high-tech positions.

At the center of market recovery, the high-tech industry has—in the process—revolutionized the design of the modern office space. From JLL’s report: 

“Never before has an industry single-handedly shaped the way we work together and how we configure space more than the high-tech industry. This has had broad implications on location choice, investment strategies, and market performance.”

Location, in particular, is key for high-tech success. As companies compete for talent, they look beyond traditional real estate in the hopes of creating a certain lifestyle for employees. Surprisingly, popular high-tech markets aren’t always urban. JLL research found that most high-tech hubs offer a mix of urban and suburban qualities. The suburbs are not dead. In fact, the high-tech industry is bringing more opportunity to markets outside of downtown areas. (See page 14 of the report for details.)

With ongoing innovation, JLL expects the upturn in high-tech to continue throughout 2014.

Detroit & Pittsburgh Make the Cut 

In our region, both Detroit and Pittsburgh made JLL’s list of high-tech hubs. Detroit was given a market score of 28.5, while Pittsburgh was graded at 35.7. According to the report, “This score is not a ranking per se, but it does quantify market position relative to the others based on employment growth, high-tech office employment concentration, market dynamism, innovation, and investment trends.”

High-tech-features-and-amenities

When you think high-tech, you might not think Detroit. But, you’d be wrong.

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