Monthly Archives: March 2015

JLL Puts Culture & Philanthropy First

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By: Don Bain Jr., Executive Vice President, JLL

Check out the Cleveland team in action!

Check out the Cleveland team in action!

Every quarter, JLL’s Cleveland team takes time away from the office to give back to the community. Our latest philanthropic adventure: 20 JLL team members volunteered at the Cleveland Food Bank on February 12. The Food Bank fights hunger and seeks to “bridge the meal gap, connecting individuals with nutritious meals they need to succeed.”

The group dedicated their time to learning about the Food Bank’s mission and packaging 20-pound boxes of frozen meat to be distributed to local food purveyors for those in need. JLL also participated in “Adopt a Family” through Open Doors Academy during the 2014 holiday season.

Here at JLL, we are keen on culture and community. Giving back and getting out of the office together helps shape who we are as a team.

Plan Your Corporate Cleveland Volunteer Project—5 Ideas

There are a host of non-profit organizations in the Northeast Ohio region that welcome corporate groups for projects that are easy to coordinate with your busy office schedule. Below are a few ideas to get you started, many of which can be adopted no matter where you reside.

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JLL Makes Fortune’s 2015 Most Admired Companies

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By: JC Pelusi, Market Leader, Managing Director, JLL 

WMAC2014

A reflection on our internal culture, JLL was recently included in FORTUNE Magazine’s 2015 Most Admired Companies List. Apple ranked first overall, but many companies ranked just as high within their own respective categories. Experts in business, rather than the general public, provide their council to devise what has become known as the definitive corporate reputation report card.

JLL ranked first in the real estate industry for its global competitiveness and people management. FORTUNE also recognized JLL for industry leadership and strength in the following areas:

  • Innovation
  • Use of corporate assets
  • Social responsibility
  • Financial soundness
  • Long-term investment value

In the words of my colleague, Executive Vice President, Paul Tingley:

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Commercial Real Estate News Brief: February 2015

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In the latest edition of our monthly news brief, JLL’s regional team curates the top industry articles to keep you in-the-know. In this month’s edition, JLL examines global CRE investment, workplace strategy tips, and the revitalization happening in Detroit.

Keep up with Spaces’ monthly recaps, and subscribe to JLL Spaces today.

The State of Global Real Estate Investing

JLL CRE News Brief

Newspaper image via NS Newsflash.

Many were apprehensive to invest in commercial real estate after the recession. But, according to an The New York Times, it still makes sense to own properties through real estate investment trusts, called REITs, and exchange-traded funds.”

Why? Global REITs performed extremely well in 2014—setting the stage for success in 2015.

In other global news, Chinese buyers have been pouring money into U.S. properties.” Major deals include a $120 million investment from the Bank of China in a Chicago property (i.e. the future home of Google), as well as $296 million sale in San Francisco to a Chinese real estate firm. National Real Estate Investor has the details.

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Why Investors Look to Ohio for Industrial Real Estate (REPORTS)

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By: Robert Kramp, Senior Vice President and Director of Research, JLL, Midwest and Great Lakes Region

Ohio is a hot spot for industrial investors across the nation. In May 2014, a Minneapolis-based real estate investment group bought a $43 million, 767,000-square-foot portfolio in Northeast Ohio. Another example: A Chicago-based company purchased a 465,000-square-foot Columbus warehouse for $8.5 million in September.

The list of similar, out-of-state investors goes on. It’s more than a trend; Ohio has become an industrial hub. JLL research released three reports, spotlighting related activity in three of the nation’s most active cities—Cincinnati, Cleveland and Columbus.

Why Ohio?

  • The Heart of It All: Ohio is America’s heartland. When it comes to location, it has set up shop right on the nation’s metaphorical Main Street. With major airports, highways and rail lines intersecting throughout the state, Ohio is nationally and internationally accessible. Ohio’s transportation infrastructure is ideal for convenient and cost effective delivery.
  • Affordability: The Midwest, overall, dominates when it comes to cost-friendly living. A whopping five cities in Ohio made Forbes’ America’s Most Affordable Cities list, including Cincinnati and Columbus, as well as Dayton, Akron and Toledo. Housing affordability, cost-of-living index, and the methodology the Bureau of Labor Statistics uses for rankings of the Consumer Price Index were used to determine which cities made the cut.
  • Nurtures Business Success: From Cardinal Health and Google, to Kroger and The Limited Brands, many of America’s top Fortune 500 companies are already doing business in Ohio’s major cities.

In terms of industrial focus, three Ohio cities stand out among the rest, offering cost effective and opportunistic landscapes.

Cincinnati: Industrial and Logistics Hot Spot 

When it comes to local Fortune 500 companies (per million residents), Cincinnati beats out New York, Boston, Chicago and Los Angeles. Thanks to the low cost of business and favorable tax structure, Cincinnati’s environment is highly competitive, and therefore, has attracted both local and foreign investors. Currently, more than 50,000 Cincinnatians are employed by foreign-owned businesses.

Cincinnati_Cover

Over the past year, Cincinnati experienced increased commercial real estate activity from the e-commerce and manufacturing sectors. eBay is a key example, which recently pre-leased a 631,000-square-foot warehouse. Additional big-name manufacturing companies doing business in Cincinnati include GE and Proctor and Gamble.

  • More than 3 million square feet of space under construction.
  • 70% of space under construction is speculative.
  • More than 4 million square feet absorbed in 2014.

Check out JLL’s full report for more insight and statistics on Cincinnati’s emerging industrial scene.

Columbus-industiral

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