Yearly Archives: 2017

Ohio Markets Commercial Real Estate News Brief: November 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Ohio markets to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

The Need for Industrial Space on the Rise in Cincinnati and Columbus

Columbus, Ohio

Photo Credit: Always Shooting

It’s been a big year thus far for both Cincinnati and Columbus industrial markets. Cincinnati has experienced record-breaking activity since the start of the year, and total industrial vacancy sits at just 3.1%. Meanwhile, industrial vacancy in Columbus hovers near 4.4%.

To accommodate the rising demand, both cities are ramping up construction. Nearly 2 million square feet is currently being added to Cincinnati’s market, causing a much-needed uptick in vacancy.

Though Columbus is set to deliver 1.6 million square feet of space by the end of 2017, vacancy is expected to remain low. In fact, there is more than 9.5 million square feet of user demand in the market.

Download the Q3 Cincinnati Industrial Insight and Q3 Columbus Industrial InsightRead More

Commercial Real Estate News Brief: November 2017

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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 Urban Land Institute’s semi-annual survey, the rise of suburban office markets and a guide to model your office renovation process.

Keep up with Spaces’ monthly recaps—subscribe today.

Commercial Real Estate Industry Poised for Growth Through 2019

JLL CRE News Brief

Newspaper image via NS Newsflash.

The new semi-annual market survey from Urban Land Institute (ULI) is out, and according to new findings, things are looking up for commercial real estate. The industry is expected to see “moderated growth” through 2019, which includes rent growth, positive returns, and stable occupancy rates across all property types.

Specifically, the industrial sector is expected to pull ahead, largely fueled by the flourishing e-commerce and data center landscape. In fact, industrial is forecasted to grow roughly 3.7% over the next two years.

Visit Construction Dive for more highlights from the report.… Read More

How PropTech Is Changing the Future of Commercial Real Estate

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By: Dave MacDonald, Managing Director, JLL

Property technology, otherwise known as PropTech, refers to the innovation and origination poised to disrupt the way commercial real estate processes are done. While PropTech is not a new-to-the-industry concept, a new wave has presented even more sophisticated capabilities. Today’s PropTech is incorporating:

  • Artificial intelligence (AI)
  • Big data and analytics
  • Virtual reality (VR) and augmented reality (AR)
  • Computer aided design (CAD)

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6 Tips to Negotiate Your Commercial Lease Renewal

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By: Scott Pick, Managing Director, JLL

red scale negotiationsIt’s not uncommon for landlords to raise the rent when it comes time to renew your commercial lease. But, you don’t have to just accept your fate and pay more money. Lease renewal time presents an opportunity for companies to assess their current position as a renter, revisit the commercial real estate market and use that information to negotiate a better lease agreement.

For many, negotiation can be tricky and slightly intimidating.

Position yourself as a well-informed tenant armed with market knowledge to secure a better deal and earn back a portion of your occupancy costs.

Here are six helpful tips to consider during your lease renewal:… Read More

Pittsburgh Commercial Real Estate News Brief: September 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Pittsburgh to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Downtown Pittsburgh Outpacing Suburbs with Office Tenants

Photo Credit: Mr.TinDC

The number of corporate office moves in the downtown Pittsburgh area is surpassing those in the suburbs, according to new Skyline research. Pittsburgh has seen a steady demand for office space in downtown’s most prominent buildings, keeping vacancy at 11.7%. So, what’s drawing tenants here?

While suburban properties still have their own perks, many companies are quickly realizing that downtown is where the young talent is. Likewise, it’s also where the competitive amenities are to retain their workforce. Many building owners are now also taking the plunge to upgrade office spaces with renovations to meet tenant demand.… Read More

Louisville Commercial Real Estate News Brief: September 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Louisville to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

New Mixed-Use Property Begins Construction in Paristown

Photo Credit: Brent Moore

Construction on the $28 million mixed-use Paristown Pointe neighborhood is now underway. The project underwent strategic planning for nearly five years and was first announced in 2015. Developers and city leaders envision the development as an arts and cultural hub with a number of anchors.

Development plans include the following:

  • A $6 million renovation and expansion of Louisville Stoneware
  • A $1 million brewery / taproom from Goodwood Brewing Co.
  • A $12 million performance and entertainment venue for the Kentucky Center for the Performing Arts

Other project details include infrastructure improvements, like outdoor public space, building and landscape features, storm water infiltration and streetscape improvements. The entire development is expected for delivery by spring 2019.

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Michigan Markets Commercial Real Estate News Brief: September 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Michigan markets to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Downtown Detroit’s Little Caesars Arena Opens to Public

Photo Credit: City of Detroit

After a period of construction and anticipation, the new Little Caesars Arena opened to the public for its first open house and event. The new arena is set to become one of Detroit’s main entertainment staples, as it will house the Detroit Red Wings games among other large-scale events.

The arena is just one aspect of District Detroit, which will include 50 blocks worth of sports and entertainment venues, restaurants, bars and business buildings once completed. Take a look at Curbed Detroit’s photo gallery of the Little Caesars Arena for a closer look at the venue.

Related: Download the Q2 Detroit Office Report or Q2 Industrial ReportRead More

Ohio Markets Commercial Real Estate News Brief: September 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Ohio markets to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Columbus Radiates Tech Talent with Planned Addition of Facebook Data Center

The city of Columbus is boasting its plethora of tech talent again with the announcement of Facebook’s new $750 million data center coming to one of its most successful neighborhoods—New Albany. The new data center will be one of the biggest development project that Central Ohio has seen with 900,000 square feet of space between two buildings.

The data center is expected to bring nearly 100 jobs to the Columbus region—an area already rich with valuable tech talent. Columbus ranked in the top five markets for tech employment with rivaling numbers of computer programmers when compared to Sacramento or Austin. And, the city was recently named the top U.S. city for tech talent by a SmartAsset study.… Read More

Commercial Real Estate News Brief: September 2017

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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 internet of things, crowdfunding in CRE investment and hurricane preparedness in CRE.

Keep up with Spaces’ monthly recaps—subscribe today.

Internet of Things (IoT) Transforms Building Management

JLL CRE News Brief

Newspaper image via NS Newsflash.

How can building owners differentiate in a saturated marketplace? The answer is simple: By employing more intelligent building solutions.

According to Forbes, “A holistic, data-driven approach to real estate management is critical as we look into the future of workspaces.”

Building managers can leverage data collection for lighting, HVAC, security, etc. to advance energy and operational efficiency and ultimately improve the tenant experience. If executed properly, new technology combined with IoT creates a competitive advantage for more strategic and cost-effective facility management.… Read More

Pittsburgh Market Commercial Real Estate News Brief: August 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting the Pittsburgh market to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Pittsburgh Clusters into Defined Industry Neighborhoods

Photo Credit: Matthew Paulson

As Pittsburgh continues to attract large investments, new companies are locating where they see the most success for their specific industry. Companies are branching into clusters, creating a web of more clearly defined industry neighborhoods.

For example, technology companies are locating in the Fringe, Oakland and East End areas where they are in close proximity to the CBD and universities, such as Carnegie Mellon and the University of Pittsburgh. Similarly, energy companies tend to locate in the West and Southpointe areas, while law firms, financial companies and business services are most commonly found in the CBD.

Related: Download the Q2 Pittsburgh Office Report or Q2 Industrial Report 

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