Monthly Archives: February 2017

Pittsburgh Office Renovations Sweep Through Urban and Suburban Markets

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PittsburghThe workforce continues to develop and gravitate toward urban cores, which makes it necessary for companies to focus recruitment efforts there and in surrounding secondary markets. Pittsburgh is a prime example of a hot market for job seekers due to advancements in technology, energy and more. However, that doesn’t necessarily create cause for new construction.

In the Pittsburgh office market, rents have not achieved the rate necessary for new construction to be viable, even as tenant demand gravitates toward a higher quality space. Accordingly, investors are realizing the returns that value-add properties provide, and they are responding with 15 office renovation projects.

These renovations include historic downtown locations like The Grand at Fifth Avenue, as well as surrounding suburban office parks like Penn Center East. In total, the 15 projects will impact more than 4 million square feet of office space in the Pittsburgh market.… Read More

JLL Research: 3 Trends That Will Disrupt Contact Centers in 2017

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Contact Centers

Courtesy of JLL

By: Lisa Schunemann, JLL Healthcare Brokerage Analyst 

The contact center industry didn’t just exceed expectations in 2016; it outperformed global economic growth altogether. The demand for high-quality services and updated tech solutions continues to grow spending, revenue and the workforce in the industry. In fact, North American revenues reached $9.4 billion in 2015, up just over 22% from 2013.

Our newly released Contact Center Outlook report highlights the current state of the market, as well as the top three trends to keep an eye on this year that will impact the way these centers operate.… Read More

Commercial Real Estate News Brief: February 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 to keep you in-the-know. In this month’s edition, JLL spotlights executives’ optimism within the industry, varying supply rates and the changing retail landscape.

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New Survey Highlights CRE Executives’ Optimism on Industry Outlook

JLL CRE News Brief

Newspaper image via NS Newsflash.

New research released by KPMG LLP finds just over half—52%—of commercial real estate (CRE) executives believe improving real estate fundamentals will be the largest driver of their firm’s revenue growth this year.

A number of factors contribute to the overall positive outlook for executives, including an expanding economy and consistent interest in Class A properties in the U.S. Following the 2016 presidential election, financial markets are also expected to loosen, which will likely improve capital flow.

With improving financial markets, many companies are also expecting their real estate investment to increase. Approximately 22% of companies anticipate an increase between 5 and 10%. Due to an overall positive outlook in foreign investment, new investment in real estate will come from both existing investors and new market players.… Read More

Roger Staubach and JLL Predict a Patriots Victory for Sunday’s Big Game

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After successfully predicting last year’s champion, the Denver Broncos, JLL Americas Executive Chairman and Hall of Fame Quarterback Roger Staubach is predicting a Patriots win in Sunday’s big game.

Making predictions for football’s biggest event since 2011, JLL has accurately predicted the winner 70% of the time. Traditionally, predictions are based off of factors off the field, including:

  • Tenant and investor opportunities
  • Demand for premium office space and leasing activity
  • Economic factors, such as job growth

Cities with a positive economic outlook and strong real estate markets typically mirror that consistency on the field, too. And, as it turns out, Boston has way more to offer than just Tom Brady-led victories. Boston is succeeding in a number of industries, including education, technology, life sciences and more to drive job growth in the region.

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