Monthly Archives: January 2018

Pittsburgh Commercial Real Estate News Brief: January 2018

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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.

Pittsburgh’s 1600 Smallman to be Transformed into One of a Kind ‘Industrial Chic’ Space

Developers of 1600 Smallman, located on the west end of the Strip District, are gearing up to transform the space into a true, first of its kind office in the Pittsburgh submarket. Formerly an industrial warehouse space, developers plan to take the vintage charm of the space and update it with modern amenities.

The building once sat vacant for 40 years, but will now undergo renovations, including:… Read More

Louisville Commercial Real Estate News Brief: January 2018

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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.

Louisville to Expand Downtown Business Improvement District

Beginning in early 2018, the Louisville Downtown Partnership plans to expand the Business Improvement District, also known as the Louisville Downtown Management District.… Read More

Michigan Commercial Real Estate News Brief: January 2018

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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, including Ann Arbor, Detroit and Grand Rapids.

City of Detroit Looks to Redevelop Historic Apartment Buildings

Lee Plaza Detroit

City officials expect redevelopment of Lee Plaza to take two to five years.

The city of Detroit plans to submit redevelopment proposals for two historic buildings: Lee Plaza and Woodland Apartments. Both buildings were once luxury apartments back in the 1920s. The city of Detroit has expressed interest in allocating a certain number of multifamily units for individuals making $38,000 per year or less in order to attract and retain those of all income levels.

Once developers are selected, the city expects Lee Plaza to take two to five years to redevelop while Woodland Apartments are expected to take between one to three years.… Read More

All Eyes on CLE: Why ‘The Land’ Is Capturing Investor Interest

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By: Andrew Batson, Director of Research, JLL

Cleveland Key Tower

Image Credit: Tim Evanson

Cleveland has earned national media attention for its continued revival—and it’s paying off. In just the last two years alone, office investment sales in Cleveland have totaled more than $550 million. In fact, sales volumes are approaching pre-recession levels with steady improvements since 2010. So, what’s catching the eye of these investors?

The city’s office market is tightening following a boom in demand for residential space from millennials, causing many former office buildings to be redeveloped into multifamily units. Because of the influx of young professionals downtown, businesses are also picking up on the perks of being in the urban core, which has heightened confidence from both in- and out-of-state investors.… Read More

Ohio Commercial Real Estate News Brief: January 2018

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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, including Cincinnati, Cleveland and Columbus.

Details Unveiled for Scioto Peninsula Development

Flickr Creative Commons

More details for the 21-acre mixed-use development along the Scioto Peninsula have been released. After being chosen as the site’s developer, Buckingham Companies announced plans for the following:

  • 1,700 total housing units, made up of condos and apartments
  • 800,000 square feet of office space
  • 150,000 square feet of restaurant and retail space
  • A boutique hotel with nearly 150 rooms

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JLL People to Know Spotlight: Morgan Meade

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Morgan Meade works as an Analyst in the Integrated Portfolio Services (IPS) group in the Pittsburgh office of JLL. 

Morgan Meade | JLL

Years in the industry: 3 years

Favorite city: How can you pick just one? I love exploring new places and have actually lived in 10 different cities both domestically and abroad. Since joining JLL, I’ve been able to travel to at least 17 more—with some repeat trips.

Why did you get into real estate brokerage?

Real estate is intriguing because it can swing heavily creative and emotional one moment, but concrete and pragmatic the next, given the scenario or stage of the transaction. Our business, especially the Integrated Portfolio Services line, is highly entrepreneurial. Account teams have the opportunity to custom-build a micro-organization from the ground up and wear many hats. Consistent service delivery evolution is requisite in order to keep our clients on the cutting edge. I love the challenge and scope of skills real estate brokerage requires.… Read More

Commercial Real Estate News Brief: January 2018

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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 hotel industry, the rise of warehouse and distribution centers and cost-saving improvements to college campuses.

Hotels Seek New Opportunities to Stay Ahead of the Curve  

JLL CRE News Brief

Newspaper image via NS Newsflash.

The rise of the sharing economy has prompted hotels to explore new ways to add value to their current models.

In order to compete against companies such as Airbnb, hotels are shifting focus to creating a unique customer experience. Hotels in tourist hotspots such as Chicago and Detroit are becoming more modernized and are embracing advanced technology to increase productivity and to cater to the demands of millennial travelers.… Read More