Category Archives: Commercial Real Estate News

Michigan Commercial Real Estate News Brief: February 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.

Proposed Grand Rapids Office Tower Would Offer New Class A Space

Developer Franklin Partners LLC’s proposed seven-story office tower would bring some much-needed Class A office space to Grand Rapids, which is currently experiencing a tightening market.

The 90,000-square-foot building would sit at the corner of Ottawa Avenue and Oakes Street SW, and would be constructed of glass and steel with competitive amenities, including a rooftop patio, fitness area and more. With this in mind, Franklin Partners Principal Don Shoemaker said rents could reach as high as $25 per square foot (psf).… Read More

Ohio Commercial Real Estate News Brief: February 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.

Cincinnati Ranks as a Top Visitor Hot Spot 

Cincinnati’s Over-the-Rhine neighborhood.

Rich with music and history, Cincinnati is cracking the top 5 list of visit-worthy cities in the US. Developing neighborhoods, such as Over-the-Rhine, attract visitors with must-try food, entertainment and craft brews.

The 140th Birthday of the Cincinnati Music Hall, 20th Annual Flying Pig races and Union Terminal’s renovations are a few of the historic and artsy attractions that make Cincinnati standout as city worth visiting now and for years to come. Cincinnatians already sing the praises of their city, and now an expected rise in visitors can experience the food and fun local residents enjoy.… Read More

Commercial Real Estate News Brief: February 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 rising commercial real estate markets, coworking corporations and prestigious office space locations.

Investors Assess Real Estate Market Dynamics

JLL CRE News Brief

Newspaper image via NS Newsflash.

As commercial real estate markets continue to multiply in size and specialisms, no two cities are the same. A new article from JLL Real Views breaks down the peer groups of some of today’s top cities and how the market dynamics in each impact investment.

Factors like affordability and adaptability will continue to influence real estate investment and encourage modern cities to develop new, creative routes to success. And while elite players like London, New York and Hong Kong are positioned as global leaders, emerging mid-sized cities are catching the eye of investors and businesses.… Read More

Pittsburgh Retail Team Announces Opening of Zelienople Anytime Fitness

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Anytime Fitness Strength Area

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JLL, Jared Imperatore and Rich Catalano today announced the opening of Anytime Fitness in Jackson’s Pointe, Zelienople Cranberry Township. This is Imperatore and Catalano’s third store together. They have been working closely for more than nine years and are happy to continue to grow the success of this national fitness club franchise together. The completed lease includes a 7,000-square-foot fitness facility with parking for guests.… Read More

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

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

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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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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

Commercial Real Estate News Brief: December 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 tax reform, technology in the CRE industry and mixed-use developments.

Tax Reform Brings Big Changes to the Commercial Real Estate Industry

JLL CRE News Brief

Newspaper image via NS Newsflash.

In case you haven’t heard, the House and the Senate released separate versions of the Tax Cut and Jobs Act earlier this month. With the new tax code, the CRE industry is expected to benefit from strong economic growth—especially in the retail sector.

With a lower corporate tax rate, CRE lending institutions, such as banks, should expect higher after-tax profits. Additionally, if there is an increase in interest rates, lending institutions will likely see an increase in the net-interest margin, boosting their profits. Likewise, CRE investment management firms may also see an increase in after-tax profits as a result of the lower rate.

To learn more about the new tax code and how it might impact the CRE industry, read our 2017 Guide to Tax Reform.

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