Spaces Commercial Real Estate Blog | Ohio, Michigan, Kentucky and Western Pennsylvania > High Tech Industry

Category Archives: High Tech Industry

Job Incentives Fuel Real Estate Growth in Columbus

August 9, 20180 CommentsBy Suzanne Basista

By: Sam Stouffer, Senior Research Analyst, JLL

Discover the economic and real estate impacts of job creation incentives for both the industrial and office property sectors in the Columbus Region from the first installment of our Growing Columbus research.

Corner of shining blue skyscraper

Job growth in Columbus… Read More

Commercial Real Estate News Brief: June 2018

June 25, 20180 CommentsBy Suzanne Basista

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 implications of the U.S. labor shortage, how taxes are impacting where tech companies set up shop and how customer experience influences revenue growth at brick-and-mortar retailers.

Labor Shortage Impacts Commercial Real Estate

There is a mass labor shortage in the U.S. and it impacts commercial real estate. A recent report from JLL announced that roughly 6.3 million positions remained open but unfilled as of January 2018. This is a record high number and significant problem.

Columbus’ Technology and Startup Scenes are On The Rise

May 7, 20180 CommentsBy JLL Spaces

By: Andy Effler, Senior Associate, Tenant Representation, JLL

Editor’s Note: This article was originally published on the Columbus Chamber of Commerce’s blog.

It would be hard for a big venture fund to look me in the eyes and tell me that Columbus is still considered a “flyover city.” In fact, a strong argument can be made that Columbus has landed (pun intended) on the map for viable startup companies and venture funds looking for a hot Midwest startup ecosystem to launch, join or invest in. What’s more, beyond the headlines of venture backed startups, there are big waves coming out of the arts, food, beverage and fashion companies that are enriching our city. I’m confident in saying that we are crafting the right recipe for a very bright future in Columbus.… Read More

Commercial Real Estate News Brief: September 2017

September 22, 20170 CommentsBy JLL Spaces

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

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

Commercial Real Estate News Brief: August 2017

August 21, 20170 CommentsBy JLL Spaces

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 virtual reality in CRE, a rapid increase in commercial multifamily leasing, and modern architecture in city CBDs.

Keep up with Spaces’ monthly recaps—subscribe today.

Virtual Reality Enhances the Buying Experience for Prospective Tenants

Newspaper image via NS Newsflash.

Virtual reality (VR) technology is transforming the way real estate agents showcase and sell properties. VR software allows users to experience floor plans, views, lighting, landscaping and parking features from any device. As more industry professionals turn to VR for its added convenience, virtual tours will likely become the industry standard. As agents continue to seek profitable ways to implement the new technology, the VR market is expected to increase to $80 billion by 2025.

For now, real estate professionals are leveraging VR technology to offer an interactive experience that eliminates the need for on-site visits and enable tenants to better visualize spaces. Technologies like Matterport scans, Studio 216 and more allow clients to experience virtual spaces that feel real, which help when trying to visualize the look and feel of an office layout.

Pittsburgh Market Commercial Real Estate News Brief: May 2017

May 30, 20170 CommentsBy JLL Spaces

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.

Tech Companies Keep an Eye on Pittsburgh Market

Pittsburgh is already home to a number of tech giants like Google, Facebook and Uber. Now, Apple, which currently employs 1,275 people in the state, is considering expansion in its Pittsburgh locations.

It remains unclear whether the expansion would include the retail or corporate side; however, the company made big increases in its corporate office over the last few years. Upon arrival in 2001, the company employed just 10 people in its Three Crossings office. Today, it employs nearly 50, which includes mostly software engineers.

All the movement in the tech industry has had a significant, but positive impact on the city of Pittsburgh. According to a 2014 study, Pittsburgh ranked second in intergenerational upward mobility among large metro areas. This is largely due to the high number of tech, energy and robotics companies moving into the metro area.… Read More

Tech-Enablement: The New Driver of Office Design

September 13, 20160 CommentsBy JLL Spaces

By: Dave MacDonald, Executive Vice President at JLL

With ever increasing cloud adoption and demand for office flexibility, it’s no wonder that tenants have set their sights on tech-enabled workplaces. In fact, research has shown that a tech-enabled, cloud-computing workforce has higher levels of productivity and employee satisfaction.

Now more than ever, businesses nationwide are recognizing the benefits—and the need—for digital connectivity that extends well beyond their office layouts.

Closing the Gap in Tech Adoption

When you picture traditional office arrangements, you likely think cubicles, desktop computers with limited-to-no mobility, and separation between information technology (IT), architecture and design. But today, IT and audio/visual needs take up nearly 25% of the total build-out costs for offices, compared to just 7% ten years ago.… Read More

4 Trends Driving the Data Center Industry (and What It Means for Commercial Real Estate)

September 6, 20160 CommentsBy JLL Spaces

By: Christian Beaudoin, Midwest Markets Research Director and Andy Cvengros, Associate Director of JLL’s Technology Practice Group

Data center stocks experienced rapid, upward momentum throughout the early months of 2016, with an average gain of 19% during the first quarter and 50% in the second quarter.

What’s more, the cloud managed services market is forecasted to grow to more than $76 billion by 2021 globally (it’s currently at more than $35 billion!).

It’s clear that the future is bright for wholesale data centers. That said, providers must stay on the cutting edge to keep up with shifting sovereignty laws, high demand for cloud technology, and more sophisticated IT resource planning.

JLL’s newly released Data Center Outlook dives into the industry changes you should have on your radar. Read on to learn about how companies are adapting to the biggest data center trends.

Commercial Real Estate News Brief: November 2015

December 18, 20150 CommentsBy JLL Spaces

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 spotlights tech industry expansion, workplace wellness trends, and also zooms in on Cincinnati’s rebounding office market.

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

Midwest Markets Ready for Tech Growth

Think of the most robust tech markets in the country: Silicon Valley, New York and San Francisco likely come to mind. These cities are hot spots for some of the biggest names in the industry like Apple, eBay, Facebook and Google, just to name a few.

And now, the tech industry needs more room to grow.

“Expansion for the technology industry in 2015 is no longer just about the convenience of cheaper rents or accessing new talent pools. It’s a strategic necessity.” –JLL’s 2015 U.S. Technology Office Outlook

More than ever, tech companies are finding great success in establishing offices in secondary markets. Despite smaller cities and populations, these offices often manage larger staffs and “hold just as much strategic importance to their business plans,” according to an article from the World Property Journal.

Two of the top tech-friendly markets ranked by JLL include Detroit and Pittsburgh. For more information about the tech market conditions in your city, download the full report.

Tech Industry Demand Thrives in Detroit & Pittsburgh [New Research]

December 7, 20150 CommentsBy JLL Spaces

By: Dave MacDonald, Executive Vice President, JLL

Silicon Valley and San Francisco may be the strongest tech hubs in the country, but smaller markets are making their mark on the map.

In fact, two secondary markets in the Great Lakes, Detroit and Pittsburgh, made JLL’s list of “sweet spots” for young companies. Other cities on the list include the likes of Orlando, Raleigh-Durham, Milwaukee and Phoenix.

How did JLL determine the “sweet spots?”

In this year’s annual Technology Office Outlook, JLL unveiled its proprietary tool, the Locator Matrix. As defined by JLL, the locator tool helps growing startups and established tech firms determine the best location for company expansion. Based on cost and startup momentum, the tool ranks markets into four quadrants.

Below, I’ve included a sneak peak of the matrix. Download the full report for further explanation and recommendations.