Category Archives: Jones Lang LaSalle

Investors Drive Success in Pittsburgh’s Historic Buildings with Renovations

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Pittsburgh Renovations Report

Newly designed dynamic meeting space on the first floor of the Union Trust building in Pittsburgh.

Outside investment has been strong the last three years in Pittsburgh. As new owners are entering the market, they are breathing new life into the old office product and helping Pittsburgh keep pace with modern real estate trends.

Out of the current 28 office renovation projects, 11 have been completed. Thus far, the Union Trust Building has benefited the most. With just 39% occupancy when purchased out of bankruptcy in 2014, today the Trophy Class building is seeing over 91% occupancy; a more than 133% increase.… Read More

Pittsburgh Commercial Real Estate News Brief: March 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 Ranks in Top 20 Best Cities for Millennials

Pittsburgh was named on Niche’s Best Cities for Millennials list, landing in the no. 12 spot and surpassing cities like Chicago, Portland, Austin and Atlanta. The list takes into a count a number of factors to determine each city’s ranking, including:

  • Access to bars and restaurants
  • A city’s walkability
  • Ethnic, generational and economic diversity
  • Cost of living
  • A city’s higher education rate

Read More

Louisville Commercial Real Estate News Brief: March 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 Unveils Strategic 20-Year Growth and Development Plan

Louisville Metro Government released its comprehensive 20-year plan focused on land use, growth and development in the region through the year 2040. The new plan builds off of Cornerstone 2020—the plan used to guide the region from 2000 to 2020.

The 20-year plan focuses on walkability, green space, varying methods of efficient transportation along with a heavy focus on affordable housing development. Other pieces of the plan put emphasis on the potential redevelopment of vacant or abandoned lots and housing.… Read More

Ohio Commercial Real Estate News Brief: March 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.

Cleveland Emerging as a Healthcare Technology Leader

Cleveland is already a flourishing healthcare hub, but in the era of big data, it may surface as healthcare technology leaders as well, according to Healthcare Analytics News. If this rings true, both the local economy and human health will benefit.

Artificial intelligence (AI) marrying healthcare data is creating jobs and Cleveland plans to use this economic development to improve the region’s healthcare disparities. The intention is to invest in human potential in the area by assisting the staggering amounts of Cleveland residents living with physical and mental disabilities.… Read More

Commercial Real Estate News Brief: March 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 last mile delivery, open office concepts and data center trends.

Retailers Takeover Delivery to Meet Customer Expectations

JLL CRE News Brief

Newspaper image via NS Newsflash.

Retailers big and small rely on customer relationships to grow their business. In return, customers increasingly expect more efficient and effective order fulfillment and delivery. An article from JLL Real Views explains why and how retailers are focusing on the last mile of delivery to gain greater logistical control.

While few have taken action and implemented hands-on delivery due to cost, retailers recognize that current methods will soon be obsolete in the eyes of customers. Collaboration may be the solution needed to combat time and profitability pressures, and impress customers during one of the most crucial components of the purchasing process.… Read More

JLL People to Know Spotlight: Stephen Morris

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Stephen Morris works as an Associate in Office Landlord Representation in the Cleveland office of JLL. 

Courtesy of JLL

What are your key responsibilities?

As a Landlord rep, I’m constantly ensuring we’re marketing a property accurately with every tool available. More importantly, it’s my job to thoroughly understand clients’ (the landlord’s) key goals and to ensure these goals will be achieved when communicating with the brokerage community and customers.

When did you join JLL?

Just over two years ago. It was my first job out of school and I love it. It’s exciting, fun and challenging at the same time.

Where are you originally from?

Born and raised in Cleveland.… Read More

Pittsburgh 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 the Pittsburgh market.

UPMC and University of Pittsburgh Announce Medical Development Project

Together, UPMC and the University of Pittsburgh announced plans for an Immune Transplant and Therapy Center in Bloomfield just one block away from UPMC Shadyside. The development follows the string of the $2 billion investment commitment to area specialty hospitals in the region, including the UPMC Vision and Rehabilitation Hospital, UPMC Heart and Transplant Hospital and UPMC Hillman Cancer Hospital.… Read More

Louisville 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 the Louisville market.

Louisville Industrial Market Maintains Positive Outlook Following Historic Development

After a historic 4.5 million square feet were delivered in 2017, Louisville’s industrial market success is expected to continue in 2018. Experts predict falling vacancies and rising rental rates as momentum picks up again the first half of the year.

A 224,000-square-foot warehouse on Technology Drive by WPT and a 324,000-square-foot warehouse on Minor Lane from Kelly Construction both delivered in 2017. Both properties are expected to be occupied by the second quarter in part due to favorable market conditions.… 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

What Beer Can Do For Your City: A Grand Rapids Case Study

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By: Bob Horn, Senior Vice President, JLL and Harrison West, Research Analyst, JLL

What’s brewing up business in the Midwest? Look no further than Grand Rapids. With 7.2 microbreweries for each 100,000 residents, the city has earned the title of Beer City, USA—and rightfully so. With a rising number of breweries tapping into the Grand Rapids region, the city’s brewing economy continues to grow.

Today, Michigan is one of the top five pint producers in the U.S., thanks to the rise of the beer industry in Grand Rapids. In fact, the state’s beer industry alone accounts for $10.5 million. These breweries and pubs offer more than just a good time and tourist attraction; the industry contributes 34,390 jobs in Michigan. We’ll toast to that.

In our latest case study, What Beer Can Do for Your Town, we highlight several ways the industry has impacted Grand Rapids and the spaces brewers are eyeing up for their next venture.… Read More