Category Archives: Midwest Real Estate

Job Incentives Fuel Real Estate Growth in Columbus

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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

Part Two: Six JLL Executives Named to Midwest Real Estate News Annual CRE Hall of Fame

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By: JC Pelusi, Market Leader, Managing Director, JLL

In part one of our two-part series on Midwest Real Estate News’ Annual CRE Hall of Fame, we shared more about three of our six Great Lakes Region honorees and what they enjoy most about the industry.

In part two of our two-part series, learn more about the final three honorees from our Ohio markets and how they’ve remained successful in the commercial real estate industry.

Editor’s Note: Originally published in Midwest Real Estate News’ Hall of Fame issue.Read More

Part One: Six JLL Executives Named to Midwest Real Estate News Annual CRE Hall of Fame

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By: JC Pelusi, Market Leader, Managing Director, JLL

We’re thrilled to announce that six JLL executives from our Great Lakes Region have been named to Midwest Real Estate News’ annual Commercial Real Estate Hall of Fame. We’d like to extend our congratulations to A.J. Weiner, Managing Director in Detroit, Bob Horn, Senior Vice President and Assistant Director in Grand Rapids, Joe Messina, Executive Managing Director in Cleveland, Collin Wheeler, Senior Vice President in Columbus, Doug Owen, Senior Vice President in Louisville, and Bill Poffenberger, Managing Director in Cincinnati.

Each of these six executives has their own unique skillset and is extremely talented, and well versed in their respective markets. In part one of our post, learn more about three of the six honorees and what they enjoy most about the industry.  

Editor’s Note: Originally published in Midwest Real Estate News’ Hall of Fame issue.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

A Floor-by-Floor Perspective of Midwest Real Estate: What Skyline Will We See in the Next Five Years?

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By: Andrew Batson, Director of Research, JLL

Increasing leasing activity, speculative development and shifting market leverage in commercial real estate are constantly reshaping city Skylines across the U.S.

JLL’s Skyline Review registrants can take a deep dive into the trends impacting 57 major skylines across the United States and Canada, and learn about which national trends are transforming markets close to home.

Read on for a closer look at how the Skylines in the Midwest are performing and what to expect in the coming months.

Mixed-Use Development is on the Rise in Cincinnati

Cincinnati’s Skyline is comprised of large office buildings that are occupied by large tenants, many of them recognized as Fortune 500 companies. Rental rates have dropped 0.7% from 2016 to Q1 of 2017. At the same time, vacancy rates remain well above the national average at 20.9%, which has boosted demand for affordable Class A space within the Skyline.… Read More

Who’s Winning the E-commerce Race? Midwest Real Estate Markets

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By: Matt Powers, Executive Vice President, JLL

Editor’s Note: This article was originally published on the NAIOP blog

Demand for industrial space across the U.S. is booming. In fact, the vacancy rate in industrial buildings dropped to 5.3 percent in the first quarter of 2017 — the lowest rate in 17 years. The active market is evidence that a shift in consumer shopping patterns has taken hold, changing the nature of warehouse demand. Responding to healthy consumer spending and growing e-commerce sales, the combined logistics and third-party logistics (3PL) sectors signed 21.8 million square feet of leases in the first quarter of 2017. This represents 24 percent of total leasing activity in the warehouse and distribution market.… Read More