Category Archives: Workplace Strategy

JLL’s 2018 Fit Out Guide at a Glance

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In our quest to deliver insights to our clients and to create a customer experience that our competitors can’t touch, we introduce the 2018 Cost Fit Out Guide, along with Great Lakes specific reports. JLL’s 2018 Fit Out Guide is a comprehensive data-driven tool that provides a comparison and transparency of buildout costs across U.S. and Canadian markets. This year’s data includes cost by office style and cost by finish type.

The Basics of Office Fit Outs 

An office fit out is the final step in a new office journey in which the design, construction and furnish of the physical workplace takes place. Office fit outs can range in scope based on tenant needs and geography.

In our report, it’s assumed that the space is in its second generation and ready for tenant improvements. Each market’s fit out costs depict the average expenses of building a comparable, medium office space factoring in hard costs, soft costs, tenant factors, furniture, fixtures and equipment (FF&E).… Read More

Columbus’ Technology and Startup Scenes are On The Rise

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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

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

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

Commercial Real Estate News Brief: November 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 Urban Land Institute’s semi-annual survey, the rise of suburban office markets and a guide to model your office renovation process.

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Commercial Real Estate Industry Poised for Growth Through 2019

JLL CRE News Brief

Newspaper image via NS Newsflash.

The new semi-annual market survey from Urban Land Institute (ULI) is out, and according to new findings, things are looking up for commercial real estate. The industry is expected to see “moderated growth” through 2019, which includes rent growth, positive returns, and stable occupancy rates across all property types.

Specifically, the industrial sector is expected to pull ahead, largely fueled by the flourishing e-commerce and data center landscape. In fact, industrial is forecasted to grow roughly 3.7% over the next two years.

Visit Construction Dive for more highlights from the report.… Read More

A How-to Guide for Creating a Workplace that Works

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By: Tim Kay, Managing Director, JLL

“You can’t un-bake a cake. The key ingredients have to be in there from the start.”  – Tim Kay, Managing Director, JLL.

Tim Kay, JLL Managing Director, speaks at Hobbs+Black Architects on the importance of workplace design, wellness and technology.

Early this summer I was invited by Hobbs + Black Architects and Interior Environments to speak at an event in Ann Arbor, Michigan highlighting the increasing importance of technology, wellness and design in the workplace. Similar to baking a cake, creating a workplace that aligns with a company’s culture and meets the needs of its employees involves a fine-tuned mixture of essential ingredients.

Together, these ingredients can help create a recipe for workplace success:

1 Cup Examining Your Current Culture

Does your current workplace represent your company’s culture? Does the persona your company portrays through its brand, social media, website and advertising match the physical environment? Culture and brand must align in the workplace so those first impressions gathered by prospective employees are supported by their impression when they visit your office for an interview. If there is a lack of congruency, the likelihood of successfully recruiting that talent is slim.… Read More

Employee POV: What Makes JLL Center One of Pittsburgh’s Coolest Offices

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Courtesy of JLL

What makes an office cool? Flexible workspaces, breaking down silos and innovative tech solutions are a good place to start. All this paired with sweet skyline views and a prime go-to happy hour spot nearby doesn’t hurt either.

JLL Center at Tower Two-Sixty is a current example of all that a “cool” office space should include. Just last spring, Tower Two-Sixty became the new home of our Pittsburgh headquarters—JLL Center. One year later, it’s being recognized by the Pittsburgh Business Times as one of the coolest offices in the area. Located in the heart of the city, JLL Center fosters a modern, open and inviting environment featuring shuffleboard, cutting-edge technology and a patio overlooking Market Square.

JLLers across all departments are benefiting from the innovative workspace. But, don’t just take our word for it. Here’s what some had to say about the new office space:

Q: JLL relied on its own employees to shape workplace design and strategy. How do you see that employee-driven design implemented throughout the office space?Read More

Your Startup Needs an Office Space. Now What?

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By: Andy Effler, Senior Associate at JLL

JLL Senior Associate Andy Effler speaks at Columbus Startup Week. Courtesy of Columbus Startup Week

You’ve launched your startup, and so far, you’ve enjoyed the advantages of not necessarily needing a formal office space: cost savings, convenience, and no commute. But, growth is a milestone worth celebrating, and with that comes the need for a space for your business to thrive.

If your startup is fortunate to experience growth, the move to an office space can provide significant benefits. As your startup graduates from a garage or co-working space to that first office space, the move can also be a bit complex.

Researching, finding and finalizing contracts for an office lease can seem like a daunting task. To simplify the process, we created this list of five questions you should be asking when securing that first office space.

1. How long will the process actually take?

Startups often underestimate the time it takes to ultimately move into an office space for the first time. Keep in mind that several steps can take varying amounts of time, including:… Read More

Investor Refresher: The Basics of Increasing Commercial Tenant Satisfaction and Retention

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By: Jeff Adams, Vice President, JLL

Building ownership and management is a business. Thus, losing tenants, like clients, can directly impact your ultimate sucess.

It can take two years to regain lost income if a single tenant leaves according to our study, The Cost of Losing a Tenant. You must also account for construction costs and the absence of rent during leasing downtime.

As a landlord, it’s important to maintain a healthy portfolio of consistent, long-term tenants. To increase tenant retention and earn a consistent profit, you should put a strategic action plan in place to maintain current tenants. Through strategic management, the ultimate goal is to achieve building-wide tenant satisfaction.

Why? According to a survey done by Kingsley Associates, the likelihood of lease renewal is tripled when tenants are sufficiently satisfied with management.Read More

Higher Education Mandate 2017: Universities to Put Emphasis on Students, Faculty and Research

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By: Dean Monnin, Senior Vice President, JLL

Higher education

 

Now more than ever, both students and faculty are being more selective about the schools they choose to attend. With the amount students now pay for tuition, room and board, students expect modern amenities and world-class learning environments. Similarly, attracting top-tier faculty is just as competitive, as more schools look to implement the latest technology and research tools.

To accommodate, colleges and universities are turning to the private sector to help preserve resources and finding new ways to fund higher education construction. JLL’s Higher Education Mandate has identified four real estate trends that will impact universities this year.

1. Donors, Debt and Privatization Will Make New Buildings and Other Capital Projects Possible

Last year, education construction was at its lowest point in more than 15 years, while other industries experienced a 97% recovery peak in construction. As a result, many universities are turning to Public Private Partnerships (P3s) to fund facility development, as well as maintenance needed in older buildings.

P3s can ultimately help universities ease the burden of financial constraints while maintaining efficiency in the delivery of new construction and maintenance of it. In order for a P3 to be effective, however, universities will need to identify their key risks and how they should be shared among their public and private sectors.… Read More