Category Archives: Workplace Strategy

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

Taking Notes from the Region’s Most Innovative Offices: 4 Tips

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By: Tim Kay, Managing Director, JLL

Above, JLL’s Detroit office brands itself with modern lounge areas, collaborative space and exposed ceiling beams.

As the fight for top talent grows even more competitive, office design is moving to the forefront of business strategy.

Tech leaders have forever changed workplace expectations. GoDaddy has go-karts for its employees at its headquarters in California, and Cisco Systems has an onsite health center.

While these companies are at the forefront of workplace innovation, we’re seeing trends from Silicon Valley and beyond trickle down into local cities in Ohio, Michigan and Pennsylvania.

Our local offices might not be as extreme (no, we’re not aware of a local office that’s home to go-karts), but we are moving into a new era for workplace design. So, what can you learn from some of the region’s most innovative spaces? We’ve highlighted four takeaways to incorporate into your next workplace strategy. … Read More

Tech-Enablement: The New Driver of Office Design

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By: Dave MacDonald, Executive Vice President at JLLjll_tech-enabled-workspace

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

JLL’s Pittsburgh Office Fit-Out Encourages Mixture of Collaboration and Innovation

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

JLL Pittsburgh_Int Conference Room Closed w People_Copyright Sarah Mechling (1)

Over the last 10 years, JLL’s Pittsburgh office has grown from 50 employees to roughly 450. In addition to our local brokerage team, the Pittsburgh office is also a national hub for the firm’s Lease Administration and Property Service Center teams—hence the need for a new and improved space.

In case you haven’t heard, our team moved into JLL Center at Tower Two-Sixty this past May. The new space includes three floors (55,000-square-feet) and a balcony overlooking Market Square. Our team is honored to join the city’s elite skyline, but it didn’t happen overnight.

For the fit-out of our new Pittsburgh office space, we handed the reins to a team of four women to lead the charge on workplace strategy and design. In this post, I’ll dive into the team’s process, plus a quick look at JLL’s newly finished office.

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Co-Working Sparks a Real Estate Revolution

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By: Nick Francic, Senior Vice President, JLL

The co-working industry is thriving. More than 27 million square feet of space is home to co-workers across the U.S., according to a new report from JLL research. Many small businesses, startups and entrepreneurs are leaving the traditional office setting behind in exchange for the convenience, perks and community that come with a shared workspace.

Shared Work Spaces

And, with more and more emphasis on workplace design and strategy, the industry’s growth is no surprise. Companies like Regus, WeWork, Industrious, MakeOffices and others provide popular shared spaces packed with trendy amenities and the latest technology.

Bottom line: we don’t foresee the trend toward shared spaces slowing anytime soon.

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