JLL People to Know Spotlight: Morgan Meade

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Morgan Meade works as an Analyst in the Integrated Portfolio Services (IPS) group in the Pittsburgh office of JLL. 

Morgan Meade | JLL

Years in the industry: 3 years

Favorite city: How can you pick just one? I love exploring new places and have actually lived in 10 different cities both domestically and abroad. Since joining JLL, I’ve been able to travel to at least 17 more—with some repeat trips.

Why did you get into real estate brokerage?

Real estate is intriguing because it can swing heavily creative and emotional one moment, but concrete and pragmatic the next, given the scenario or stage of the transaction. Our business, especially the Integrated Portfolio Services line, is highly entrepreneurial. Account teams have the opportunity to custom-build a micro-organization from the ground up and wear many hats. Consistent service delivery evolution is requisite in order to keep our clients on the cutting edge. I love the challenge and scope of skills real estate brokerage requires.… Read More

Commercial Real Estate News Brief: January 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 the hotel industry, the rise of warehouse and distribution centers and cost-saving improvements to college campuses.

Hotels Seek New Opportunities to Stay Ahead of the Curve  

JLL CRE News Brief

Newspaper image via NS Newsflash.

The rise of the sharing economy has prompted hotels to explore new ways to add value to their current models.

In order to compete against companies such as Airbnb, hotels are shifting focus to creating a unique customer experience. Hotels in tourist hotspots such as Chicago and Detroit are becoming more modernized and are embracing advanced technology to increase productivity and to cater to the demands of millennial travelers.… Read More

Commercial Real Estate News Brief: December 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 the tax reform, technology in the CRE industry and mixed-use developments.

Tax Reform Brings Big Changes to the Commercial Real Estate Industry

JLL CRE News Brief

Newspaper image via NS Newsflash.

In case you haven’t heard, the House and the Senate released separate versions of the Tax Cut and Jobs Act earlier this month. With the new tax code, the CRE industry is expected to benefit from strong economic growth—especially in the retail sector.

With a lower corporate tax rate, CRE lending institutions, such as banks, should expect higher after-tax profits. Additionally, if there is an increase in interest rates, lending institutions will likely see an increase in the net-interest margin, boosting their profits. Likewise, CRE investment management firms may also see an increase in after-tax profits as a result of the lower rate.

To learn more about the new tax code and how it might impact the CRE industry, read our 2017 Guide to Tax Reform.

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JLL People to Know Spotlight: Justin Walbert

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Justin Walbert works as an Associate and Brokerage Analyst in JLL’s Retail Brokerage and Integrated Portfolio Solutions teams in the Pittsburgh office of JLL. 

Justin Walbert | JLL

Years in the industry: 6 months

Favorite Pittsburgh neighborhood: The Strip District

Why did you get into the real estate business?

Real estate has always interested me because it’s a very tangible industry.  Learning about a region’s real estate means you’re meeting real people and helping shape real neighborhoods.  Having that front row seat to all of the new development and watching Pittsburgh reinvent itself and enjoying its time in the spotlight as an up-and-coming world-class city has been very exciting.  Joining the team at JLL was the best decision for me professionally, and working for a firm that shares the same pride in Pittsburgh as its residents do makes the work we do even more rewarding.… Read More

Pittsburgh Commercial Real Estate News Brief: November 2017

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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 to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Healthcare and Tech Development Intersect in Pittsburgh

Much of the third quarter’s leasing activity comes from the robotics and technology industry in Pittsburgh.

Along with the technology industry, healthcare is also driving development in Pittsburgh. The University of Pittsburgh Medical Center (UPMC) was selected this year for the state’s Community HealthChoices managed care program, which means the medical center may be in need of more office space.

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Louisville Commercial Real Estate News Brief: November 2017

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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 to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Growth from “Big 3” Employers Drive Industrial Development in Louisville

Thanks to continued growth from the region’s three main employers—UPS, GE and Ford Motor Co.—the region is poised to attract more industrial development, including e-commerce fulfillment centers, pharmaceutical distribution operators and more. With strong confidence in the market, owners are empowered to consider portfolio expansion. A few of the most recent expansions come from Exeter and GLP, which both announced acquisitions in the third quarter of this year.

Though total industrial vacancy hovers near 10.7%, rental rates should stabilize as space is absorbed by the demand of tenants in the market.… Read More

JLL People to Know Spotlight: Matthew Hartlage

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Editor’s Note: This article was originally published in Louisville Business First.

Matthew Hartlage | JLL

Matthew Hartlage works as a Vice President of Brokerage in JLL’s industrial sector. He specializes in the leasing and sale of industrial properties throughout Louisville and Southern Indiana.

Years in the industry: 14

Favorite Louisville neighborhood: St. Matthews

Why did you get into the real estate business?

Real estate has always piqued my interest, and I wanted the opportunity to interact with businesses and owners in order to understand their operational needs so that I might become a trusted adviser able to assist with their real estate-related needs. Over coffee with a mentor in spring 2004, I realized seizing the chance to join the industrial team at Harry K. Moore Co. (now JLL) would be the perfect fit.

What are some up-and-coming areas to look out for in Louisville real estate?

The opening of the Lewis and Clark Bridge will continue to fuel growth in Southern Indiana, but Kentucky passing right-to-work [legislation] and proximity to Louisville International Airport/Interstate 65 corridor will continue to drive demand in established, infill locations.

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Tis’ the Season of Shopping: 4 Highlights from the 2017 Holiday Retail Survey

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By: Arthur Itkis, JLL Vice President, Retail and Jared Imperatore, JLL Vice President, Retail

The holiday shopping season is upon us and retailers are gearing up for a record-breaking season. JLL’s 2017 Holiday Forecast Report surveyed 300 global and national retailers for some insight into what we can expect this season, as well as consumer insight into what, where and when they’re purchasing gifts.

1. Kicking the Holiday Shopping Season Off Early

While there is much debate about when to officially start holiday shopping, this year, Americans will give themselves plenty of time to complete their holiday shopping leading up to Christmas.

More than half of consumers will begin their holiday shopping before Cyber Monday with 30% of shoppers starting between Halloween and Thanksgiving. However, 18.3% of Americans will wait until two weeks before Christmas to begin purchasing gifts. Once out and about, nearly 40% of consumers will visit six or more stores while shopping, with another 17% planning to visit ten or more stores.… Read More

Michigan Markets Commercial Real Estate News Brief: November 2017

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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 Michigan markets to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Industrial Market on the Upswing in Grand Rapids

Western Michigan’s industrial market is experiencing improvement with declining vacancies and steady rental rate growth. Demand for warehouse space is up and more than 1.5 million square feet of space has already been delivered this year.

Of all the projects in the pipeline, a recent one includes a two-building industrial site recently approved by the Michigan Strategic Fund (MSF). The potential project, led by the DEG Development Company, is expected to generate $12.3 million in investment. Construction will take place at 1810 Turner Ave. and will include one 70,150-square-foot building and one 126,750-square-foot building.

Download the Q3 Grand Rapids Office Insight and Q3 Grand Rapids Industrial InsightRead More

Ohio Markets Commercial Real Estate News Brief: November 2017

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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 to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

The Need for Industrial Space on the Rise in Cincinnati and Columbus

Columbus, Ohio

Photo Credit: Always Shooting

It’s been a big year thus far for both Cincinnati and Columbus industrial markets. Cincinnati has experienced record-breaking activity since the start of the year, and total industrial vacancy sits at just 3.1%. Meanwhile, industrial vacancy in Columbus hovers near 4.4%.

To accommodate the rising demand, both cities are ramping up construction. Nearly 2 million square feet is currently being added to Cincinnati’s market, causing a much-needed uptick in vacancy.

Though Columbus is set to deliver 1.6 million square feet of space by the end of 2017, vacancy is expected to remain low. In fact, there is more than 9.5 million square feet of user demand in the market.

Download the Q3 Cincinnati Industrial Insight and Q3 Columbus Industrial InsightRead More