Tag Archives: Columbus Commercial Real Estate

Ohio Markets Commercial Real Estate News Brief: June 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.

Cleveland and Columbus Grow with New Multifamily Developments

Both Cleveland and Columbus are gaining national attention for their accelerated growth. Both cities are experiencing upticks in their downtown and metro populations. Columbus was recently ranked the 14th largest city in the U.S. while Cleveland saw a 76% increase in residents between the ages of 25-34 since 2000.

The population increases have contributed to the increased multifamily development in each city’s metro area. A new apartment development along the Scioto River was recently announced in Columbus. Similarly, the city of Cleveland has a number of multifamily projects in the works, including a 34-story tower in Playhouse Square and a $50 million development for Ohio City’s One Twenty West apartments.… Read More

Ohio Markets Commercial Real Estate News Brief: May 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.

Cincinnati’s Economic Report Highlights Major Wins, Future Growth

Cincinnati’s newly released 2016 Economic Development report not only covers the major successes from the past year. It offers a glimpse at the growth expected for the remainder of this year.

The city finished 2016 on a high note with more than $42.5 million invested in major city projects and economic development. Hefty housing and development projects created approximately 2,347 jobs and parking facilities saw a 25% increase in revenue. Some of the best news? The city has continued its growth trend with a number of projects already in the works for this year.

More than $355 million is being invested in Madisonville, including plans for a mixed-use site with office, retail and residential space, as well as an $80 million hotel. The Uptown Consortium is expected to create new jobs, with some even including job training for populations of people already living in the area.… Read More

Ohio Markets Commercial Real Estate News Brief: April 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.

Cleveland Among Top Cities to Watch for Tech Growth

Courtesy of JLL

Cleveland was recently ranked among the top five cities to watch for tech growth and development. A number of big-name tech companies have recently relocated into the city for its broad talent pool of young professionals and competitive office rental rates.

Tech companies like BrightEdge, originally out of Silicon Valley, and Dakota Software, originally out of New York, opened downtown offices for these reasons.

The city is also in the process of investing in and attracting eligible businesses to its Health-Tech Corridor on the East side. Throughout the corridor are leading biomedical and technology companies, like the Cleveland Clinic and Parker Hannifin. This corridor continues to expand, position Cleveland as a leader in technology.… Read More

Ohio Markets Commercial Real Estate News Brief: March 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.

Mixed-Use, Distribution Space Planned in Cincinnati

New mixed-use and distribution developments are in the works for Greater Cincinnati.

The Kroger Co. recently announced its upcoming development of a $60 million distribution center in Greater Cincinnati, which will also add nearly 100 new jobs this year.

The distribution center will be housed at Park 536 in Florence and will undergo construction to open later this year. The center will be used as a replenishment center to serve Kroger’s eastern direct-to-store distribution centers. Construction comes at an ideal time as growth in e-commerce continues to spur strong industrial market performance, including in the distribution and logistics sector.

A new $100 million mixed-use development will also begin construction in Montgomery, growing both in scope and size with the addition of 10 more acres of land. Though construction is pushed back, the site will include both commercial and retail space, as well as luxury condominiums, restaurants and a hotel.… Read More

Columbus Marketplace Sets New Standard for Startup Real Estate

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Editor’s Note: This article was originally published by the Columbus Chamber of Commerce
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By: Andy Effler, Senior Associate at JLL

The startup ecosystem in Columbus is demanding national attention from entrepreneurs, investors, and professionals everywhere. Why?

Columbus is 40% less expensive than Chicago and 60% less expensive than New York, according to Venture Ohio. What’s more, Central Ohio startups are growing at an unusually quick pace. Earlier this year, the Kauffman Foundation discovered that,More new businesses in Columbus grow to employ 50 or more people in their first 10 years than any major metropolitan area in the United States.”Read More

Commercial Real Estate News Brief: January 2016

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CRE Industry UpdateIn the latest edition of our monthly news brief, JLL’s regional team curates the top industry articles from December to keep you in-the-know. In this month’s edition, JLL spotlights tech innovation in commercial real estate (CRE), the energy industry’s impact on CRE, and Columbus’ economic success in 2015—plus your latest headlines across the region. 

Keep up with Spaces’ monthly recaps, and subscribe to JLL Spaces today.

CRE Tech Evolution: From Pen & Paper to Real-Time, Cloud-Hosted Data

Startups are revolutionizing CRE operations—from the slow-to-adapt, to the tech savvy.

And it’s about time, considering CRE is a major, $12 trillion information business according to a recent article via TechCrunch. With automation supporting the transactional side, brokers can sharpen focus to building lasting relationships.

Plus, real-time information and cloud-hosted databases allow for greater collaboration across teams and more streamlined workflows.

“Ultimately, these tools save agents time and their parent firms money, leading to leaner and more profitable businesses.” – TechCrunch

Across the industry, brokers with access to fast and accurate data will ultimately manage expensive commercial assets with greater ease and success. Read More

JLL’s Great Lakes Team Celebrates The Holiday Season By Giving Back

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By: Dan Wendorf, Executive Vice President, JLL

Across the Great Lakes, JLL gives philanthropy a starring role in holiday festivities. Every year, our teams in Cincinnati, Clevleand, Columbus, Detroit and Pittsburgh find new ways to connect with the community and give back to non-profits that we’re passionate about.

This holiday, employees in Cleveland and Columbus dedicated their time, energy, and resources to donate to those in need.

The Columbus office partnered with DawsonCareers to contribute to the Toys for Tots toy drive—all in the hopes of an even merrier Christmas for Central Ohio children.

Toys for Tots

(Above) JLL’s Columbus team donates gifts to Toys for Tots.

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Retailers: 2015 Holiday Shopping Revenue Looks Merry and Bright (REPORT)

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By: Mary Bresnahan, Vice President with JLL and Melissa Ruther, Vice President with JLL. 

The 2015 holiday season is projected to be merry and bright for retailers across the country. JLL recently conducted its annual Holiday Sentiment Report, which revealed retailers’ expectations and preparations for the upcoming holiday shopping season.

So what’s so special about this year? For one, the U.S. unemployment rate is at its lowest since 2008, which means more spending money for shoppers.

The calendar also plays a significant role in influencing consumer shopping patterns this year. With Christmas falling on a Friday (the first time this has happened since 2009), 71% of retailers predict after-Christmas shopping will boost holiday sales. The shopping season is also longer this year, with the time between Thanksgiving and Christmas extended by one day. The majority of retailers (68%) expect the extra day to have an impact on sales.

Holiday

Among the hustle and bustle of what looks to be a promising holiday season for retailers, how can your shop stand out and make a splash? Below we’ve identified three tips that will help drive sales, increase foot traffic, and unify the in-store and online shopping experience.… Read More

Tech Industry Demand Thrives in Detroit & Pittsburgh [New Research]

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By: Dave MacDonald, Executive Vice President, JLL 

Silicon Valley and San Francisco may be the strongest tech hubs in the country, but smaller markets are making their mark on the map.

In fact, two secondary markets in the Great Lakes, Detroit and Pittsburgh, made JLL’s list of “sweet spots” for young companies. Other cities on the list include the likes of Orlando, Raleigh-Durham, Milwaukee and Phoenix.

How did JLL determine the “sweet spots?”

In this year’s annual Technology Office Outlook, JLL unveiled its proprietary tool, the Locator Matrix. As defined by JLL, the locator tool helps growing startups and established tech firms determine the best location for company expansion. Based on cost and startup momentum, the tool ranks markets into four quadrants.

Below, I’ve included a sneak peak of the matrix. Download the full report for further explanation and recommendations.

Tech

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Data Center Market Moves to the Forefront of Real Estate Strategy [NEW RESEARCH]

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By: JC Pelusi, Market Leader, and Managing Director

The accessibility of big data has already revolutionized the way we do business … and it’s only the beginning.

Gartner predicted earlier this year that, “By 2020, information will be used to reinvent, digitalize or eliminate 80% of business processes and products from a decade earlier.”

As businesses become more sophisticated in the way they manage, store and interpret data, corporate norms will continue to shift. It’s not surprising then that data centers have become key economic drivers—creating new jobs, capital investment opportunities and strengthening surrounding business markets.

In the next five years, the data center market is projected to undergo exponential growth, according to JLL’s newly released 2015 Data Center Outlook. As businesses continue to outsource their IT systems, lease third-party data center facilities and incorporate cloud services, this market will continue to thrive.

Read on for trends affecting data centers and how your business can change its current strategy to align with the shifting market conditions ahead.

Factors Impacting Data Center Market Supply & Demand

Technological advancements and subsequent business practices are having a direct impact on data center supply and demand. Here’s what you should know.

What’s driving demand? 

Companies in the transportation and utility sectors, as well as local governments, have welcomed the benefits that come with the Internet of Things (IoT). Luckily, the IoT is still in its infancy. According to ABI Research the “Internet of things market will grow significantly from 1.2 billion business-to-business connections in 2013 to 5.4 billion connections in 2020.”

How does it relate to data centers? IoT is dependent on the data center market offering secure network connectivity and cloud storage for various devices and programs. Disaster recovery and the need for improved cyber security are also key focus areas for IT decision makers.

Demand

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