Tag Archives: Commercial Real Estate News

Pittsburgh Commercial Real Estate News Brief: February 2018

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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.

UPMC and University of Pittsburgh Announce Medical Development Project

Together, UPMC and the University of Pittsburgh announced plans for an Immune Transplant and Therapy Center in Bloomfield just one block away from UPMC Shadyside. The development follows the string of the $2 billion investment commitment to area specialty hospitals in the region, including the UPMC Vision and Rehabilitation Hospital, UPMC Heart and Transplant Hospital and UPMC Hillman Cancer Hospital.… Read More

Louisville Commercial Real Estate News Brief: February 2018

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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.

Louisville Industrial Market Maintains Positive Outlook Following Historic Development

After a historic 4.5 million square feet were delivered in 2017, Louisville’s industrial market success is expected to continue in 2018. Experts predict falling vacancies and rising rental rates as momentum picks up again the first half of the year.

A 224,000-square-foot warehouse on Technology Drive by WPT and a 324,000-square-foot warehouse on Minor Lane from Kelly Construction both delivered in 2017. Both properties are expected to be occupied by the second quarter in part due to favorable market conditions.… Read More

Commercial Real Estate News Brief: February 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 commercial real estate markets, coworking corporations and prestigious office space locations.

Investors Assess Real Estate Market Dynamics

JLL CRE News Brief

Newspaper image via NS Newsflash.

As commercial real estate markets continue to multiply in size and specialisms, no two cities are the same. A new article from JLL Real Views breaks down the peer groups of some of today’s top cities and how the market dynamics in each impact investment.

Factors like affordability and adaptability will continue to influence real estate investment and encourage modern cities to develop new, creative routes to success. And while elite players like London, New York and Hong Kong are positioned as global leaders, emerging mid-sized cities are catching the eye of investors and businesses.… Read More

Pittsburgh Commercial Real Estate News Brief: January 2018

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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 Pittsburgh.

Pittsburgh’s 1600 Smallman to be Transformed into One of a Kind ‘Industrial Chic’ Space

Developers of 1600 Smallman, located on the west end of the Strip District, are gearing up to transform the space into a true, first of its kind office in the Pittsburgh submarket. Formerly an industrial warehouse space, developers plan to take the vintage charm of the space and update it with modern amenities.

The building once sat vacant for 40 years, but will now undergo renovations, including:… Read More

Louisville Commercial Real Estate News Brief: January 2018

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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 Louisville.

Louisville to Expand Downtown Business Improvement District

Beginning in early 2018, the Louisville Downtown Partnership plans to expand the Business Improvement District, also known as the Louisville Downtown Management District.… 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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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

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.

Keep up with Spaces’ monthly recaps—subscribe today.

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

Pittsburgh Commercial Real Estate News Brief: September 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 Pittsburgh to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Downtown Pittsburgh Outpacing Suburbs with Office Tenants

Photo Credit: Mr.TinDC

The number of corporate office moves in the downtown Pittsburgh area is surpassing those in the suburbs, according to new Skyline research. Pittsburgh has seen a steady demand for office space in downtown’s most prominent buildings, keeping vacancy at 11.7%. So, what’s drawing tenants here?

While suburban properties still have their own perks, many companies are quickly realizing that downtown is where the young talent is. Likewise, it’s also where the competitive amenities are to retain their workforce. Many building owners are now also taking the plunge to upgrade office spaces with renovations to meet tenant demand.… Read More