Tag Archives: Commercial Real Estate Resources

Flexible Office Space is Creating Disruption in Midwest CRE

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By: Andrew Batson, Vice President, Director of Research

Flexible workspace is not just for millennial freelancers or tech startups anymore. Large, multinational companies are rapidly adding flexible workspaces to their global portfolios. Discover the global trends taking place within the flexible office sector and the implications for the Midwest, pulled from the complete Flexible Office Space Report.

The Ins and Outs of Flexible Office Spaces

Flexible space is a term used to describe a variety of office types used by occupiers to increase portfolio flexibility, reduce occupancy costs, and enhance collaboration. Co-working is the most common type, followed by executive suites and incubators. Co-working spaces and incubators tend to be located in downtowns or dense neighborhoods, while executive suites tend to be located in suburban areas near large employment centers.

Nearly half of corporations already use some type of flexible office solution, and by 2020, 65% of companies expect to incorporate co-working into their office portfolio.

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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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Commercial Real Estate News Brief: September 2015

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In the latest edition of our monthly news brief, JLL’s regional team curates the top industry articles to keep you in-the-know. In this month’s edition, JLL spotlights green building trends, the Detroit Free Press returning to market, and a new crowdfunding platform for restaurants.

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

JLL Supports Crowdfunding for Foodies

Bars and restaurants can revitalize a neighborhood.

With this belief, JLL has partnered with EquityEats, a crowdfunding platform for food and beverage businesses, to provide “capital raising solutions, connecting entrepreneurs and investors to the restaurant and bar industry.”

The concept is simple: JLL wants to support EquityEats’ mission to uplift communities and retail spaces with fresh new restaurants. In an investing activity that’s typically been done individually for restaurateurs, the crowdfunding platform will instead enable community members to support new restaurant projects.

EquityEats

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Commercial Real Estate News Brief: August 2015

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In the latest edition of our monthly news brief, JLL’s regional team curates the top industry articles to keep you in-the-know. In this month’s edition, JLL spotlights the latest technology trends in real estate, emerging biotech markets, and the booming intermodal industry in Columbus, Ohio.

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

The Tech Industry Drives CRE Revenue, Innovation

According to JLL’s CEO of Markets, John Gates, “Technological advances in the commercial real estate (CRE) sector have accelerated exponentially in the last few years impacting tenants, investors and brokers alike.” In his recent contribution to National Real Estate Investor (NREI), Gates outlined how the CRE industry has embraced technology in the following ways:

  1. Tech companies are growing and expanding. Tech companies made up 20.8% of U.S. leasing activity in the past year—and have left a major footprint on CRE market conditions. With declining office space in cities previously known to be tech hubs, new tech hotspots are surfacing across the country.
  1. CRE companies are adapting to technology. The industry itself is seeing an influx of new tools and platforms. According to Gates, “… even the most ‘old school’ real estate professionals are realizing how critical technology is to every phase of the real estate lifecycle.” CRE trends to watch include commercial drones, augmented and virtual reality programs, and experience-enhancing mobile applications for investors and tenants.

JLL is a leader in the commercial real estate tech space. In recent years, JLL has introduced new technologies to its tenant and investors including Blackbird, HiRise and Red.

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New, Million-Square-Foot Warehouse in Columbus Shows Continued Industrial Market Growth

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By: Dan Wendorf, Executive Vice President, JLL

Columbus is the industrial envy of other Midwest markets, with more than 219 million square feet of industrial space. And now—with just one new development—Columbus is adding another million to the books.

NorthPoint Development and JLL recently broke ground on a one million-square-foot warehouse in the Rickenbacker submarket of Columbus. See what’s happening now in Clayco’s real-time construction webcam.

NorthPoint Development

NorthPoint’s location selection was not on accident. Throughout Columbus, vacancy is down and demand is up, according to JLL Research. Columbus is the prime location for the brand new warehouse.

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500+ Executives in 30+ Countries Define the Status of Corporate Real Estate [REPORT]

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

What if you could curate the opinions of hundreds of leading commercial real estate executives around the globe? Would they agree on the current and future state of the industry?

As it turns out … great minds do think alike.

In JLL’s latest biennial survey, 540 executives from more than 350 companies and 36 countries weighed in on leading industry trends. We found that tough decisions are on the horizon for most CRE teams—ones that require a “challenge to the status quo, and a shift in the work-style and skills of CRE teams.”

Upon collecting and organizing the research data, JLL was able to narrow the results to four key takeaways. Read on for a glimpse into the survey’s insights, predictions and trends that will soon have major impact on industry norms.

4 Themes That Characterize Real Estate Today

The big question for all CRE teams and decision makers: how can we deliver the same value with a more efficient and business-aligned approach? Since its first global survey six years ago, JLL continues to evolve its own strategy based on feedback from professionals around the world. The answers to the questions on everyone’s mind are found in the four major themes below.

1. Centralization. When asked what changes respondents anticipate in the CRE team structure in just three years, more than half said teams are positioned for centralization and control. An astounding 92% of respondents had a dedicated global head of CRE, surpassing 86% in 2013.

What does it mean? Moving forward, CRE decisions can be more consistent for global, large-scale companies that may struggle to deliver consistent messages across borders. The importance of a CRE team is taking center stage.

 

Centralization

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Commercial Real Estate News Brief: June 2015

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In the latest edition of our monthly news brief, JLL’s regional team curates the top industry articles to keep you in-the-know. In this month’s edition, JLL spotlights trends in shared workspace, the future of vacancy in downtown Pittsburgh, and Midwest Real Estate News’ latest CRE Summit in Cleveland. 

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

Proworking Takes Co-Working to the Next Level

JLL CRE News Brief

Newspaper image via NS Newsflash.

Shared office space is no longer a trend reserved for techy startups. Co-working environments are drawing in entrepreneurs across the globe, according to a recent article in Real Views.

Co-working allows small businesses, entrepreneurs and freelancers to work in a shared office space, each one leasing a small desk or private office month-to-month. Thanks to its flexible, collaborative nature, co-working is often the perfect scenario for startups and freelancers that aim to take their venture to the next level.

The next step: Companies can make better use of underutilized space and flip the concept, through what we call “proworking.” The approach, coined by JLL, encourages organizations to strategically share and lease unused space with business partners or vendors.

Related read — Proworking: 4 Ways Office Space Can Increase Employee Productivity and Retention

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Tips To Leverage the Digital Skyline, for Tenants & Investors

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

JLL’s 2015 Digital Skyline provides unparalleled insights for more than 600 million square feet of commercial real estate in 47 cities across the U.S. and Canada. It offers investors and tenants alike a birds-eye view of national trends, plus an up-close look at local market performance.

Not sure how to use the digital tool? We’ve got you covered. Read on for actionable ways commercial real estate occupiers, owners and investors utilize the Skyline.

Related Post — Aim higher: JLL Presents The 2015 Digital Skyline

3 Tips for Business Owners & Corporate Executives

1. Strategize your next move. Are you approaching the end of a lease, or considering relocation?

The Skyline is fundamental in making your initial list of viable properties for relocation. You can zoom in on individual buildings, and check out current vacancy, rents, LEED certifications and more. Make better relocation decisions by comparing markets or buildings within your market.

Below, check out Key Bank’s building profile in Cleveland.

Key_Tower

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Is Your Workplace Culture-Friendly?

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By: Tim Kay, Managing Director, Project and Development Services, JLL

There is no singular, prescriptive answer to the question: what is the ideal office design? Every business demands custom design and functionality, all reflective of brand image.

One universal office space trend has emerged, however, and that’s culture. Next generation talent gravitates toward companies that emanate established, strong cultures. It’s also what keeps the current workforce there for the long haul.

Does your office space drive innovation, and reflect true brand identity and culture? If the answer is no, read on for insight into workplace trends that might (or might not) work for your business, as well as actionable tips for better alignment.

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Commercial Real Estate News Brief: May 2015

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In the latest edition of our monthly news brief, JLL’s regional team curates the top industry articles to keep you in-the-know. In this month’s edition, JLL spotlights foreign commercial real estate growth in the U.S., developer interest in Pittsburgh’s Carnegie Mellon project, and brand journalism trends in real estate.

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

Foreign Commercial Purchasing Surges on U.S. Soil

JLL CRE News Brief

Newspaper image via NS Newsflash.

In the first quarter of 2015, “commercial real estate transactions increased 45 percent by dollar volume,” according to research from Real Capital Analytics Inc., reported by Bloomberg. Demand is back—it’s raised competition among desirable properties, and encouraged investors to buy more rapidly throughout primary and secondary markets.

According to Real Capital, “Real estate deals surged $129 billion during the three months through March, marking the most active start to a year since 2007.”

Related Read: Aim Higher: JLL Presents The 2015 Digital Skyline

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