Tag Archives: Commercial Real Estate Trends

Michigan 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 Michigan markets to keep you in-the-know.

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District Detroit Welcomes Residential Development Boom

District Detroit, the city’s major upcoming entertainment development, has announced plans for the city’s largest residential development in more than 20 years. The upcoming project will include the renovation of historic buildings as well as new construction.

Among buildings being redeveloped for multifamily housing, are:… Read More

Commercial Real Estate News Brief: June 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 impact of transit hubs, catering to the liquid workforce and the rise of fringe neighborhoods.

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Transit Hubs Become the Center of Commercial Real Estate Development

As more young professionals opt to walk or take public transportation to work, major cities, such as Cleveland, Columbus, Detroit and Pittsburgh, are directing efforts to revamp their public transit systems.

Approximately 87% of public transit trips have a direct impact on the economy as they deliver a larger talent pool and customer base to the city center. As the millennial workforce gravitates toward the urban core to work and live, cities are redesigning their public transit systems for enhanced comfort and convenience.

Improvements to public transit infrastructure have stimulated economic growth and commercial real estate development in the CBD as businesses buckle down to secure office space along the route. An increasing number of businesses are relocating to reap the benefits of social networks formed around the renovated hubs.

Young Professionals Demand Flexibility and Off-Site Work Spaces

As the workplace becomes increasingly digitized, employees are demanding more flexibility in their schedules. Changes in the work dynamic have reshaped the real estate landscape, as offices must now compete with off-site spaces, which offer more freedom for employees to work when they want.… 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.

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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

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 to keep you in-the-know. In this month’s edition, JLL spotlights healthcare real estate, future-proof office solutions and solar electricity benefits.

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Healthcare Real Estate Professionals Prepare for a Wave of Adjustments

The healthcare industry continues to evolve, which means real estate strategies for hospitals, practitioners and other medical offices do, too. Becker’s Hospital Review highlighted the six trends that will impact healthcare real estate this year:

  1. The repeal of the Affordable Care Act (ACA)
  2. Value-based reimbursement and changes to healthcare delivery setting
  3. Tax exempt hospitals coming under pressure
  4. Health systems monetizing real estate assets
  5. New rules impacting leasing arrangements
  6. Continuation of regulatory scrutiny

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Commercial Real Estate News Brief: February 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 to keep you in-the-know. In this month’s edition, JLL spotlights executives’ optimism within the industry, varying supply rates and the changing retail landscape.

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New Survey Highlights CRE Executives’ Optimism on Industry Outlook

JLL CRE News Brief

Newspaper image via NS Newsflash.

New research released by KPMG LLP finds just over half—52%—of commercial real estate (CRE) executives believe improving real estate fundamentals will be the largest driver of their firm’s revenue growth this year.

A number of factors contribute to the overall positive outlook for executives, including an expanding economy and consistent interest in Class A properties in the U.S. Following the 2016 presidential election, financial markets are also expected to loosen, which will likely improve capital flow.

With improving financial markets, many companies are also expecting their real estate investment to increase. Approximately 22% of companies anticipate an increase between 5 and 10%. Due to an overall positive outlook in foreign investment, new investment in real estate will come from both existing investors and new market players.… Read More

Commercial Real Estate News Brief: January 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 to keep you in-the-know. In this month’s edition, JLL spotlights drones’ impact on CRE, how autonomous vehicles will reshape cities, and how several local markets are creating a more ‘walkable’ downtown.

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Drone Technology Takes Off in CRE, Creates New Opportunities and Challenges

JLL CRE News Brief

Newspaper image via NS Newsflash.

Much like virtual reality (VR), drone technology has created new opportunities within the commercial real estate industry to streamline the transaction process.

Drones are unmanned aerial vehicles flown autonomously, and are used in a number of industries, including commercial real estate. How? With drone technology, prospective clients can view aerial property photographs or recorded video. This can help clients and investors determine the potential assets and challenges of a property. The end result is a faster transaction process, as clients have access to more property information than ever before.

One of the biggest challenges associated with drone technology, however, is current legal regulation. Commercial drone users often face difficulties determining who owns the airspace in which the drone is flying over. Similarly, the Federal Aviation Administration (FAA) ruled that operators of commercial drones must obtain a waiver for those participating and comply with a number of other regulations.… Read More

Commercial Real Estate News Brief: December 2016

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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 to keep you in-the-know. In this month’s edition, JLL spotlights the 2016 election impact, virtual reality in CRE and predictions for 2017 workplace strategy.

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Steady CRE Outlook Forecasted in Wake of 2016 Election

JLL CRE News Brief

Newspaper image via NS Newsflash.

Similar to the aftermath of previous elections, many business owners are entering a period of uncertainty as they await the potential changes ahead. Most markets have remained fairly quiet following Trump’s win, while others have reacted positively. U.S. 10-year yields are currently hovering at 2% (its highest point in nearly eight months), while other markets have remained resilient compared to the Brexit impact.

The impact of Trump’s victory on the commercial real estate industry is still fairly uncertain. Financial markets have reacted in stride, which will create some form of stability for real estate activity. Although regulations on the financial industry are expected to loosen, which may lead to some market volatility.… Read More

Commercial Real Estate News Brief: November 2016

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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 to keep you in-the-know. In this month’s edition, JLL spotlights CRM solutions for brokers, the future of digital workspaces and the 2017 construction forecast.

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CRE Brokers Turn to CRM Solutions

JLL CRE News Brief

Newspaper image via NS Newsflash.

Every dollar spent on a customer relationship management (CRM) system results in $8.71 back for businesses, according to Nucleus Research. That’s why more commercial real estate brokers are looking to implement CRM solutions. But how does the software actually help brokers?

CRM software helps businesses manage interactions with current and future customers via digital tracking and analytics. An enormous amount of data helps brokers foster relationships with clients—including lead and listing specifics. With a CRM, brokers can easily access customer information, determine appropriate follow-ups, and guide clients through the transaction pipeline.… Read More

Commercial Real Estate News Brief: October 2016

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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 local markets where your paycheck goes the furthest, foreign investment in U.S. CRE and Gensler’s 2016 Workplace Survey findings.

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Paychecks Go the Furthest in Midwest Cities 

JLL CRE News Brief

Newspaper image via NS Newsflash.

Local markets including Cincinnati, Cleveland, Columbus, Detroit, Louisville and Pittsburgh all ranked in Glassdoor’s Top 25 Cities Where Pay Goes the Furthest. The study compared each city’s median salary to its median home value, and also included number of available jobs.

Detroit claimed first place with a median base salary of $61,500 and median home value of $123,100, followed by Pittsburgh (No. 3), Cleveland (No. 4), Cincinnati (No. 7), Louisville (No. 10) and Columbus (No. 14).

The pay isn’t the only thing driving interest into these cities. As much of today’s workforce is made up of millennials, more downtown areas are being reinvented to fit their needs and wants. Cities in these regions—including Cleveland, Detroit and Columbus—have redeveloped much of their urban centers to appeal to this population. Many young professionals are also choosing to live in these secondary markets to take advantage of all the downtown perks at a significantly lower cost as compared to other popular markets, like NYC or San Francisco.

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Commercial Real Estate News Brief: September 2016

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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 top domestic distribution markets, the comeback of re-urbanization, and the increasing demand for work-life balance.

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

Southern Ohio, Northern Kentucky Rank Among Top Distribution Markets

JLL CRE News Brief

Newspaper image via NS Newsflash.

Cincinnati, Columbus and Louisville are taking the lead as three of the 18 top distribution markets in the U.S., according to JLL’s annual study. The top nine cities are ranked based on proximity to domestic population centers and corporate occupiers, while the bottom nine ranking is based on industry specialization and supply chain strengths.… Read More