Tag Archives: JLL Research

What Beer Can Do For Your City: A Grand Rapids Case Study

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By: Bob Horn, Senior Vice President, JLL and Harrison West, Research Analyst, JLL

What’s brewing up business in the Midwest? Look no further than Grand Rapids. With 7.2 microbreweries for each 100,000 residents, the city has earned the title of Beer City, USA—and rightfully so. With a rising number of breweries tapping into the Grand Rapids region, the city’s brewing economy continues to grow.

Today, Michigan is one of the top five pint producers in the U.S., thanks to the rise of the beer industry in Grand Rapids. In fact, the state’s beer industry alone accounts for $10.5 million. These breweries and pubs offer more than just a good time and tourist attraction; the industry contributes 34,390 jobs in Michigan. We’ll toast to that.

In our latest case study, What Beer Can Do for Your Town, we highlight several ways the industry has impacted Grand Rapids and the spaces brewers are eyeing up for their next venture.… Read More

JLL’s Roger Staubach Super Bowl Prediction: How Do Philly and Boston Stack Up?

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

JLL’s Roger Staubach, Executive Chairman and Hall of Fame Quarterback, is back with his prediction for Sunday’s big game. His pick? The Brady-led New England Patriots.

But, the win may only be by a small margin. If the Boston and Philadelphia office markets are any indication of what we can expect Sunday, be prepared for a close matchup. Both cities tout strong office markets, talent and innovative economies.

JLL has gone beyond athletic comparisons and instead used real estate data to help determine the Super Bowl winner since 2011. Since then, the firm has accurately predicted the winner 70% of the time based on vacancy rates, leasing activity, investor interest and more.

Hear more about Staubach’s Super Bowl 52 prediction in the video below.

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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

All Eyes on CLE: Why ‘The Land’ Is Capturing Investor Interest

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By: Andrew Batson, Director of Research, JLL

Cleveland Key Tower

Image Credit: Tim Evanson

Cleveland has earned national media attention for its continued revival—and it’s paying off. In just the last two years alone, office investment sales in Cleveland have totaled more than $550 million. In fact, sales volumes are approaching pre-recession levels with steady improvements since 2010. So, what’s catching the eye of these investors?

The city’s office market is tightening following a boom in demand for residential space from millennials, causing many former office buildings to be redeveloped into multifamily units. Because of the influx of young professionals downtown, businesses are also picking up on the perks of being in the urban core, which has heightened confidence from both in- and out-of-state investors.… Read More

Ohio 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 Ohio markets, including Cincinnati, Cleveland and Columbus.

Details Unveiled for Scioto Peninsula Development

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More details for the 21-acre mixed-use development along the Scioto Peninsula have been released. After being chosen as the site’s developer, Buckingham Companies announced plans for the following:

  • 1,700 total housing units, made up of condos and apartments
  • 800,000 square feet of office space
  • 150,000 square feet of restaurant and retail space
  • A boutique hotel with nearly 150 rooms

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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

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