Tag Archives: Midwest Real Estate News

A Floor-by-Floor Perspective of Midwest Real Estate: What Skyline Will We See in the Next Five Years?

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By: Andrew Batson, Director of Research, JLL

Increasing leasing activity, speculative development and shifting market leverage in commercial real estate are constantly reshaping city Skylines across the U.S.

JLL’s Skyline Review registrants can take a deep dive into the trends impacting 57 major skylines across the United States and Canada, and learn about which national trends are transforming markets close to home.

Read on for a closer look at how the Skylines in the Midwest are performing and what to expect in the coming months.

Mixed-Use Development is on the Rise in Cincinnati

Cincinnati’s Skyline is comprised of large office buildings that are occupied by large tenants, many of them recognized as Fortune 500 companies. Rental rates have dropped 0.7% from 2016 to Q1 of 2017. At the same time, vacancy rates remain well above the national average at 20.9%, which has boosted demand for affordable Class A space within the Skyline.… Read More

JLL Research: 3 Ways Reurbanization is Revitalizing Midwest Markets

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By: Andrew Batson, Director of Research, JLL

JLL Full Circle

While cities spread throughout the Heartland are still making their comeback, the economic and investment outlook is promising according to our new research, Full Circle. The report takes a deep dive into the growth and development occurring in each of our markets, including Ann Arbor, Cincinnati, Cleveland, Columbus, Detroit, Grand Rapids, Louisville and Pittsburgh.

So, what did our research find?

Cities across the region are in the middle of a major renaissance as reurbanization continues to draw people, business and investments toward the downtown areas.

1. Young Professionals Gravitate Toward the Urban Core, Creating Need for More Multifamily Development

The face of the urban cores is changing, with the majority of each market’s downtown population made up of the millennial generation (20- to 36-year-olds), followed by generation Z (0- to 19-year-olds).

As these younger generations flock downtown, the need for more multifamily development is increasing. Each market has experienced positive population growth since 2000. What’s more is residential population has also posted impressive numbers in each market, most notably in Detroit with a downtown population of 37,700 followed by downtown Pittsburgh with 33,000.… Read More

Midwest Real Estate News Recognizes JLL Experts in Its 2015 Commercial Real Estate Hall of Fame

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By: JLL Spaces

It’s official: Midwest Real Estate News has selected its sixth annual class of the Midwest Commercial Real Estate Hall of Fame (2015). Great Lakes leadership would like to congratulate JLL professionals included on this year’s roster: Rusty Myers, Executive Vice President in Cincinnati and Dan Wendorf, Managing Director in Columbus.

Both are exceptional leaders and producers in the Ohio marketplace, serving as go-to resources for commercial real estate insights locally and nationally.

Below, both leaders took a moment to share personal motivators and market predictions in 2016.

Q&A: JLL CRE Hall of Famer Rusty Myers

Rusty Myers About Rusty Myers: Myers has 30 years of experience in the Greater Cincinnati real estate market. He specializes in tenant representation and agency leasing for office clients, and provides acquisition, disposition and development services. Myers has been involved in more than 250 real estate transactions, many exceeding $300 million in value.

Q: What do you enjoy most about your work in CRE?

Myers: I enjoy the variety of what we do in our day-to-day roles. It often ties together finance, marketing, real estate and other specialty areas. Each day is different, allowing you to use your expertise in a variety of areas to help clients succeed.… Read More