Tag Archives: Real Estate Trends

Commercial Real Estate News Brief: January 2016

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CRE Industry UpdateIn the latest edition of our monthly news brief, JLL’s regional team curates the top industry articles from December to keep you in-the-know. In this month’s edition, JLL spotlights tech innovation in commercial real estate (CRE), the energy industry’s impact on CRE, and Columbus’ economic success in 2015—plus your latest headlines across the region. 

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

CRE Tech Evolution: From Pen & Paper to Real-Time, Cloud-Hosted Data

Startups are revolutionizing CRE operations—from the slow-to-adapt, to the tech savvy.

And it’s about time, considering CRE is a major, $12 trillion information business according to a recent article via TechCrunch. With automation supporting the transactional side, brokers can sharpen focus to building lasting relationships.

Plus, real-time information and cloud-hosted databases allow for greater collaboration across teams and more streamlined workflows.

“Ultimately, these tools save agents time and their parent firms money, leading to leaner and more profitable businesses.” – TechCrunch

Across the industry, brokers with access to fast and accurate data will ultimately manage expensive commercial assets with greater ease and success. Read More

Tech Industry Demand Thrives in Detroit & Pittsburgh [New Research]

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By: Dave MacDonald, Executive Vice President, JLL 

Silicon Valley and San Francisco may be the strongest tech hubs in the country, but smaller markets are making their mark on the map.

In fact, two secondary markets in the Great Lakes, Detroit and Pittsburgh, made JLL’s list of “sweet spots” for young companies. Other cities on the list include the likes of Orlando, Raleigh-Durham, Milwaukee and Phoenix.

How did JLL determine the “sweet spots?”

In this year’s annual Technology Office Outlook, JLL unveiled its proprietary tool, the Locator Matrix. As defined by JLL, the locator tool helps growing startups and established tech firms determine the best location for company expansion. Based on cost and startup momentum, the tool ranks markets into four quadrants.

Below, I’ve included a sneak peak of the matrix. Download the full report for further explanation and recommendations.

Tech

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Law Firms Overrule Traditional Workplace Strategies

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By: Dan Adamski, Managing Director, JLL

Heading into 2016, law firm revenue is climbing. But with new challenges ahead, continued growth will be accompanied by higher rents and dwindling Class A office space in U.S. Central Business Districts. In fact, direct vacancy dipped below the single digits in many mid-sized markets, including Pittsburgh.

While the legal industry has traditionally preferred Class A and Trophy office spaces, law firms are feeling the pressure to seek alternatives. Moving away from downtown areas and into mixed-use spaces, some new-age law offices are even considered “the most efficient workspace designs available,” according to JLL.

Want more law firm insights? Download the full 2015 Law Firm Perspective for more trends and insights, plus statistics from 40 local office markets.

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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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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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JLL Employees: Win Lunch with Colin Dyer & an Apple Watch

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By: Anne Browning, Senior Manager Industry & Content Marketing

Calling all JLL employees: JLL has launched the 2015 U.S. Skyline Instagram contest!

Show us your city Skyline on Instagram to be entered to win lunch with JLL’s President and CEO Colin Dyer, along with an Apple Sport Watch.

The contest was launched to highlight the 2015 Digital Skyline and market listings. Snap a picture of your Skyline, and you might win big.

How to Submit Your Entry

  1. If you haven’t already, activate an account with Instagram. Include a photo of yourself, and a quick headline about you! Make sure your profile is public. While you’re at it, follow JLL on Instagram @JLLnews.
  2. Take and post a picture of your city to your Instagram. Include an interesting fact or tidbit about the market and the city.
  3. Finish the engaging content with hashtags: #JLLSkyline, #JLLEmployee and #ContestEntry.
  4. Include the link to the Digital Skyline: jll.com/skyline
  5. The most “likes” wins, so share your photo!

Captivating images and remarkable content will help your picture get more likes. The more creative, the better. Take it one step further and cross promote your post on other social platforms, like Facebook and LinkedIn. However, only Instagram likes will be counted in the official poll.

Note that your Skyline image may be featured on JLL’s social media and web pages. The photo with the most “likes” wins! Official contest rules are available upon request from spaces@am.jll.com.

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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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