Tag Archives: Tower Two-Sixty

Construction Outlook Shows Tenant Improvement Boom [INFOGRAPHIC]

0 CommentsBy

By: Andrew Batson, Senior Research Analyst at JLL

Office construction is up 32% since last year, according to JLL’s new construction outlook. Of the 86.3 million square feet under production, tenant improvement (TI) – or the renovation of existing space – is trending.

Office Construction

In fact, there’s been a 14.2% increase in TI since the second quarter of 2013. Rather than building new properties from the ground up, landlords are looking to reinvent and fill vacant space.

Why? As construction, material and labor costs steadily increase, revitalizing existing space makes landlords more competitive and tenants more profitable.

2015 State of Construction Industry

For top takeaways from JLL’s new construction outlook report, download the report.

Read More