Tag Archives: Workspace Trends

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

Co-Working Sparks a Real Estate Revolution

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By: Nick Francic, Senior Vice President, JLL

The co-working industry is thriving. More than 27 million square feet of space is home to co-workers across the U.S., according to a new report from JLL research. Many small businesses, startups and entrepreneurs are leaving the traditional office setting behind in exchange for the convenience, perks and community that come with a shared workspace.

Shared Work Spaces

And, with more and more emphasis on workplace design and strategy, the industry’s growth is no surprise. Companies like Regus, WeWork, Industrious, MakeOffices and others provide popular shared spaces packed with trendy amenities and the latest technology.

Bottom line: we don’t foresee the trend toward shared spaces slowing anytime soon.

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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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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: April 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, Detroit combines auto and tech industries for resurgence, and JLL leads by example in best practices for corporate office space and capital planning.

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

Detroit: No Longer Just the Motor City

JLL CRE News Brief

Detroit has always been known as the Motor City. But, as more and more young tech professionals flock to Detroit, the city’s identity evolves. Crain’s Detroit Business suggests that, in addition to automotive resurgence, the city is also becoming a national hub for technological innovation.
JLL research would agree, ranking Detroit among the top 34 high-tech markets in its latest High-Technology Office Outlook.

Luckily for Detroit, automotive technology is more sophisticated than ever before. In fact, companies like Google and Apple are developing autonomous cars. According to the article, “the auto industry has morphed into something very new, very different and very high tech.”

As Detroit’s tech industry grows, alongside an evolving auto industry, “Detroit is ready to drive itself to new levels of excellence and entrepreneurship on the brand-new road ahead,” according to Crain’s.

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JLL Experts: Rust Belt Critical to Future U.S. Economy

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By: John Sikaitis, Managing Director and Christian Beaudoin, Senior Vice President – JLL

John Sikaitis at a recent speaking engagement.

John Sikaitis at a recent speaking engagement.

While there’s fluctuation across the globe, the overall outlook for the U.S. economy remains strong. Thanks to an economic environment characterized by the continued elevation of corporate profits, the strongest job market since the late 90s and economic growth that is roughly 15 to 20 percent above levels in 2013, the U.S. dollar is at its highest level in years.

That momentum, coupled with a substantial drop in oil prices, is energizing consumers, fueling the highest consumer confidence level in eight years, which will drive enhanced growth to economic prospects over the next 24 months.

The same optimism exists for the commercial real estate industry in the U.S.

Net absorption topped 50 million square feet in 2014, a 38 percent increase from 2013; vacancy fell below 16 percent for the first time since 2008 and the American corporate is demonstrating increased signs of growing their real estate footprint. In the third and fourth quarter of 2014, 46 percent of tenants greater than 20,000 square feet completed leases with a growing real estate footprint—double the rate of any other point in this cycle. Across the vast majority of markets, the recovery has gained substantial momentum, fueling enhanced confidence from landlords and rent growth across 85 percent of the markets JLL tracks in the United States.

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JLL Investigates Open vs. Closed Office Space (Take the Survey Today!)

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In the past year, there has been an evident shift nationwide in office space trends.

Businesses large and small have moved from private, traditional office spaces (i.e. your average cubicle) to more open, collaborative spaces. Some made the update for employee recruitment and retention, while others firmly believe that the office space is a reflection of business culture.

While the open office does encourage a more engaged community, not all organizations agree that open spaces are the winning method. One BBC reporter even called the controversy, “the great office space debate.”

Over the past two years, this “debate” has captured the attention of national publications. The New Yorker took a negative stance, saying the open office had negative implications on cognitive performance and health; Fast Company didn’t agree, reporting that employees want more “energy and buzz.”

Here at JLL, it got us to thinking: What office space structures are working best for our local clients and businesses?

So, we are investigating. Instead of assuming, we’d like to hear your firsthand opinion on the workplace debate. JLL’s regional office is conducting a survey for local business professionals in OH, PA & MI. 

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How To Determine Your Law Firm’s Real Estate Strategy [VIDEO]

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By: Andrew Batson, Senior Research Analyst, JLL Great Lakes Region

Are you a leader in the legal field? Before making a decision about your law firm’s real estate, make sure you’re in the loop on the latest industry trends.

From office layout to city preference, the legal landscape is shifting. Below are a few top trends to consider before structuring your own real estate strategy.

  • Budget Allocation: Most U.S. markets are moving in favor of
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Attention Law Firms: Better Space Utilization Cuts Operating Expenses [Infographic]

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By: Andrew Batson,  Senior Research Analyst, Great Lakes Region

Like many businesses today, law firms are looking for ways to increase productivity and reduce spend. In 2013, many were able to do so through better, more efficient real estate strategies.

In the 2013 Law Firm Perspective, JLL researchers saw a trend toward smaller spaces. Those that moved last year relocated to offices that were 7.1% smaller. Plus, square footage per worker decreased significantly, ranging from 900 square feet to 550 square feet.

From a cost standpoint, those that move to more modern, and more efficient layouts can shrink their real estate occupancy budget by more than 15%.

Check out JLL’s full graphic for more on workspace trends we’re seeing in the legal space. 

A space to suit law firms – An infographic by the team at JLL

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