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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Aim Higher: JLL Presents The 2015 Digital Skyline

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By: Andrew Batson, Senior Research Analyst at JLL

Are you an investor curious about market outlooks, or a tenant approaching lease expiration? Well, I have good news. The annual Skyline Review is back.

Each year, JLL’s research team analyzes the top North American skylines and gives investors and tenants alike a personal, up-close, look at some of the highest-profile commercial buildings and office towers in our cities. JLL notes, “These assets are the true drivers of leasing supply, demand, rents and development and serve as the building wish list for foreign and domestic institutional investors.”

The report provides a birds-eye view of local urban office markets, including both micro and macro-level statistics from floor-by-floor leasing to investment performance.

And now—for the first time ever—JLL is introducing the Digital Skyline.

JLL Skyline Blog Image

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‘Foodie Nation’ Drives Hunger for Retail Real Estate in Ohio

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By: Mary Bresnahan, Vice President with JLL and Melissa Ruther, Vice President with JLL. 

In 1992, Americans spent $163 dollars on groceries for every $100 spent dining out. But today, reservations are becoming a must and spend is shifting. According to JLL research, “Americans now spend more money at restaurants than they do at grocery stores.”

JLL Restaurant Retail

It’s no surprise that appetite for restaurant real estate has been insatiable in recent months. In fact, JLL’s new Retail Trend Alert revealed that four out of the five fastest growing retail categories included food-related industries. The rise of foodie culture is creating new, lucrative opportunities for commercial real estate tenants and investors alike. JLL research projects that the influence of restaurant growth on real estate could impact the industry by 55.4 million square feet.

JLL CRE Restaurant Retail

The new Retail Trend Alert dives into the rise of the “Foodie Nation,” and its impact across national retail sectors. Below, I’ve highlighted top trends identified in the report, as well as the current impact on our local market.

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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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Columbus CRE Summit Features JLL Market Expert

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By: Dan Wendorf, Senior Vice President, JLL

Last month, Midwest Real Estate News hosted more than 200 professional at the Columbus Commercial Real Estate Summit: A Gathering of Industry Experts. I was honored to speak alongside my fellow industry leaders on a panel featuring the importance of ROI in commercial real estate, spotlighting office, industrial, retail, as well as healthcare.

Speakers from leading firms collaborated on a panel called, “Apartment Market Is Hot: How Long Will It Last?” We also heard from a few industry titans on overall market conditions. Regardless of brand affiliation, it was clear that CRE industry leaders care about giving back to the community and helping businesses flourish in a growing market.

Did you miss the event? After chatting with and hearing from industry experts, I noticed a few key topics emerging in discussion. Stay in-the-loop with my three event takeaways below.

Image courtesy of Midwest Real Estate News Magazine

Image courtesy of Midwest Real Estate News Magazine

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