‘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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The #FinTech Revolution: Trends in Banking & Finance (REPORT)

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By: Scott Pick, Executive Vice President, JLL 

The financial services industry is still in recovery mode. But, despite struggle, JLL’s newly released 2015 Banking and Finance Outlook found “the year-end financials revealed a healthier landscape overall.” Wages in the financial industry have grown faster than average – at 43.5 percent – since 2010, and corporate profits are reaching near record heights.

Maintaining momentum and growth will be critical in 2015.

Luckily, lower oil prices and rising interest rates will play in favor of the financial industry this year. JLL also pointed out three emerging trends that will make a lasting impact. Read on for details, or download the full report.

3 Banking Industry Trends

1. FinTech is innovating the industry. Financial technology, or FinTech, is a label for financial service firms that use technology to enhance products and services.

FinTech transforms traditional banking as we know it. While it’s caused some to cut back on space needs, it’s also opening the door for new opportunities. According to JLL, “…global banks are supporting FinTech lab space with the hopes of tapping into mobile, cloud, analytic, cyber security and regulatory innovations.”

What’s more, the FinTech landscape is exploding. The number of FinTech companies continues to grow—up 26 percent year-over-year. Watch JLL’s video below for what more to expect from FinTech in 2015.

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Commercial Real Estate News Brief: March 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 industrial growth in downtown Columbus, best practices for real estate investors, and the value of hiring a project manager.

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

Downtown Columbus Characterized by Strong Industrial Demand

JLL CRE News Brief

Newspaper image via NS Newsflash.

For both office and industrial space, Columbus is undergoing resurgence. On the industrial side, JLL’s Dan Wendorf told The Columbus Dispatch, “All the groundwork Columbus has laid the past few years is really coming to fruition.”

Thanks to consumers’ online shopping preferences, more and more warehouses are coming to central Ohio. According to JLL’s Columbus industrial report, industrial vacancy dropped from 12.4 to 6.1 percent.

You might be thinking, ‘Why Columbus?’ When it comes to transportation of goods, you can reach 47 percent of the national population within a ten-hour drive. Another big benefit: The low cost of doing business makes Columbus very professional-friendly. With 2.5 million square feet added during the fourth quarter of last year, Ohio’s capitol city can anticipate continued growth.

Download the full report for more information, Columbus: The Nation’s Industrial Hot Spot.

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Repetition Is Good When It Comes To Ethics

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By: Anne Browning, Marketing Director, JLL

For the eigth-straight year, JLL has been named one of the World’s Most Ethical Companies by the Ethisphere Institute. This award is particularly meaningful to me for two reasons:

1. What Future Employees Think

When I was interviewing with JLL over three years ago, I combed the corporate website for facts, figures and information to determine if there was a fit with my career aspirations and desired corporate culture. There, I discovered JLL has a 250-year history presented in a very cool timeline video. Impressive.

And globally, the firm is committed to sustainability both for itself and its clients. Even more impressive. Then I landed on an awards page. What caught my attention: JLL’s fifth straight year of winning the World’s Most Ethical Companies award. I paused for a good long while.

How could such a large, global organization with offices and employees on every continent speaking a multitude of languages and employing different lifestyles and customs maintain such an achievement year after year? To me that was most impressive, and honestly was a substantial factor in bringing me to the next phase of the interviewing process.


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Calling All Business Owners & Tenants: Should You Own or Lease?

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By: Rob Roe, Managing Director, JLL

JLL_Invest_Spend

There is no blanket response to the question, “Which is better for business, owning or leasing property?” Every business’ unique structure and qualities must be assessed to determine the right path.

What’s more, the decision has potential to have a disastrous (or extraordinary) effect on bottom-line business success.

Traditionally, business executives, like CEOs, CFOs or treasurers, made the own/lease decision. In recent years, however, corporate real estate directors have played a larger role in the process. Regardless of point person, expert insight is a must when it comes to one of the largest expenses within your budget.

Are you at the crossroads of purchase or lease? Read on for more insight on smart decision-making.

Starting Point: 3 Business Benchmarks

As you begin the process, there are three key benchmarks to consider. Ignore your initial preference, and keep an open mind. The following factors may sway your line of thinking and lead to a smarter decision-making in the long run.

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JLL Puts Culture & Philanthropy First

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By: Don Bain Jr., Executive Vice President, JLL

Check out the Cleveland team in action!

Check out the Cleveland team in action!

Every quarter, JLL’s Cleveland team takes time away from the office to give back to the community. Our latest philanthropic adventure: 20 JLL team members volunteered at the Cleveland Food Bank on February 12. The Food Bank fights hunger and seeks to “bridge the meal gap, connecting individuals with nutritious meals they need to succeed.”

The group dedicated their time to learning about the Food Bank’s mission and packaging 20-pound boxes of frozen meat to be distributed to local food purveyors for those in need. JLL also participated in “Adopt a Family” through Open Doors Academy during the 2014 holiday season.

Here at JLL, we are keen on culture and community. Giving back and getting out of the office together helps shape who we are as a team.

Plan Your Corporate Cleveland Volunteer Project—5 Ideas

There are a host of non-profit organizations in the Northeast Ohio region that welcome corporate groups for projects that are easy to coordinate with your busy office schedule. Below are a few ideas to get you started, many of which can be adopted no matter where you reside.

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JLL Makes Fortune’s 2015 Most Admired Companies

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By: JC Pelusi, Market Leader, Managing Director, JLL 

WMAC2014

A reflection on our internal culture, JLL was recently included in FORTUNE Magazine’s 2015 Most Admired Companies List. Apple ranked first overall, but many companies ranked just as high within their own respective categories. Experts in business, rather than the general public, provide their council to devise what has become known as the definitive corporate reputation report card.

JLL ranked first in the real estate industry for its global competitiveness and people management. FORTUNE also recognized JLL for industry leadership and strength in the following areas:

  • Innovation
  • Use of corporate assets
  • Social responsibility
  • Financial soundness
  • Long-term investment value

In the words of my colleague, Executive Vice President, Paul Tingley:

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Commercial Real Estate News Brief: February 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 examines global CRE investment, workplace strategy tips, and the revitalization happening in Detroit.

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

The State of Global Real Estate Investing

JLL CRE News Brief

Newspaper image via NS Newsflash.

Many were apprehensive to invest in commercial real estate after the recession. But, according to an The New York Times, it still makes sense to own properties through real estate investment trusts, called REITs, and exchange-traded funds.”

Why? Global REITs performed extremely well in 2014—setting the stage for success in 2015.

In other global news, Chinese buyers have been pouring money into U.S. properties.” Major deals include a $120 million investment from the Bank of China in a Chicago property (i.e. the future home of Google), as well as $296 million sale in San Francisco to a Chinese real estate firm. National Real Estate Investor has the details.

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