Florida Employment Update: May 2017

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Job growth in Florida slowed for the second straight month in April, with the state adding only 13,200 jobs from March to April. In addition, Florida’s payrolls have increased only 28,400 so far this year (non-seasonally adjusted) thanks in large part to a strong decline in jobs for the month of January – which is historically the case.

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Industrial Parks Reimagined

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Entertainment and warehouses don’t typically coexist, but Florida is about to see a revolution in the way it thinks of industrial parks. With the rise of e-commerce fueling a surge in industrial demand, savvy developers are learning it takes more than picnic tables to keep tenants happy, especially in cases where the workforce is on property around the clock. This is giving way to a new type of asset where industrial space is being… Read More

JLL Academy: 4 Tips to Get the Most Out of Your Mentor

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“Own the change and create it.” John Gates, CEO, Markets, Americas kicked off the annual JLL Academy last month in San Diego. At Academy, current and future JLL leaders are given a chance to network and build relationships at every level of the organization, and develop new skills in an environment that fosters growth through mentorship.

Breaking Through: 5 Questions with JLL’s Cecile Blanco

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To continue celebrating the accomplishments of our female leaders, we sat down with Florida’s woman-in-charge of all things marketing, for the next spotlight in our “Breaking Through” series. On the heels of impressive industry, peer and media recognition, Cecile Blanco, VP, director of marketing for Florida, shares her best advice and the struggles she overcame to get where she is today. Every quarter, “Breaking Through” articles feature JLL’s leading women professionals providing mentorship advice to… Read More

Can Florida’s Economy Take a Punch Better Than It Could in 2007?

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Amid major geopolitical and economic developments that occurred in 2016, there is an air of uncertainty regarding the future of Florida’s economy. While some anticipate continued economic expansion—at least within the US—others fear a recession may be on the horizon.

Fort Lauderdale JLL Skyline

skyline of Fort Lauderdale seen

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Tampa’s Challenging Industrial Market

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We sat down with JLL Associate, Ryan Vaught, to learn about the challenges being presented in the Tampa industrial real estate market.

What is the largest challenge facing Tampa’s industrial market today?

Year-end vacancy in the Tampa market is at an all-time low, most notably in Pinellas county. There is a clear lack of available space, and the small amount of space that is available is not of a high quality. For this reason, tenants are… Read More

Jacksonville’s Retail Rebound

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Of all of Florida’s major cities, Jacksonville has struggled the most to recover from the economic recession of the mid-2000s. But now a surge in new development, rise in population and consecutive quarters of growth have led to an occupancy rate of 92.1%, which has breathed new life into Jacksonville’s retail market. This shift in dynamics means that Jacksonville is enthusiastically bouncing back to pre-recession levels.

Industrial Real Estate Surge Sweeps Florida

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To many leading experts, the future of Florida’s commercial real estate market lies within the industrial sector.  At a recent CRE panel, Scott Gregory, Vice President of Prologis, a global leader in industrial real estate development and logistics, explained that advancing technology is a driving factor behind a surge in industrial activity.

One way new technologies effects on the industrial market and logistics has been the rise of e-commerce, particularly as it relates to next… Read More

Rising Demand For Office Space Makes Downtown Fort Lauderdale a Landlord’s Market

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Broward county, typically known for its beaches and shopping, is making a new name for itself as a business hub as more and more companies are entering the Downtown Fort Lauderdale market. According to JLL’s Q3 2016 Office Insight, Fort Lauderdale’s Class A assets are thriving in a tight market. Direct vacancy in Broward has declined 80 basis points quarter over quarter to 11.9%, making the third quarter the strongest for vacancy declines over the past 24 months. The growth… Read More

On the Horizon: 2017 Florida Commercial Real Estate Outlook

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We sat down with JLL Florida Research Manager Marc Miller to hear his thoughts on the trends that he believes will shape the commercial real estate industry in 2017.  Here is what he said to keep an eye out for in the year ahead.

What are one to two trends that you predict will be the biggest to shape the CRE industry in 2017?

The growing trend toward next day/same day delivery will have a profound effect on Florida’s industrial sector in… Read More