While the country’s office market has maintained steady growth over the last few quarters, JLL South Florida’s new vice president of Project and Development Services (PDS), David B. Diaz, explains why a smaller workplace is becoming the new model for employers to follow and how it can actually benefit employee satisfaction.
What is determining employers to shift to smaller workplaces?
Diaz: The need to streamline operational expenses, develop more proficient space and promote… Read More
With ICSC Orlando, Florida’s largest retail real estate conference, wrapping up last month, we sat down with JLL’s Senior Vice President Paul Rutledge who attended and taught at the ICSC’s annual confab, to find out what he thought about this year’s conference, Florida’s retail market, and the state of malls.
Shopping centers’ concepts continue to evolve as developers of massive mixed-use regional projects lean heavily on entertainment features and more sophisticated dining options to entice shoppers. Although several megamalls are on the drawing boards in Florida, development in the near term is lagging behind demand, keeping occupancies and rents high.
JLL’s 2018 Fall Florida Retail Report breaks down the big-picture trends that are changing the face of retail as well as the… Read More
This is an unprecedented time for Jacksonville’s office market as large amounts of new Class A office space come online and major capital markets transactions in Downtown are generating more office activity than the region has experienced in the past decade.
We sat down with JLL Executive Vice President Michael Loftin to find out what is driving all this new activity and why the market is showing no signs of slowing down.
Evolving business models within the financial service sector are changing the industry’s commercial space requirements, according to JLL Research’s inaugural Financial Services Operations Centers report. In Florida, these changes are most likely to affect established hubs such as Jacksonville and Tampa, each of which counts finance as a major economic driver.
While some urban office markets in Central Florida experienced a drop-in occupancy and leasing activity as the second quarter of 2018 drew to a close, stable fundamentals and unabated new construction suggest optimism among landlords and developers. JLL’s recently released Q2 2018 Office Insight report analyzed the latest market data to provide an overview of the major trends impacting Central and North Florida’s markets.
Urban office markets across South Florida recorded significant negative absorption in the second quarter, although rental rates so far remain unaffected. In the long run, market observers find reasons for optimism in undiminished demand for Class A space, including a tendency of new high-end properties to lease up relatively quickly despite a general falling off in leasing activity.
As the state of Florida braces for another hurricane season, which kicked off earlier this month and runs until November 30th, it’s important to know what preparations and measures to take in advance to properly protect commercial real estate properties.
Forecasters are predicting another active hurricane season following an intense 2017 that included the impactful landfall of Hurricane Irma. This year, Florida is expected to experience about seven hurricanes – three hurricanes… Read More
JLL’s Retail Outlook for the first quarter found major U.S. metro areas falling from the peak of the real estate cycle, with rents softening and vacancies stagnant or mounting. In key Florida markets, however, retail is faring comparatively well. While Tampa is just beginning to experience a softening of the market, fundamentals in Miami and Orlando are still improving, helped by a surge in demand created by significant in-migrations of Puerto… Read More
Tampa Bay’s consistent economic growth- driven by strong population and employment gains over the past several years- has made it one of the most desirable office markets in the Southeast US. However, in recent years the city’s ability to attract new, large corporate tenants has… Read More