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.
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… Read More
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.
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… Read More
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… Read More
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… Read More
After several years of aggregate sublet space trending down in Orlando, a substantial increase may signal a reversal of the trend. More large blocks of sublease space are available than a year ago, and they compose a greater share of the sublease availabilities. In November 2015, sublease availabilities over 10,000 square feet comprised only 24.7 percent of the sublet market. In November 2016, those large sublease availabilities jumped to 60 percent… Read More
JLL gathers expert panel to discuss diversity & inclusion
Over the next few years, businesses large and small will find themselves in a talent war. As eligible, skilled candidates grow harder to recruit and retain, it will be critical for companies to become more diverse and inclusive.
With this in mind, JLL’s Florida Women’s Business Network brought together a panel of experts to have an engaging dialogue on how organizations can position themselves for long-term success by building a diverse talent pool.
In celebration of the accomplishments of our female leaders, we sat down with Barbara Liberatore Black who is part of JLL’s leadership in South Florida to kick off our “Breaking Through” series. Quarterly “Breaking Through” articles will feature JLL’s leading women professionals providing mentorship advice to women in business.
When Barbara got… Read More
An uncertain economic forecast is driving law firms to take a hard look at one of their largest expenses: real estate. Given that Florida continues to be a landlord market, law firms must overcome more challenges than ever to negotiate the best possible lease rates and terms.
JLL’s 2016 U.S. Law Firm Real Estate report surveyed all major national and local submarket trends to identity the key trends influencing law firm office leasing. … Read More