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 relates to next… 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 past 24 months. The growth… 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 of the sublease… 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. We dug into… Read More
Tech is one of the fastest growing industries in the U.S. Its impact has spilled over into almost every sector, including commercial real estate. As JLL’s latest tech report, the 2016 Tech Outlook, points out: technology remains the leading industry for real estate expansion in the United States and has quickly become a key economic driver in many cities.
The report highlights ten trends that… Read More
There’s no space like Trophy space and with urbanization sweeping across the United States, rents in premier office towers that make up the skylines are tightening, generating developer interest to build new office space and investor demand to acquire more office assets. Understanding that activity in one office market may be a bellwether for another, JLL reviews the Skylines… Read More
Across the country, office markets are tightening, driving higher rents, generating developer interest to build new office space and investor demand to acquire more office assets. In tighter markets, change is swift and impactful. This is just one of the reasons JLL is presenting the new skyline report as an interactive digital platform. For the first time, the popular JLL Skyline report on Class A and Trophy office towers can be quickly compared across 47 markets… Read More
Navigating the uncharted waters
Many unknowns lay in the wake of the U.S.-Cuba economic embargo changes. Attempting to navigate the workings of an economy which has been forbidden for the past 50 years raises important questions: How will the establishment of business relationships with Cuban entities and a communist political system be implemented? Are the potential economic gains worth the risk and stress of navigating unclear regulatory… Read More
As the banking and finance sector continues recovering from the Great Recession, there’s been a shift in recent leasing activity with banks and financial services seeking reductions in their office and retail footprints, according to a new JLL report. JLL’s 2015 North American Banking & Financial Outlook Report shows nearly half of the office transactions in 2014 in the United State and Canada were relocations compared to 24.8 percent renewal rate.
Across the Sunshine State,… Read More