Despite the once prevalent “live-work-play” trend, recent data shows that there are over 4.8 million reverse commuters out of major cities. This recent phenomenon comes at a time where people are moving into cities much more quickly than jobs are becoming available.
Historically, jobs would lead the charge—employees would follow… Read More
An interesting statistic from JLL Research: new office product coming to market in Brooklyn has asking rents that represent a 61 percent premium to previously existing product, a level in line with Downtown Manhattan asking rents. In fact, DUMBO asking rents ($65.35 per s.f.) have now surpassed Downtown Manhattan asking rents ($60.87 per s.f.). And nearly 40 percent of space currently available in Brooklyn and Long Island City are in buildings… Read More
Density and new transit hub in Downtown Manhattan office market yield superior commutability
Lower Manhattan is served by the brand new, Oculus/Fulton Center transit hub, a subterranean network of rail stops accessing the New Jersey PATH system as well as eleven MTA subway lines. These transportation resources make the market highly accessible to both New Jersey
High-tech users have accounted for 53 percent of leasing in Midtown South new developments as tech firms have put talent attraction and retention at the forefront of real estate strategies. However, leasing has been led by non-traditional technology tenants. Mastercard signed a 212,500-square-foot at 150 Fifth Avenue for its
JLL survey results reveal top 2018 back-to-school shopping trends
With the start of the 2018–2019 school season just weeks away, back-to-school shopping is already in full swing. Last month, JLL Retail polled more than 1,000 parents of school-age children in the U.S. to learn more about their back-to-school spending plans and discovered eight key takeaways:
Overall, back-to-school spending is down this year, with approximately 62% of
• Once completed, Hudson Yards/ Manhattan West will have 21.1 million square feet of office inventory. Though it may seem very large, the total square footage will only represent 4.7 percent of the Manhattan office inventory.
• If we compared Hudson Yards/ Manhattan West to some of the other large markets… Read More
Life Sciences innovation is evolving at a breathtaking pace. Shifting priorities are creating new models, the race for talent is quickening and emerging markets are providing more value than ever before. As Life Sciences companies enter a new era of collaborative research and development, flexibility, and need for more creative space, an effective real estate and facilities strategy is key.
In our 2018 Life Sciences Outlook, JLL calls out 3 trends shaping… Read More
There’s been quite a buzz about a national unemployment rate of 4.0 percent, however less than one quarter of jobs across the USA are considered office-using – implying this historically tight labor market is impacting office fundamentals in some metros more than others.
Even in the world of online grocery platforms like Instacart and the focus on healthy eating, consumer demand for fast food remains strong.
Quick-serve restaurant (QSR) sales increased 12.5 percent in the U.S. from 2015 to 2018—the largest jump out of any category in the food and beverage industry.But while the demand for quick service dining holds strong, consumer expectations around their eating experience are changing quicker than you can say, “Do you… Read More