High-tech tenants have catalyzed demand for Midtown South’s new product

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  • 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
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Back-to-school time already?

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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:

  1. Overall, back-to-school spending is down this year, with approximately 62% of
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Hudson Yards/Manhattan West developments are only a small fraction of Manhattan inventory

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• 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

Breakthrough discoveries at a breathtaking pace

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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

Office-using employment drives Manhattan’s labor market, accounting for a growing share of jobs

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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.

Such is the case for New York,… Read More

Five ways fast food restaurants are updating their look

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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

Times Square retail is on a roll

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•Times Square continues to show signs of prosperity as availability in the corridor dropped to 5.9 percent in the second quarter, the lowest of all submarkets tracked by JLL Research.

•The area benefited from the marked decrease in asking rents that has been observed city-wide; the current average of $1,833… Read More

Tech set to disrupt the construction industry

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The construction industry continues to tackle the challenges of rising construction materials costs, a skilled labor shortage and overall lack of productivity improvements, offering an expansive opportunity for disruption. Which means there’s a new darling for venture capitalists as they funnel an unprecedented amount of capital into Construction Technology.

A massive amount–$1.05 Billion—that’s the record number venture capitalists invested in global construction technology (ConTech) startups in the first half of 2018. Investment… Read More

Tenant improvement allowances increase across the United States

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Landlord provided Tenant Improvement Allowances (also known as TIs or TIAs) have recently experienced significant spikes throughout the United States, as trends in office space and construction environments are emerging, driven by the following factors:

  • A significant volume of new inventory has had a major impact to supply and demand dynamics, as available office product is expanding faster than tenant demand. This trend is motivating landlords to compete for tenants with more
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New trends in healthcare real estate look to increase patient care while reducing financial risk

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With traditional approaches to healthcare real estate proving too costly to keep up with rising (and changing) patient demand and compressed reimbursements, the industry needs to evolve to enhance the patient experience and maintain fiscal health.

JLL’s recently published 2018 Healthcare Real Estate Outlook highlights several strategies on the rise that aim to better serve patient needs while improving healthcare providers’ financial bottom line.

New types of real estate in more locations to… Read More