Category Archives: JLL

JLL Introduces the Future of Work

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No organization or industry is immune to the rapid, and accelerating, pace of change we see happening across business and society today. Unprecedented innovation in technology is forcing seismic shifts in how we live and work. It’s also driving a transformation of corporate real estate.

Now more than ever, real estate can enable an organization to achieve its ambitions. To help with this, we are excited to introduce our JLL proprietary model… Read More

Midtown East rezoning to spur development of new office towers

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The Midtown East rezoning deal struck between the New York City Council (Land Use Committee) and the de Blasio administration not only allows for new construction of approximately 6.5 million square feet of office space within the 78-block area around Grand Central, but is also intended to generate a minimum of $61.49 per square foot, or 20 percent of the… Read More

Confidence continues in the Manhattan retail market

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REBNY Research reports that the Manhattan retail leasing market is proving to be an outlier against the national retail slowdown. Increased interest from retailers has spread throughout Manhattan, showing that there is confidence in Manhattan retail overall.

As the market’s natural retail correction continues, Manhattan rental rates for 72% of… Read More

One door closes, another opens – to opportunities

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Despite headlines about store closures, retail opportunity remains positive as new stores open and alternate paradigms emerge, especially in New York’s prime urban retail corridors.

In New York City’s upper Fifth Avenue shopping corridor, Under Armour will open its newest flagship store in 2018, in the former FAO Schwarz space vacated in 2015. Old Navy and The Gap will open flagships together in the former Toys “R” Us space in the Bow… Read More

JLL’s New York Anthem film premieres at the HBO Bryant Park Film Festival

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Summer in New York City is in full swing and the HBO Bryant Park Film Festival is off to a successful start! The trailer of the JLL NYC anthem brand film officially premiered on Monday, June 19th before the start of the first film, King Kong, and will continue to run every Monday through August 21st before each feature presentation.

Our brand film strives to drill down to the heart of what… Read More

1 week countdown: JLL anthem film at the HBO Bryant Park Summer Film Festival

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The HBO Bryant Park Summer Film Festival kicks off in less than one week! From June 19 to August 21, the lawn at Bryant Park turns into Manhattan’s own outdoor movie theater as throngs of people invade its green grass each Monday evening at 5pm, as screenings begin at sunset. Ten classic movies will grace the outdoor big screen in 2017, with titles ranging from King Kong to Dirty Dancing.

This year, before… Read More

Will bank branches on every street corner become a thing of the past?

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A 20% decrease in bank branch locations is expected over the next 10 years

We’ve all heard the catch phrase “bricks versus clicks.”  But have you considered the cost savings tied to bank branch evolution from bricks to clicks?

Simple math tells an astonishing story: the cost per transaction through a bank teller is $8.00; the cost per transaction via a mobile app is $0.08.  Mobile deposit, transferring and banking has changed the… Read More

JLL promotes the workplace of the future

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TAMI tenants may prefer to hold a lunch meeting in Bryant Park with a Halal falafel and a $3 bottled water, but they demand first-class lobby concierge, wellness, gourmet food and more in the office. And it’s paying off. Large user tenants recently signed leases on New York’s West Side for >$100 per square foot that may include outdoor space, bike storage, fitness centers and pet-friendly facilities to help their organizations… Read More

Employment Update: July 2016 from New York Research

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The JLL New York Research Team has released their latest report, the New York Employment Update, which is a monthly review and analysis of the local economy and the overall employment situation and dynamics.

Some highlights of the report include an employment pickup that occurred in June, piloted by an 8,000 job-expansion month-over-month. Total employment remains elevated by 1.9 percent year-over-year.

So what does this mean for commercial real estate in the Big… Read More

5 key trends shape mid-year Skyline update

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Last week, JLL launched a mid-year update to the 2016 Skyline Report, which provides online access to current market intelligence for the most iconic offices across our skyline. JLL’s Skyline provides insights on office supply, demand, rents and leverage for the top-tier office market within CBDs and urban cores. Five key trends shape this update, and below see how they impact our City.

  1. Gone today, here tomorrow

Many markets are expected to enter… Read More