American companies have been creating about 150,000-200,000 net new jobs per month in recent years, keeping pace with labor force growth. But, according to the Manpower Group, roughly 40 percent of employers report difficulty filling jobs due to insufficient talent. And it’s not just tech or IT jobs—the jobs gap is impacting the… Read More
- 74 percent of all large relocations, by square footage, since 2014 represented movement either West or South; with the majority coming from the Grand Central and Plaza District districts.
- These relocating tenants are leaving behind more than 13 million square feet of Midtown availability.
- Large renewal activity remains concentrated in Midtown … Read More
Class A office product dominated Manhattan in the last quarter of 2017, as detailed in the Q4 2017 Office Insight report recently released by JLL Research. This “flight-to-quality”… Read More
The craft brewing industry in America has exploded in recent years, with 36 states more than doubling their craft beer production from 2011 to 2016, according to The Craft Beer Guidebook to Real Estate from JLL. This growth has played a key role in the transformation of previously abandoned light-industrial buildings and turning barren neighborhoods into flourishing communities. The guidebook provides production and brewery data in New York and other states… Read More
In recent years companies have been trying to inject more of the fun factor into the workplace: Slides instead of stairs, swings to help creative ideas “flow,” and game rooms packed with lunchtime entertainment options.
What began as a tech industry trend has gone mainstream. More companies are creating playful space to help people unwind, engage and think outside the box. While modern office design and perks may provide a unique conversation… Read More
Work is changing- from the enhancement of our physical spaces to expectations from both employer and employees. JLL recognizes that. In a visionary look into the changing world of work, JLL presents the Future of Work, our proprietary model explaining our outlook on the evolving landscape and its impact on the next generation of corporate real estate.
The first dimension of our model is the human experience. Now more than ever, people… Read More
New York City is emerging as a leading destination for biotech startups and the larger life sciences industry. As illustrated in our New York research Snapshot chart this week, New York City now ranks second in life sciences funding from the National Institutes of Health (NIH), receiving $1.63 billion in 2016 (see chart below).
The Bureau of Labor Statistics estimates that more than 1,000 life sciences companies are located in the New York… Read More
JLL’s technology report “Cracking the hardest code: Where to find tech talent?” is an interesting and thought-provoking piece. Given the growing concentration of talent in software development and computer programming in tertiary markets like Albany, NY and Columbus, OH (among other surprising locations), will technology companies continue to pay sky-high office rents in Manhattan?
Ponder this: according to JLL Research, TAMI industry office-using employment, largely driven by technology companies, has increased by… Read More
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
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