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JLL Great Lakes Skyline 2014
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JLL Great Lakes Skyline 2014

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City skylines in the Great Lakes saw a lot of positive, dynamic activity in 2013. JLL highlights 5 hard hitting facts from the Cincinnati, Columbus, Cleveland, Detroit and Columbus skylines. …

City skylines in the Great Lakes saw a lot of positive, dynamic activity in 2013. JLL highlights 5 hard hitting facts from the Cincinnati, Columbus, Cleveland, Detroit and Columbus skylines.

For more information, please visit:
http://www.joneslanglasalleblog.com/spaces/the-skys-the-limit-real-estate-report-examines-top-local-skylines/

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  • 1. COLUMBUS DETROIT CLEVELAND CINCINNATI PITTSBURGH Great Lakes Skyline 2014 the 5 hard hitting facts IN COLUMBUS, QUALITY SPACE IS IN HIGH DEMAND OF SPACE IS CURRENTLY UNDER CONSTRUCTION443,000SF NEW SPECULATIVE CONSTRUCTION which means more state-of-the-art space options in the near future. SINCE ITS HIGH POINT IN Q4 2010.11.5% CINCINNATI OFFICE SPACE IS MORE ECONOMICAL TODAY THAN ALMOST A DECADE AGO 2014 PITTSBURGH IS RANKED AMONG IS AMONG 6 MARKETS NATIONALLY THAT HAVE EXPERIENCED A RENT DECREASE SINCE 2005. (Local market knowledge will be key to finding office space in the Pittsburgh CBD.) (Consider Detroit’s CBD now as premium space; it may be limited within the next years.) PREMIUM, CLASS A OFFICE SPACE IS NOW AVAILABLE IN THE CBD. As a result JLL experts observed this trend slowing down and even plateauing nationwide. REDEVELOPMENT STRATEGY PUSHING CBD TOTAL VACANCY down to leading to DOWNTOWN OCCUPIERSCONVERTED SUBURBAN TENANTS to with single-digit direct vacancy rates. 11 4.5% CLEVELAND WAS AMONG THE TOP 4 CITIES IN THE NATION TO EMPLOY RIGHTSIZING—IMPROVING WORKPLACE EFFICIENCIES AND CUTTING COSTS. 2005 and CITIES IN THE U.S. DIRECT VACANCY IS

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