Demand remains strong in the CBD as vacancy continued its slow decline over the start of the year, falling to 12.9 percent, while outpacing the suburban market by over 2.0 percent.
Demand remains strong in the CBD as vacancy continued its slow decline over the start of the year, falling to 12.9 percent, while outpacing the suburban market by over 2.0 percent.
The yellow capacity factor trend line does not lieGraeme Donaldson
The document summarizes the considerable improvements and record performance of CalEnergy's 10 facilities over the past year. Key points include: achieving over 100% capacity for 4 consecutive summer months for the first time in 9 years; completing all performance tests without issues after 9 years of facilities being placed on probation; generating over $17 million in additional revenue by shifting generation during a de-rating period; realizing $2.5 million in annual savings through optimized scheduling; and standardizing operations to enhance reliability across all facilities.
The document outlines 4 unspoken rules in Oceania: always believe that Big Brother is right, view pleasure as bad, be suspicious of everyone, and think that going against the ruling party is a crime.
Kevin of Remitech Solutions received positive feedback from multiple clients for his website development work. Clients praised his communication, responsiveness, attention to detail, and going above and beyond to ensure their needs were met. One client specifically highlighted Kevin's dedication, as he was responsive at all hours including weekends, and his integrity in addressing a security issue with a theme. Overall, clients recommended Kevin for his excellent work, timeliness, and trustworthiness.
We are pleased to give to you the 2015 Innovation Forecast Report. We used the principle of the triple helix while inviting influencers to co-author this edition. Thus, in the report you can find publications of entrepreneurs, scientists and government representatives. Such a combination allows to show different perspectives of thinking and bringing innovation into life.
Among the invited authors are:
Paweł Adamowicz - The Mayor of the City of Gdańsk
Sebastian Grabowski - Director of the Research and Development Centre, Orange Poland
Paweł Tkaczyk - guru of branding and allfather of Midea
Izabela Disterheft - Director of Gdansk Science and Technology Park
Sebastian Brzuzek - Head of Innovation in Meritum Bank ICB
Krzysztof Kanawka - scientist and Leader in Blue Dot Solutions
Agata Kukwa - CEO, dlaodmiany.pl
Bartosz Rychlicki – CEO, Quantum Lab
Wojciech Drewczyński – Product Owner, Gamereer
and
Marcin Kowalik – Managing Partner, Black Pearls VC
All of the authors pointed out an important trend that is worth following. Using help of Jamel interactive agency and their solution called Social Board we gathered references to these trends published by internet users worldwide. With simple click on a hashtag under each forecast you will see how the trend is growing around the world and how ideas that are connected to that topic are developing.
http://innovation.socialboard.pl/
Presentation during Open Access Week celebrations at Wits University, Johannesburg, South Africa
Goal of the presentation: Address broader aspects of openness in higher education
Demand remains strong in the CBD as vacancy continued its slow decline over the start of the year, falling to 12.9 percent, while outpacing the suburban market by over 2.0 percent.
The yellow capacity factor trend line does not lieGraeme Donaldson
The document summarizes the considerable improvements and record performance of CalEnergy's 10 facilities over the past year. Key points include: achieving over 100% capacity for 4 consecutive summer months for the first time in 9 years; completing all performance tests without issues after 9 years of facilities being placed on probation; generating over $17 million in additional revenue by shifting generation during a de-rating period; realizing $2.5 million in annual savings through optimized scheduling; and standardizing operations to enhance reliability across all facilities.
The document outlines 4 unspoken rules in Oceania: always believe that Big Brother is right, view pleasure as bad, be suspicious of everyone, and think that going against the ruling party is a crime.
Kevin of Remitech Solutions received positive feedback from multiple clients for his website development work. Clients praised his communication, responsiveness, attention to detail, and going above and beyond to ensure their needs were met. One client specifically highlighted Kevin's dedication, as he was responsive at all hours including weekends, and his integrity in addressing a security issue with a theme. Overall, clients recommended Kevin for his excellent work, timeliness, and trustworthiness.
We are pleased to give to you the 2015 Innovation Forecast Report. We used the principle of the triple helix while inviting influencers to co-author this edition. Thus, in the report you can find publications of entrepreneurs, scientists and government representatives. Such a combination allows to show different perspectives of thinking and bringing innovation into life.
Among the invited authors are:
Paweł Adamowicz - The Mayor of the City of Gdańsk
Sebastian Grabowski - Director of the Research and Development Centre, Orange Poland
Paweł Tkaczyk - guru of branding and allfather of Midea
Izabela Disterheft - Director of Gdansk Science and Technology Park
Sebastian Brzuzek - Head of Innovation in Meritum Bank ICB
Krzysztof Kanawka - scientist and Leader in Blue Dot Solutions
Agata Kukwa - CEO, dlaodmiany.pl
Bartosz Rychlicki – CEO, Quantum Lab
Wojciech Drewczyński – Product Owner, Gamereer
and
Marcin Kowalik – Managing Partner, Black Pearls VC
All of the authors pointed out an important trend that is worth following. Using help of Jamel interactive agency and their solution called Social Board we gathered references to these trends published by internet users worldwide. With simple click on a hashtag under each forecast you will see how the trend is growing around the world and how ideas that are connected to that topic are developing.
http://innovation.socialboard.pl/
Presentation during Open Access Week celebrations at Wits University, Johannesburg, South Africa
Goal of the presentation: Address broader aspects of openness in higher education
Demand remains strong in the CBD as vacancy continued its slow decline over the start of the year, falling to 12.9 percent, while outpacing the suburban market by over 2.0 percent.
The $50 million renovation of Public Square in downtown Cleveland is increasing investment in adjacent properties, with several transferring in the last two years for a total of $194.5 million. However, a key complex listed for sale could trade for over $285 million. Residential demand from millennials desiring urban living has increased downtown's population 79% since 2000, tightening the office market as over 3.3 million square feet of office space was converted to residential. While downtown grew, Cleveland's suburban office market like Rockside Corridor also regained stability, retaining and attracting tenants while reducing vacancies.
The Columbus office market gained positive absorption for the third quarter in a row. Construction continues to pick up with new projects starting. Vacancy rates fell slightly to 11.3% as absorption outpaced new construction. Investment sales remained strong in the fourth quarter, with several large portfolio and building sales. Rental rates increased over the course of 2012 for Class A and B spaces. The market outlook remains optimistic as leasing activity was higher than the average of prior fourth quarters.
The CBD and North submarket clusters registered the lowest vacancies through the first half of 2015, supported by a number of significant lease transactions signed over the second quarter.
The industrial employment sectors continue to expand in the Columbus region, posting an annual net gain of 13,500 jobs according to the latest data available from the BLS.
The Columbus office market gained positive absorption for the fourth consecutive quarter. The vacancy rate is now 11.7%, and construction continues with several large projects starting. Rental rates have increased slightly for Class A and B spaces over the past quarter. The largest new leases were Cardinal Health expanding 61,128 sq ft and the FBI leasing 44,926 sq ft. The unemployment rate rose to 6.4% but remains lower than in previous years.
The Chicago downtown office market saw steady activity in Q2 2016. Vacancy declined to 11.9% while availability increased to 17.4% due to an influx of sublease space. Net absorption was 262,177 SF aided by major moves from ConAgra and ACGME. Rental rates remained stable. New developments delivered space and McDonald's announced plans to relocate 390,000 SF to 110 N Carpenter St in 2018. Investment sales slowed after a record 2015, though Sullivan Center sold for $283/SF. The market is expected to remain strong in H2 2016 with high absorption driving down vacancy further.
JLL’s Mid-Year Skyline Update: A Closer Look at OH, MI & PAJLL
JLL's annual Skyline review is back and more advanced than ever before. Register for free to access the floor-by-floor data in roughly 1,200 of our nation’s most prominent towers, including Class A buildings in Cincinnati, Cleveland, Columbus, Detroit and Pittsburgh.
Leasing volume has been stuck in neutral for several quarters. Nevertheless, activity in the Midtown, Central Perimeter, North Fulton and Northwest remains steady with corporate relocations boosting demand as well.
Two new office projects delivered space in Q2 2015, including 166,000 sq ft in Northeast Minneapolis and 69,899 sq ft in downtown Minneapolis. Additional speculative projects like T3 in North Loop are under construction. Major employers like Green Tree and Ecolab made long-term commitments to downtown St. Paul, with Green Tree leasing 141,000 sq ft and Ecolab purchasing another downtown building. Class B assets accounted for all $288 million in office investment sales in Q2 2015, with three buildings totalling over 500,000 sq ft being converted to other uses like hotels or apartments.
Minneapolis-St. Paul Office Insight | Q1 2016Carolyn Bates
1) Over 1.3 million square feet of new build-to-suit office space was delivered in the last two quarters, including Wells Fargo's 1.1 million square foot towers and Be the Match's 240,000 square foot headquarters.
2) As large companies move to new build-to-suit spaces, it is opening up large blocks of sublease space, including 455,000 square feet at Northstar West.
3) Law firms moving and downsizing are increasing vacancy rates, such as Wagner Falconer & Judd leaving 15,500 square feet and Lindquist & Vennum planning to leave 120,000 square feet.
The Columbus retail market saw positive absorption of 49,058 square feet in Q1 2013, continuing a trend of positive absorption over the past year. Vacancy decreased slightly to 10% as major leases were signed and new retailers entered the market. Construction activity remains high with over 170,000 square feet currently under development. The retail market is expected to continue slow, steady growth as new apartment construction brings additional retail demand.
The Columbus retail market recorded positive net absorption of 108,252 square feet in the third quarter of 2012. Vacancy rates decreased slightly to 10.1% from 10.2% in the previous quarter. Notable leases included Nordstrom Rack leasing 36,250 square feet and Star Lanes leasing 35,000 square feet. Construction activity also increased with over 170,000 square feet of new space breaking ground in the past 90 days. The retail market in Columbus continues its recovery with improving absorption, rental, and construction trends.
The Indy industrial market continued to grow this quarter. Net absorption has already surpassed last year’s total and completed construction is closing in on last year’s total.
Finance and insurance driving expansions and relocations in the market
As of third quarter, metro employment in the finance and insurance industries finally approached pre-recession levels.
The office market saw substantial leasing activity from firms like Ally Financial which recently relocated 150 employees to the Shoreview Corporate Center with plans to add another 250 jobs by 2017.
Other firms like One Beacon Insurance Group, Securian Financial Group, Travelers Companies, and General Casualty Company have either invested in new space or absorbed existing space in all corners of the Minneapolis-St. Paul market.
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Similar to JLL Columbus Chart of the Week: May 4, 2015
Demand remains strong in the CBD as vacancy continued its slow decline over the start of the year, falling to 12.9 percent, while outpacing the suburban market by over 2.0 percent.
The $50 million renovation of Public Square in downtown Cleveland is increasing investment in adjacent properties, with several transferring in the last two years for a total of $194.5 million. However, a key complex listed for sale could trade for over $285 million. Residential demand from millennials desiring urban living has increased downtown's population 79% since 2000, tightening the office market as over 3.3 million square feet of office space was converted to residential. While downtown grew, Cleveland's suburban office market like Rockside Corridor also regained stability, retaining and attracting tenants while reducing vacancies.
The Columbus office market gained positive absorption for the third quarter in a row. Construction continues to pick up with new projects starting. Vacancy rates fell slightly to 11.3% as absorption outpaced new construction. Investment sales remained strong in the fourth quarter, with several large portfolio and building sales. Rental rates increased over the course of 2012 for Class A and B spaces. The market outlook remains optimistic as leasing activity was higher than the average of prior fourth quarters.
The CBD and North submarket clusters registered the lowest vacancies through the first half of 2015, supported by a number of significant lease transactions signed over the second quarter.
The industrial employment sectors continue to expand in the Columbus region, posting an annual net gain of 13,500 jobs according to the latest data available from the BLS.
The Columbus office market gained positive absorption for the fourth consecutive quarter. The vacancy rate is now 11.7%, and construction continues with several large projects starting. Rental rates have increased slightly for Class A and B spaces over the past quarter. The largest new leases were Cardinal Health expanding 61,128 sq ft and the FBI leasing 44,926 sq ft. The unemployment rate rose to 6.4% but remains lower than in previous years.
The Chicago downtown office market saw steady activity in Q2 2016. Vacancy declined to 11.9% while availability increased to 17.4% due to an influx of sublease space. Net absorption was 262,177 SF aided by major moves from ConAgra and ACGME. Rental rates remained stable. New developments delivered space and McDonald's announced plans to relocate 390,000 SF to 110 N Carpenter St in 2018. Investment sales slowed after a record 2015, though Sullivan Center sold for $283/SF. The market is expected to remain strong in H2 2016 with high absorption driving down vacancy further.
JLL’s Mid-Year Skyline Update: A Closer Look at OH, MI & PAJLL
JLL's annual Skyline review is back and more advanced than ever before. Register for free to access the floor-by-floor data in roughly 1,200 of our nation’s most prominent towers, including Class A buildings in Cincinnati, Cleveland, Columbus, Detroit and Pittsburgh.
Leasing volume has been stuck in neutral for several quarters. Nevertheless, activity in the Midtown, Central Perimeter, North Fulton and Northwest remains steady with corporate relocations boosting demand as well.
Two new office projects delivered space in Q2 2015, including 166,000 sq ft in Northeast Minneapolis and 69,899 sq ft in downtown Minneapolis. Additional speculative projects like T3 in North Loop are under construction. Major employers like Green Tree and Ecolab made long-term commitments to downtown St. Paul, with Green Tree leasing 141,000 sq ft and Ecolab purchasing another downtown building. Class B assets accounted for all $288 million in office investment sales in Q2 2015, with three buildings totalling over 500,000 sq ft being converted to other uses like hotels or apartments.
Minneapolis-St. Paul Office Insight | Q1 2016Carolyn Bates
1) Over 1.3 million square feet of new build-to-suit office space was delivered in the last two quarters, including Wells Fargo's 1.1 million square foot towers and Be the Match's 240,000 square foot headquarters.
2) As large companies move to new build-to-suit spaces, it is opening up large blocks of sublease space, including 455,000 square feet at Northstar West.
3) Law firms moving and downsizing are increasing vacancy rates, such as Wagner Falconer & Judd leaving 15,500 square feet and Lindquist & Vennum planning to leave 120,000 square feet.
The Columbus retail market saw positive absorption of 49,058 square feet in Q1 2013, continuing a trend of positive absorption over the past year. Vacancy decreased slightly to 10% as major leases were signed and new retailers entered the market. Construction activity remains high with over 170,000 square feet currently under development. The retail market is expected to continue slow, steady growth as new apartment construction brings additional retail demand.
The Columbus retail market recorded positive net absorption of 108,252 square feet in the third quarter of 2012. Vacancy rates decreased slightly to 10.1% from 10.2% in the previous quarter. Notable leases included Nordstrom Rack leasing 36,250 square feet and Star Lanes leasing 35,000 square feet. Construction activity also increased with over 170,000 square feet of new space breaking ground in the past 90 days. The retail market in Columbus continues its recovery with improving absorption, rental, and construction trends.
The Indy industrial market continued to grow this quarter. Net absorption has already surpassed last year’s total and completed construction is closing in on last year’s total.
Finance and insurance driving expansions and relocations in the market
As of third quarter, metro employment in the finance and insurance industries finally approached pre-recession levels.
The office market saw substantial leasing activity from firms like Ally Financial which recently relocated 150 employees to the Shoreview Corporate Center with plans to add another 250 jobs by 2017.
Other firms like One Beacon Insurance Group, Securian Financial Group, Travelers Companies, and General Casualty Company have either invested in new space or absorbed existing space in all corners of the Minneapolis-St. Paul market.
Grand Action, a non-profit organization of wealthy benefactors in Grand Rapids, led development of three major projects in the 1990s that transformed downtown - Van Andel Arena, DeVos Place Convention Center, and the Grand Rapids Downtown Market. These large-scale projects increased rents, occupancy, and attracted new investment across the region. With high demand, low vacancy, and low interest rates, new construction of industrial and Class A office space is beginning. Rental rates have risen as office building sales and leasing activity increase due to the expanding market and lack of quality office properties. Limited availability is forcing owners to get creative with multipurpose buildings to attract tenants and compete in the increasingly urban market, where two types
Minneapolis CBD leads in large leasing deals
Vacancy rates in Minneapolis CBD continue their trend of shrinking every quarter. Vacancy at IDS Center declined 250 basis points since 2014 and the building now has its lowest quarterly vacancy in recent years. The demand for premium downtown office space is substantial and even co-working firms are getting in on the craze. Recently, two shared-space companies out of Chicago, Industrious and Assemble, leased a collective 36,000 sf with plans to rent out collaborative workspace to entrepreneurs and small firms by end of year.
Leasing activity and tenant demand in Cleveland looks quite strong. Office employment sectors have recorded sustained jobs growth over the last three years, which is translating into increased tenant demand.
Corporate consolidations over the next three years will place upward pressure on vacancy rates across the Pittsburgh metro office market. Rents have appreciated 3.3% year-over-year on average across all classes and submarkets as landlords maintained leverage amid tightening fundamentals. Office construction remains robust with nearly 1 million square feet under construction and 500,000 square feet scheduled to break ground next year.
The document reports on employment trends in Indianapolis from 2010 to 2015. It shows that non-farm employment reached its highest level ever in August 2015 at 1,030,100 jobs. The unemployment rate declined to 4.2% for Indianapolis and 4.6% for Indiana. Several sectors experienced strong growth over the past year, including trade/transportation/utilities which grew by 6.1%, manufacturing by 2.2%, and leisure/hospitality by 4%.
In Q3 2015, office leasing activity in Detroit totaled 1.7 million square feet across 54 transactions. The largest lease signed was for nearly 89,000 square feet in the Growing submarket. Most leases were for new tenants entering the market or renewals by current occupants. Leasing activity was strongest in the Birmingham, Dearborn, and Northern I-275 Corridor submarkets and focused in the healthcare, technology, and professional services industries.
Downtown Detroit office fundamentals are improving, with increasing rents, decreasing vacancy rates, and more refinancing activity for commercial properties. Over 300,000 square feet of new office space was delivered in 2015, marking an increase in construction beyond just rehabbing existing buildings. Urban office submarkets continue to outperform suburban areas, with rents in the city up 5.1% compared to a 3.8% increase in the suburbs. Vacancy rates have also decreased more substantially in the urban core over the past year. Recent large commercial mortgage loans on downtown Detroit buildings indicate growing creditworthiness and investment in the central business district.
After increasing in July, the local labor market contracted by 2,000 workers in August. Along with that employment held flat, still near a historic high. As a result, unemployment edged down 40 basis points to 3.3 percent.
The size of the local labor force declined by 32,000 workers in August. That contraction caused the unemployment rate to decline 40 basis points to 5.7 percent.
According to the most recent estimates from the Bureau of Labor Statistics, total nonfarm employment in Detroit stood at ~2.0 million payrolls, representing an annualized increase of 45,200 jobs or 2.4 percent. Meanwhile, unemployment decreased 2.7 percentage points year-over-year to 6.2 percent.
Total net absorption across the metro equaled 322,977 square feet in the third quarter, a welcome change from the negative absorption posted in each of the previous two quarters.
Health tech firms are growing rapidly in the Minneapolis-St. Paul area, with 34 companies moving or expanding operations there in the last four years, according to a LifeScience Alley report. On average, these health tech company moves or expansions involved 79,619 square feet of new space and 86 added jobs, larger than most other industries. Some of the companies expanding include Upsher-Smith Laboratories, Smiths Medical, National Marrow Donor Program, and St. Jude Medical.
The document discusses employment growth in different sectors in the Indianapolis market. It notes that the professional & business services and trade, transportation & utilities sectors have shown the highest continual growth since 2010, adding over 20,000 jobs over the past year. While mining & logging has consistently had limited growth, there is no clear trend for the sector with the least growth, though information and government have also shown little growth in recent years.
Detroit’s economy added 46,900 net new jobs over the last year, representing a 2.5 percent increase. With steady employment gains across the metro, look for further improvement in Detroit’s office and industrial property sectors.
Manufactured goods constitute 90 percent of Illinois exports and roughly half of the state’s manufacturing output. Last year Chicago area companies accounted for over two thirds of the $68.3 billion worth of exports that originated in Illinois. Metro exports have exhibited steady improvement over the past five years growing by an average of $3.8 billion annually as manufacturing user demand followed suit.
Roughly 60 percent of Chicago’s exports were sent to countries with existing free trade agreements in place. According to the Department of Commerce members of the proposed Trans-Pacific Partnership imported $28.7 billion worth of products from Chicagoland last year. Should TPP move forward escalating trade volumes are likely to impact the local industrial market.
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One of the things that sets Avrupa Konutlari Esentepe apart from other developments is our focus on creating a community that is both comfortable and convenient. Our homes are surrounded by lush green spaces, perfect for enjoying a peaceful stroll or having a picnic with friends and family. Additionally, our complex includes a variety of social and recreational amenities, such as swimming pools, sports fields, and playgrounds, making it easy for residents to stay active and socialize with their neighbors.
https://listingturkey.com/property/avrupa-konutlari-esentepe/
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JLL Columbus Chart of the Week: May 4, 2015
1. CBD vacancy once again below suburban
Columbus
• Demand remains strong in the CBD as vacancy continued its slow decline over the start of the year,
falling to 12.9 percent, while outpacing the suburban market by over 2.0 percent. Continued interest in
the CBD is also evidenced by the increasing number of construction projects as of late. Columbia Gas
recently moved into its newly-constructed, 286,000-square-foot headquarters in the Arena District,
development continues on the market’s largest project currently under construction at 250 S. High, while
an additional, newly announced project at the Columbus Commons will add roughly 125,000 square feet
of Class A office space in the downtown area.
Source: JLL Research
Chart of the week: May 4, 2015
16.5%
15.2%
15.0%
16.0%
14.0%
12.9%
19.4%
17.7% 18.6%
15.5%
14.4%
15.1%
12.0%
14.0%
16.0%
18.0%
20.0%
22.0%
2010 2011 2012 2013 2014 Q1 2015
CBD vacancy Suburban vacancy