JLL Louisville Office Outlook - Q4 2019Alex Westcott
The document provides an analysis of the Louisville, KY office market in Q4 2019. It summarizes that vacancy increased in the CBD while activity remained strong in the suburbs. While large corporate downsizing that occurred in the last two years is expected to end, rising construction costs will pressure rents higher. Key events included Microsoft opening an AI/IoT hub and the owner of 400 W. Market avoiding foreclosure by buying back the building's note. Overall the market remained relatively steady with modest expected growth in 2020.
JLL Louisville Office Outlook - Q1 2017Ross Bratcher
The first quarter of 2017 saw positive leasing activity and national wins for Louisville. Two large leases totaling 165,000 square feet were signed by national companies selecting Louisville. Vacancy rates decreased while rents and absorption increased. With continued economic and job growth, the Class A market is projected to tighten further. New speculative developments were announced to help meet demand across various submarkets.
The Columbus office market experienced negative impacts from the pandemic in 2021. Major employers pushed off space decisions or reduced footprints, especially in suburban submarkets which saw over 1.2 million square feet of negative absorption and an 8% rise in vacancy. The CBD was less impacted with a 5% rise in vacancy and 324,000 square feet of negative absorption. While work-from-home flexibility may become more common, employers are expected to still use office spaces as hubs for employee engagement. The market now has sufficient new and vacated Class A space to accommodate expanding companies in both the suburbs and CBD for the "new normal" going forward.
JLL Louisville Office Outlook - Q4 2019Alex Westcott
The document provides an analysis of the Louisville, KY office market in Q4 2019. It summarizes that vacancy increased in the CBD while activity remained strong in the suburbs. While large corporate downsizing that occurred in the last two years is expected to end, rising construction costs will pressure rents higher. Key events included Microsoft opening an AI/IoT hub and the owner of 400 W. Market avoiding foreclosure by buying back the building's note. Overall the market remained relatively steady with modest expected growth in 2020.
JLL Louisville Office Outlook - Q1 2017Ross Bratcher
The first quarter of 2017 saw positive leasing activity and national wins for Louisville. Two large leases totaling 165,000 square feet were signed by national companies selecting Louisville. Vacancy rates decreased while rents and absorption increased. With continued economic and job growth, the Class A market is projected to tighten further. New speculative developments were announced to help meet demand across various submarkets.
The Columbus office market experienced negative impacts from the pandemic in 2021. Major employers pushed off space decisions or reduced footprints, especially in suburban submarkets which saw over 1.2 million square feet of negative absorption and an 8% rise in vacancy. The CBD was less impacted with a 5% rise in vacancy and 324,000 square feet of negative absorption. While work-from-home flexibility may become more common, employers are expected to still use office spaces as hubs for employee engagement. The market now has sufficient new and vacated Class A space to accommodate expanding companies in both the suburbs and CBD for the "new normal" going forward.
The tourism report summarizes record-breaking tourism metrics for Greater Zion in 2022. Key points include:
- Highest ever annual average daily rate (ADR), total room revenue (TRT), and revenue per available room (RevPar) for hotels.
- Highest ever visitor numbers to Zion National Park and Sand Hollow State Park.
- Highest number of airport passengers.
- TRT revenue and ADR increases were the highest in the state.
The report outlines strong performance for the local tourism economy.
Greater Zion Tourism Report for November 2020greaterzion
The document provides tourism data and reports for the Greater Zion region through November 2020. It summarizes declines in travel spending, hotel occupancy rates, airport passenger numbers, and visitation for state parks and Zion National Park compared to the same periods in 2019 due to the COVID-19 pandemic. National traveler sentiment surveys also found increased anxiety about travel and a decreased likelihood of traveling in the next three months. Local factors like event cancellations and new restrictions further impacted the tourism economy in the region.
Community living supports in the state of michiganJColaianne
This document contains benchmark data on community living supports (CLS) spending and utilization within the state of Michigan from 2006 to 2013. It shows that statewide annual CLS spending increased from $228 million to $432 million during this period. The four regions of Lenawee, Livingston, Monroe, and Washtenaw had higher average CLS costs per case, units per case, and percentage of total service costs attributed to CLS compared to statewide averages. Projections show CLS costs for these regions continuing to rise through 2017 without a rate increase.
This document summarizes funding sources and expenditures for a school district. It receives 62% of its funding from the state and discusses expending 77% of every dollar on instruction and student support. It also provides data on referendums showing the district ranks low compared to others for operating referendum amounts per student. It recommends two referendum questions to address budget shortfalls totaling $686 and $123 per student for 10 years.
See current (Q2 2016) Chicago office market statistics, including inventory, absorption, vacancy, average asking rents and construction. We analyze Class A and B space, as well as averages, across all of Chicago and in submarkets including the CBD, River North, West Loop, O'Hare, North Lake County and more.
Study Session December 14, 2016- KPMG Financial ReviewCity of Corona
This document summarizes a study session on unfunded pension liabilities and obligations for the City of Corona. It discusses that KPMG was contracted to review pension and other post-employment benefit liabilities and perform a sustainability analysis. It then provides an overview of the city's sales and property tax revenues over the last 10 years, as well as steps taken to address shortfalls, such as department reorganizations, position eliminations, and refinancing bonds.
The document discusses tourism in St. George, Utah from September 2021. It notes that the 2021 IRONMAN 70.3 World Championship brought over 11,000 visitors and $18 million in economic impact. The 2022 IRONMAN World Championship will be held in St. George. Tourism is a major industry for the area, generating over $600 million in direct visitor spending annually and supporting nearly 9,000 jobs. Transient room taxes from tourism provide funds for facilities and events that attract more visitors.
Hilton Head Island Tourism Statistics Do Speak for Themselvespeterb442
This document contains charts and graphs related to tourism statistics for Hilton Head Island and Myrtle Beach over multiple years. It shows:
- The number of annual visitors to Hilton Head Island increased 20% from 1998-2013 but was relatively flat compared to 1997.
- Myrtle Beach saw significantly larger growth in annual visitors than Hilton Head Island from 1997-2012, with an increase of 29% compared to a 1% decrease for Hilton Head.
- Revenue and expenses for the Hilton Head Island Chamber of Commerce and CVB are shown from 2007-2012.
JLL Louisville Office Outlook - Q3 2019Alex Westcott
The document provides an analysis of the Louisville, KY office market in Q3 2019. Key points include:
- Humana continued renovating its owned office space, vacating leased space and impacting availability downtown.
- Suburban leasing remained steady, with two large deals in Commerce Crossings.
- The market remains split between contracting CBD due to moves to owned space, and steady suburban activity, though overall vacancy is up downtown.
JLL just released the Q1 Chicago Suburbs Office Outlook. The report has some great insight into recent market activity and provides a forecast for the year ahead.
JLL Detroit Office Insight & Statistics – Q2 2016Aaron Moore
The quagmire persists – high demand and not enough supply. CBD vacancy rates for the second quarter were 14.5 percent as office construction has come to a virtual halt.
JLL Pittsburgh Office Outlook - Q4 2015Andrew Batson
JLL's Pittsburgh Office Outlook identifies the top trends driving the local real estate market. The report also includes an analysis of market statistics, leasing activity, notable sales transactions and economic conditions.
- Increased leasing activity across most submarkets has dropped the total vacancy rate to 16.7 percent.
- The technology sector exhibits the most demand with over 600,000 square feet of tenant requirements active in the market.
- Development is focused on urban submarkets, totaling 841,026 square feet under construction, as companies seek higher-quality space downtown and in urban areas.
While institutional investors have primarily invested in suburban office assets over the past six quarters, the downtown office market is expected to see a shift in this trend over the second half of 2016. Several large downtown assets are currently listed for sale, which could attract more institutional investment to the urban core. Large blocks of vacant office space have become available in the northern suburbs due to relocations, shifting leverage towards tenants looking in those areas. However, strong leasing activity is projected to continue filling the space. Speculative development projects are moving from build-to-suit to filling the suburban pipeline, reflecting increased tenant demand outside of the downtown area.
The Pittsburgh office market experienced approximately 600,000 square feet of negative absorption in Q1 2021 as large companies placed sublease space on the market. Total vacancy reached 20.6% due to increased sublease availability putting upward pressure on vacancy rates. While activity has been slow over the past year, office re-entry is expected to return to 80% by the end of 2021 as vaccines roll out. Remote work will impact leasing demand going forward as companies have proven remote work can be successful but comes with costs of reduced collaboration.
The document summarizes the Q3 2021 real estate market report for Pittsburgh, Pennsylvania. It finds that new leasing is slowly recovering as more companies begin returning to offices, representing 81% of 2020 levels. However, net absorption remains negative as the recovery remains gradual. Asking rental rates have increased slightly by 2.4% year-over-year as new construction delivers at higher prices. Tenants continue pursuing newer, higher-quality buildings in desirable locations like the Strip District. New construction has lagged pre-pandemic levels, which will constrain supply growth over the next year.
JLL Detroit Office Insight & Statistics - Q4 2017Harrison West
Total vacancy fell to 18.5 percent across the metro, while average asking rents rose to $19.18. In total, 885,582 square feet of office space was absorbed in 2017. Multiple significant lease transactions took place in the fourth quarter, perhaps most notably Google’s announcement to move from Birmingham to a 17,000-square-foot space at the office component of the new Little Caesars Arena
YTD net absorption across the Pittsburgh office market was 209,030 square feet. Vacancy increased to 16.8% due to SAP Ariba vacating 109,000 square feet in the CBD. While leasing activity has been consistent, new construction has captured most demand, putting downward pressure on asking rents for existing properties. Landlords are enhancing amenities to compete, and over 450,000 square feet of positive absorption has occurred in renovated properties since 2016.
The tourism report summarizes record-breaking tourism metrics for Greater Zion in 2022. Key points include:
- Highest ever annual average daily rate (ADR), total room revenue (TRT), and revenue per available room (RevPar) for hotels.
- Highest ever visitor numbers to Zion National Park and Sand Hollow State Park.
- Highest number of airport passengers.
- TRT revenue and ADR increases were the highest in the state.
The report outlines strong performance for the local tourism economy.
Greater Zion Tourism Report for November 2020greaterzion
The document provides tourism data and reports for the Greater Zion region through November 2020. It summarizes declines in travel spending, hotel occupancy rates, airport passenger numbers, and visitation for state parks and Zion National Park compared to the same periods in 2019 due to the COVID-19 pandemic. National traveler sentiment surveys also found increased anxiety about travel and a decreased likelihood of traveling in the next three months. Local factors like event cancellations and new restrictions further impacted the tourism economy in the region.
Community living supports in the state of michiganJColaianne
This document contains benchmark data on community living supports (CLS) spending and utilization within the state of Michigan from 2006 to 2013. It shows that statewide annual CLS spending increased from $228 million to $432 million during this period. The four regions of Lenawee, Livingston, Monroe, and Washtenaw had higher average CLS costs per case, units per case, and percentage of total service costs attributed to CLS compared to statewide averages. Projections show CLS costs for these regions continuing to rise through 2017 without a rate increase.
This document summarizes funding sources and expenditures for a school district. It receives 62% of its funding from the state and discusses expending 77% of every dollar on instruction and student support. It also provides data on referendums showing the district ranks low compared to others for operating referendum amounts per student. It recommends two referendum questions to address budget shortfalls totaling $686 and $123 per student for 10 years.
See current (Q2 2016) Chicago office market statistics, including inventory, absorption, vacancy, average asking rents and construction. We analyze Class A and B space, as well as averages, across all of Chicago and in submarkets including the CBD, River North, West Loop, O'Hare, North Lake County and more.
Study Session December 14, 2016- KPMG Financial ReviewCity of Corona
This document summarizes a study session on unfunded pension liabilities and obligations for the City of Corona. It discusses that KPMG was contracted to review pension and other post-employment benefit liabilities and perform a sustainability analysis. It then provides an overview of the city's sales and property tax revenues over the last 10 years, as well as steps taken to address shortfalls, such as department reorganizations, position eliminations, and refinancing bonds.
The document discusses tourism in St. George, Utah from September 2021. It notes that the 2021 IRONMAN 70.3 World Championship brought over 11,000 visitors and $18 million in economic impact. The 2022 IRONMAN World Championship will be held in St. George. Tourism is a major industry for the area, generating over $600 million in direct visitor spending annually and supporting nearly 9,000 jobs. Transient room taxes from tourism provide funds for facilities and events that attract more visitors.
Hilton Head Island Tourism Statistics Do Speak for Themselvespeterb442
This document contains charts and graphs related to tourism statistics for Hilton Head Island and Myrtle Beach over multiple years. It shows:
- The number of annual visitors to Hilton Head Island increased 20% from 1998-2013 but was relatively flat compared to 1997.
- Myrtle Beach saw significantly larger growth in annual visitors than Hilton Head Island from 1997-2012, with an increase of 29% compared to a 1% decrease for Hilton Head.
- Revenue and expenses for the Hilton Head Island Chamber of Commerce and CVB are shown from 2007-2012.
JLL Louisville Office Outlook - Q3 2019Alex Westcott
The document provides an analysis of the Louisville, KY office market in Q3 2019. Key points include:
- Humana continued renovating its owned office space, vacating leased space and impacting availability downtown.
- Suburban leasing remained steady, with two large deals in Commerce Crossings.
- The market remains split between contracting CBD due to moves to owned space, and steady suburban activity, though overall vacancy is up downtown.
JLL just released the Q1 Chicago Suburbs Office Outlook. The report has some great insight into recent market activity and provides a forecast for the year ahead.
JLL Detroit Office Insight & Statistics – Q2 2016Aaron Moore
The quagmire persists – high demand and not enough supply. CBD vacancy rates for the second quarter were 14.5 percent as office construction has come to a virtual halt.
JLL Pittsburgh Office Outlook - Q4 2015Andrew Batson
JLL's Pittsburgh Office Outlook identifies the top trends driving the local real estate market. The report also includes an analysis of market statistics, leasing activity, notable sales transactions and economic conditions.
- Increased leasing activity across most submarkets has dropped the total vacancy rate to 16.7 percent.
- The technology sector exhibits the most demand with over 600,000 square feet of tenant requirements active in the market.
- Development is focused on urban submarkets, totaling 841,026 square feet under construction, as companies seek higher-quality space downtown and in urban areas.
While institutional investors have primarily invested in suburban office assets over the past six quarters, the downtown office market is expected to see a shift in this trend over the second half of 2016. Several large downtown assets are currently listed for sale, which could attract more institutional investment to the urban core. Large blocks of vacant office space have become available in the northern suburbs due to relocations, shifting leverage towards tenants looking in those areas. However, strong leasing activity is projected to continue filling the space. Speculative development projects are moving from build-to-suit to filling the suburban pipeline, reflecting increased tenant demand outside of the downtown area.
The Pittsburgh office market experienced approximately 600,000 square feet of negative absorption in Q1 2021 as large companies placed sublease space on the market. Total vacancy reached 20.6% due to increased sublease availability putting upward pressure on vacancy rates. While activity has been slow over the past year, office re-entry is expected to return to 80% by the end of 2021 as vaccines roll out. Remote work will impact leasing demand going forward as companies have proven remote work can be successful but comes with costs of reduced collaboration.
The document summarizes the Q3 2021 real estate market report for Pittsburgh, Pennsylvania. It finds that new leasing is slowly recovering as more companies begin returning to offices, representing 81% of 2020 levels. However, net absorption remains negative as the recovery remains gradual. Asking rental rates have increased slightly by 2.4% year-over-year as new construction delivers at higher prices. Tenants continue pursuing newer, higher-quality buildings in desirable locations like the Strip District. New construction has lagged pre-pandemic levels, which will constrain supply growth over the next year.
JLL Detroit Office Insight & Statistics - Q4 2017Harrison West
Total vacancy fell to 18.5 percent across the metro, while average asking rents rose to $19.18. In total, 885,582 square feet of office space was absorbed in 2017. Multiple significant lease transactions took place in the fourth quarter, perhaps most notably Google’s announcement to move from Birmingham to a 17,000-square-foot space at the office component of the new Little Caesars Arena
YTD net absorption across the Pittsburgh office market was 209,030 square feet. Vacancy increased to 16.8% due to SAP Ariba vacating 109,000 square feet in the CBD. While leasing activity has been consistent, new construction has captured most demand, putting downward pressure on asking rents for existing properties. Landlords are enhancing amenities to compete, and over 450,000 square feet of positive absorption has occurred in renovated properties since 2016.
The Pittsburgh office market had quite the summer in 2018. More tenants flock to the urban core, 420 Boulevard of the Allies sold, and District Fifteen is fully leased before delivering.
The document provides an in-depth analysis of the Q4 2020 Columbus office market. It summarizes that construction and preleasing activity indicate developers and users expect reentry in 2021 after the impacts of COVID-19. Specifically, it notes three new speculative buildings broke ground totaling 489,000 square feet, with some preleasing. Vacancy rose to 19.3% due to negative absorption, but asking rents increased over $1 per square foot despite the challenging conditions. The outlook anticipates continued increases in rents and concessions alongside upcoming speculative deliveries.
The COVID-19 pandemic has impacted the Pittsburgh office market. Less than 1% of office inventory was made available through subleases in Q2 2020 as leasing activity declined but started to return to normal levels in June. While over 500,000 square feet of net absorption was negative due to sublease space and slowed leasing, construction of speculative office projects resumed as restrictions were lifted. Demand remains for new construction focusing on health and safety, and the local economy is expected to start regaining footing in the coming months, though 2020 activity may lag previous years.
JLL Detroit Office Insight & Statistics - Q3 2017Harrison West
The document provides an overview of office market trends in Detroit for Q3 2017. Key points include:
- Construction and development activity continued to increase, notably in downtown areas. Several new projects were announced or broke ground.
- Leasing activity was dominated by smaller deals across urban and suburban markets. A few notable leases occurred in the Fisher Building.
- Investment sales saw an uptick, with several high-profile office buildings changing hands at increasing prices.
- Vacancy rates continued falling while asking rents rose, indicating an improving market. The outlook remains positive as conditions strengthen.
Vacancy across the region is down 180 basis points from the third quarter of last year. Much of the gains have come in Class B properties, which have absorbed three times more square footage in 2016 than Class A properties. Find out more in our Q3 Office Outlook.
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JLL Louisville Industrial Outlook - Q3 2019Alex Westcott
The document provides an analysis of the Q3 2019 Louisville industrial real estate market. It summarizes that speculative development announcements increased during the quarter, with over 1 million square feet of new construction planned. Absorption remains steady, though below record levels from 2018, and vacancy rates are expected to rise to around 10% due to increased supply. Overall the industrial market remains strong.
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1. Office
Outlook
An in-depth look at the
Louisville office market.
Analysis includes sales,
leasing, construction and
employment.
Louisville | Q4 2018
JLL Research