Industrial employment sectors have experienced substantial employment expansion over the last year, recording an annualized net gain of 32,200 jobs across the metro.
JLL Pittsburgh Chart of the Week: November 16, 2015Andrew Batson
Tenant activity has driven up rents in Pittsburgh over the last 24 months, and despite a softening of the energy industry, the industrial property sector remains incredibly tight.
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.
JLL Ann Arbor Office Insight & Statistics - Spring 2018Harrison West
Office space in the Ann Arbor market remains in high demand in early 2018. Total vacancy has decreased 1.7 percent year-over-year to its current 8.3 percent. The average asking rent for the market is $24.09 per square foot, while downtown and suburban rents are $30.62 and $23.09 per square foot, respectively.
The U.S. labor market added a whopping 223,000 nonfarm payroll jobs in the month of May, blowing away economists' projections of 190,000. This is a substantial increase from the 159,000 jobs that were gained last month.
The national unemployment rate also slightly decreased to 3.8%, setting a newer 17-year low. This places the total number of unemployed Americans to 6.1 million, down 772,000 workers (or 0.5%) over the year. The labor force participation rate also edged down to 62.7%.
JLL Chicago Chart of the Week - January 11, 2016pmarshjll
Industrial development anticipated to accelerate in 2016
After closing out 2015 with 19.1 million square feet of industrial deliveries, the Chicago industrial market is headed toward an even larger expansion in the coming year. The current development pipeline suggests that new industrial deliveries could approach 23.6 million square feet by year end.
We expect 15.7 million square feet of speculative completions in 2016 a significant leap from the 9.4 million square feet delivered last year that is outpacing the current built-to-suit pipeline by a near two to one ratio.
At present build-to-suit development is being largely driven by manufacturers and food and beverage users which have already committed to 2.7 and 1.9 million square feet respectively.
Industrial employment sectors have experienced substantial employment expansion over the last year, recording an annualized net gain of 32,200 jobs across the metro.
JLL Pittsburgh Chart of the Week: November 16, 2015Andrew Batson
Tenant activity has driven up rents in Pittsburgh over the last 24 months, and despite a softening of the energy industry, the industrial property sector remains incredibly tight.
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.
JLL Ann Arbor Office Insight & Statistics - Spring 2018Harrison West
Office space in the Ann Arbor market remains in high demand in early 2018. Total vacancy has decreased 1.7 percent year-over-year to its current 8.3 percent. The average asking rent for the market is $24.09 per square foot, while downtown and suburban rents are $30.62 and $23.09 per square foot, respectively.
The U.S. labor market added a whopping 223,000 nonfarm payroll jobs in the month of May, blowing away economists' projections of 190,000. This is a substantial increase from the 159,000 jobs that were gained last month.
The national unemployment rate also slightly decreased to 3.8%, setting a newer 17-year low. This places the total number of unemployed Americans to 6.1 million, down 772,000 workers (or 0.5%) over the year. The labor force participation rate also edged down to 62.7%.
JLL Chicago Chart of the Week - January 11, 2016pmarshjll
Industrial development anticipated to accelerate in 2016
After closing out 2015 with 19.1 million square feet of industrial deliveries, the Chicago industrial market is headed toward an even larger expansion in the coming year. The current development pipeline suggests that new industrial deliveries could approach 23.6 million square feet by year end.
We expect 15.7 million square feet of speculative completions in 2016 a significant leap from the 9.4 million square feet delivered last year that is outpacing the current built-to-suit pipeline by a near two to one ratio.
At present build-to-suit development is being largely driven by manufacturers and food and beverage users which have already committed to 2.7 and 1.9 million square feet respectively.
The unemployment rate for October 2018 remained at 3.7 percent, the lowest rate since December of 1969. A whopping 250,000 jobs were added in the month of October. Additionally, the number of unemployed persons remained nearly unchanged with a total of 6.1 million people.
Over the past 12 months, the number of unemployed persons decreased by 449,000 people and the unemployment rate has dropped 0.4 percent. Checkout out JSG's October 2018 Jobs Report for more insights on the job market.
China industrial robots market opportunity analysisRajesh Sarma
“China Industrial Robots Market Opportunity Analysis” gives comprehensive insight on following issues related to development of Industrial robotics market in china:
Industrial Robots Market Overview
Local Production & import of Industrial Robots
Robots Usage by Industry
Favorable Market Dynamics
Ongoing Government Support & Incentives
Market Opportunities Ahead
Competitive Landscape
Mechanical engineering solution is core to any construction project and TechnoStruct LLP as an industry expert ensures that it delivers sustainable construction designs & techniques and complete support throughout the construction project that includes and is not limited to- feasibility studies, system analysis, schematic design, contract documents, design development, HVAC Controls and Plumbing System.
Example of a market size study for trades industry in US, UK, Asia and Australia markets with additional focus on no. of trades people and material spend in each region (list of sources included).
JLL Columbus Chart of the Week: November 23, 2015 Ross Bratcher
Rising demand across the Columbus office market has led to steady decreases in vacancy across both Class A and Class B assets. Class A vacancy currently stands at 9.7 percent, a decrease of 2.7 percent year-over-year. Meanwhile, Class B vacancy is 15.1 percent, a decline of 20 basis points year-over-year.
Industrial development driving prosperity in a market where the pipeline has ...Jacob Attaway
Industrial development is driving economic prosperity in the Winter Haven-Lakeland area, where there is a strong 0.99 correlation between growth in industrial inventory and wages. Over 2.5 million square feet of new industrial space is slated for development in the next two years, which should support continued wage growth. The area has seen significant economic expansion over the last 20 years, with total GDP growing 37.7%, population up 50.2%, and industrial sector jobs increasing 18%. Amazon's new $100 million air cargo facility alone will create 800-1000 jobs starting in July 2020.
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.
JLL Cleveland Chart of the Week: November 9, 2015Andrew Batson
Recent gains in production and productivity have placed downward pressure on industrial availability and further tenant demand growth in the industrial property sector is forecasted over the coming year as local manufacturing companies require more space to build and store inventories.
JLL Cleveland Chart of the Week: November 2, 2015Andrew Batson
Industrial demand in Cleveland has been increasing due to production gains by local manufacturing companies. A report projects gross regional product and productivity in Cleveland will surge 25% and 65% over the next ten years, respectively, putting downward pressure on industrial space and increasing demand for more warehouse and manufacturing space. Recent space gains have already lowered industrial availability in the area and further demand growth is expected as companies need more room for building inventories.
Tom earned 200,000 from 35,000,000,000 divided by 200,000 which is 175,000. There was a review of a beta test of 800 cases in Yeosu, Namhae with 50,000 costs for B-V1, 200,000 for B-V2, and contact for B-E. The TOM system provides traffic signal maintenance and IT services effectively and easily.
Rent growth has remained strong in the tri-county area around Miami aided by new construction since 2018, with rents growing 3.8% and now 25.3% higher than the 5-year average. Over 3.2 million square feet is currently under construction, with over 45% located in four notable CBD projects. While office employment has grown 2.7% since early 2018, office occupancy growth has plateaued, counter to expectations given employment growth. This is likely due to the rise of co-working spaces, more efficient space usage by companies, and relocations to new buildings.
The Innovation Cities Index analyzes 500 top cities annually across 162 indicators since 2009 to evaluate cities' performance in economics, environment, and equity of opportunity. It provides data-driven theories to help cities adjust policies across 12 areas including smart manufacturing, effects of firm objectives on the economy, and effects of industry diversity using a special definition. The index aims to help cities model best practices for inclusive economic growth.
This document discusses how companies are exploiting data science in various industries. It provides examples of using gaming data to create new products, using production line sensor data and machine learning to schedule maintenance, and using a neural network trained on artificially curled pages to remove page curling from scanned books in a non-destructive manner. The gaming data example increased one company's revenue by €75k-€150k annually and the production line example could save hundreds of thousands per day in breakdown costs if scaled globally across industries.
The document summarizes South Africa's National Energy Efficiency Strategy (NEES) from 2005. The NEES prioritizes five sectors for reducing energy demand: industrial and mining, commercial, public building, residential, and transport. It sets targets to reduce energy demand in each sector by 2015. The document then discusses how the Energy Efficiency Monitoring System works, providing an analysis of trends in energy efficiency improvements in the industrial and mining sector from 2000-2010. It outlines the data collection and reporting process for industry to monitor progress towards energy reduction targets.
Industry 4.0 - Smart Connected Factories for Smart Manufacturing - ePROMIS ER...ePROMIS Solutions
The concept of “Smart Factory” is becoming a reality for manufacturers. A wide range of ideas and innovations that loosely fall under “Industry 4.0” are already started contributing to factory operations. Industry 4.0 will shape the future of ERP software systems for the manufacturing industry. ERP software industry leaders including Houston-based ePROMIS have made investments in technology and innovation to incorporate new technologies such as machine learning, cloud deployment, and predictive analytics into their ERP software ecosystem.
The document discusses key macroeconomic concepts including:
- The components of GDP from the expenditure side including personal consumption expenditures, investment, government spending, and net exports.
- Definitions and examples of personal consumption expenditures, investment, government spending, and net exports.
- Charts showing GDP by expenditures and industrial origin in Indonesia from 2000-2012.
- Contributions of different components and economic sectors to Indonesian GDP growth from 2012.
- Real GDP growth rates in Indonesia from 1980-2017.
- The progression from GDP to disposable personal income when accounting for international factors and various payments.
The July 2018 jobs report from the U.S. Bureau of Labor Statistics showed that 157,000 jobs were created in July, below economists' expectations of 190,000. The unemployment rate remained at 3.9% while average hourly earnings increased 2.7%. Major job gains occurred in professional and business services which increased by 51,000 jobs, manufacturing which increased by 37,000 jobs, and healthcare and social assistance which increased by 34,000 jobs. Employment in other industries such as mining, wholesale trade, and government showed little change.
The Cotocon Group has provided two case studies advising Building Owners and Managers must act fast, and understand their building's energy performance, and have a plan in place before 2024!
Building A:
B - Business, Office | 498,500 square feet | 2018 ENERGY STAR Score: 75 (CERTIFIED
Building B:
B - Business, Office | 83,200 square feet | 2018 ENERGY STAR Score: 18
Look at who's in compliance and who's not... and if these fines don't scare you - then maybe losing a few Million Dollars in Value WILL!
Construction activity and tenant improvement allowances are growing as the US economic recovery continues. As more new construction comes online, landlords are offering more attractive tenant improvement packages to attract tenants, customizing spaces up to $50 per square foot in major city centers. Construction costs remain high but are growing more slowly, driven by increases in materials like gypsum board and lumber. Overall construction starts in Q2 2015 reached their highest point since before the recession.
Construction costs continue to grow nationwide, and many landlords are looking to redevelop existing stock in major markets.
Tenant improvements (TIs) are also gaining momentum, and office landlords are competing for by offering more attractive TI packages. These offerings allow tenants to customize interiors without paying for a full redesign out of pocket, and are a key piece of lease negotiations. The average TI allowance nationwide is $30.00 per square foot, and just over $50.00 per square foot in CBDs.
The industrial real estate market in the Greater Montreal Area saw improvements in the second quarter of 2015. New industrial construction starts nearly doubled compared to the beginning of the year, signaling continued market recovery. While unemployment rose, full-time employment increased with gains in manufacturing and transportation jobs. Absorption of industrial space rose over 1 million square feet, indicating more space was leased during the quarter. The availability rate increased slightly due to new space added to the market.
The document provides an executive summary of CBRE Research's 2016 TechBook Chicago report. It finds that Chicago's tech ecosystem continues to grow, with tech tenants occupying 11.5 million square feet in the CBD. The largest concentration is in the West Loop submarket, while the greatest impact has been in the Fulton Market/Far West Loop area where tech makes up 45.2% of the inventory. Demand for office space from tech companies has risen significantly in recent years, with over 6.8 million square feet leased since 2011. However, concerns remain about a possible tech bubble given high valuations of some startups.
The unemployment rate for October 2018 remained at 3.7 percent, the lowest rate since December of 1969. A whopping 250,000 jobs were added in the month of October. Additionally, the number of unemployed persons remained nearly unchanged with a total of 6.1 million people.
Over the past 12 months, the number of unemployed persons decreased by 449,000 people and the unemployment rate has dropped 0.4 percent. Checkout out JSG's October 2018 Jobs Report for more insights on the job market.
China industrial robots market opportunity analysisRajesh Sarma
“China Industrial Robots Market Opportunity Analysis” gives comprehensive insight on following issues related to development of Industrial robotics market in china:
Industrial Robots Market Overview
Local Production & import of Industrial Robots
Robots Usage by Industry
Favorable Market Dynamics
Ongoing Government Support & Incentives
Market Opportunities Ahead
Competitive Landscape
Mechanical engineering solution is core to any construction project and TechnoStruct LLP as an industry expert ensures that it delivers sustainable construction designs & techniques and complete support throughout the construction project that includes and is not limited to- feasibility studies, system analysis, schematic design, contract documents, design development, HVAC Controls and Plumbing System.
Example of a market size study for trades industry in US, UK, Asia and Australia markets with additional focus on no. of trades people and material spend in each region (list of sources included).
JLL Columbus Chart of the Week: November 23, 2015 Ross Bratcher
Rising demand across the Columbus office market has led to steady decreases in vacancy across both Class A and Class B assets. Class A vacancy currently stands at 9.7 percent, a decrease of 2.7 percent year-over-year. Meanwhile, Class B vacancy is 15.1 percent, a decline of 20 basis points year-over-year.
Industrial development driving prosperity in a market where the pipeline has ...Jacob Attaway
Industrial development is driving economic prosperity in the Winter Haven-Lakeland area, where there is a strong 0.99 correlation between growth in industrial inventory and wages. Over 2.5 million square feet of new industrial space is slated for development in the next two years, which should support continued wage growth. The area has seen significant economic expansion over the last 20 years, with total GDP growing 37.7%, population up 50.2%, and industrial sector jobs increasing 18%. Amazon's new $100 million air cargo facility alone will create 800-1000 jobs starting in July 2020.
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.
JLL Cleveland Chart of the Week: November 9, 2015Andrew Batson
Recent gains in production and productivity have placed downward pressure on industrial availability and further tenant demand growth in the industrial property sector is forecasted over the coming year as local manufacturing companies require more space to build and store inventories.
JLL Cleveland Chart of the Week: November 2, 2015Andrew Batson
Industrial demand in Cleveland has been increasing due to production gains by local manufacturing companies. A report projects gross regional product and productivity in Cleveland will surge 25% and 65% over the next ten years, respectively, putting downward pressure on industrial space and increasing demand for more warehouse and manufacturing space. Recent space gains have already lowered industrial availability in the area and further demand growth is expected as companies need more room for building inventories.
Tom earned 200,000 from 35,000,000,000 divided by 200,000 which is 175,000. There was a review of a beta test of 800 cases in Yeosu, Namhae with 50,000 costs for B-V1, 200,000 for B-V2, and contact for B-E. The TOM system provides traffic signal maintenance and IT services effectively and easily.
Rent growth has remained strong in the tri-county area around Miami aided by new construction since 2018, with rents growing 3.8% and now 25.3% higher than the 5-year average. Over 3.2 million square feet is currently under construction, with over 45% located in four notable CBD projects. While office employment has grown 2.7% since early 2018, office occupancy growth has plateaued, counter to expectations given employment growth. This is likely due to the rise of co-working spaces, more efficient space usage by companies, and relocations to new buildings.
The Innovation Cities Index analyzes 500 top cities annually across 162 indicators since 2009 to evaluate cities' performance in economics, environment, and equity of opportunity. It provides data-driven theories to help cities adjust policies across 12 areas including smart manufacturing, effects of firm objectives on the economy, and effects of industry diversity using a special definition. The index aims to help cities model best practices for inclusive economic growth.
This document discusses how companies are exploiting data science in various industries. It provides examples of using gaming data to create new products, using production line sensor data and machine learning to schedule maintenance, and using a neural network trained on artificially curled pages to remove page curling from scanned books in a non-destructive manner. The gaming data example increased one company's revenue by €75k-€150k annually and the production line example could save hundreds of thousands per day in breakdown costs if scaled globally across industries.
The document summarizes South Africa's National Energy Efficiency Strategy (NEES) from 2005. The NEES prioritizes five sectors for reducing energy demand: industrial and mining, commercial, public building, residential, and transport. It sets targets to reduce energy demand in each sector by 2015. The document then discusses how the Energy Efficiency Monitoring System works, providing an analysis of trends in energy efficiency improvements in the industrial and mining sector from 2000-2010. It outlines the data collection and reporting process for industry to monitor progress towards energy reduction targets.
Industry 4.0 - Smart Connected Factories for Smart Manufacturing - ePROMIS ER...ePROMIS Solutions
The concept of “Smart Factory” is becoming a reality for manufacturers. A wide range of ideas and innovations that loosely fall under “Industry 4.0” are already started contributing to factory operations. Industry 4.0 will shape the future of ERP software systems for the manufacturing industry. ERP software industry leaders including Houston-based ePROMIS have made investments in technology and innovation to incorporate new technologies such as machine learning, cloud deployment, and predictive analytics into their ERP software ecosystem.
The document discusses key macroeconomic concepts including:
- The components of GDP from the expenditure side including personal consumption expenditures, investment, government spending, and net exports.
- Definitions and examples of personal consumption expenditures, investment, government spending, and net exports.
- Charts showing GDP by expenditures and industrial origin in Indonesia from 2000-2012.
- Contributions of different components and economic sectors to Indonesian GDP growth from 2012.
- Real GDP growth rates in Indonesia from 1980-2017.
- The progression from GDP to disposable personal income when accounting for international factors and various payments.
The July 2018 jobs report from the U.S. Bureau of Labor Statistics showed that 157,000 jobs were created in July, below economists' expectations of 190,000. The unemployment rate remained at 3.9% while average hourly earnings increased 2.7%. Major job gains occurred in professional and business services which increased by 51,000 jobs, manufacturing which increased by 37,000 jobs, and healthcare and social assistance which increased by 34,000 jobs. Employment in other industries such as mining, wholesale trade, and government showed little change.
The Cotocon Group has provided two case studies advising Building Owners and Managers must act fast, and understand their building's energy performance, and have a plan in place before 2024!
Building A:
B - Business, Office | 498,500 square feet | 2018 ENERGY STAR Score: 75 (CERTIFIED
Building B:
B - Business, Office | 83,200 square feet | 2018 ENERGY STAR Score: 18
Look at who's in compliance and who's not... and if these fines don't scare you - then maybe losing a few Million Dollars in Value WILL!
Construction activity and tenant improvement allowances are growing as the US economic recovery continues. As more new construction comes online, landlords are offering more attractive tenant improvement packages to attract tenants, customizing spaces up to $50 per square foot in major city centers. Construction costs remain high but are growing more slowly, driven by increases in materials like gypsum board and lumber. Overall construction starts in Q2 2015 reached their highest point since before the recession.
Construction costs continue to grow nationwide, and many landlords are looking to redevelop existing stock in major markets.
Tenant improvements (TIs) are also gaining momentum, and office landlords are competing for by offering more attractive TI packages. These offerings allow tenants to customize interiors without paying for a full redesign out of pocket, and are a key piece of lease negotiations. The average TI allowance nationwide is $30.00 per square foot, and just over $50.00 per square foot in CBDs.
The industrial real estate market in the Greater Montreal Area saw improvements in the second quarter of 2015. New industrial construction starts nearly doubled compared to the beginning of the year, signaling continued market recovery. While unemployment rose, full-time employment increased with gains in manufacturing and transportation jobs. Absorption of industrial space rose over 1 million square feet, indicating more space was leased during the quarter. The availability rate increased slightly due to new space added to the market.
The document provides an executive summary of CBRE Research's 2016 TechBook Chicago report. It finds that Chicago's tech ecosystem continues to grow, with tech tenants occupying 11.5 million square feet in the CBD. The largest concentration is in the West Loop submarket, while the greatest impact has been in the Fulton Market/Far West Loop area where tech makes up 45.2% of the inventory. Demand for office space from tech companies has risen significantly in recent years, with over 6.8 million square feet leased since 2011. However, concerns remain about a possible tech bubble given high valuations of some startups.
U.S. office market statistics (Q4 2014) and 2015 outlook JLL
Now at its strongest point in the recovery, the economy grew by nearly 3.0 million jobs in 2014, pushing unemployment to its lowest level since the third quarter of 2008. As a result, markets across the country recorded expansionary activity as corporate confidence grew along with demand for office space. Annual net absorption totaled 54.7 million square feet driving vacancy to 15.6 percent—its lowest point since 2008—a trend expected to continue over the next 24 months.
While challenges exist ahead, including historically low labor force participation and the recent fall in oil prices, forecasts for 2015 and 2016 across the U.S. project the highest growth in more than a decade.
Learn more and see market-by-market data at http://bit.ly/1yy1zss
Office employment in Detroit contracted in recent months, with professional and business services adding 2,300 jobs but financial services losing 3,900 jobs. Downtown Detroit saw a high-profile lease announcement from Fifth Third Bank for 62,000 square feet in One Woodward to become its new regional headquarters. In the fourth quarter, Bedrock Real Estate Services and Meridian Health purchased the 1.1 million square foot Compuware building for $142 million, planning to consolidate employees starting in 2015.
Downtown Detroit is in the midst of a renaissance, bolstered by a recent series of high-profile lease announcements, the latest of which was by Fifth Third Bank.
With the economy growing at its fastest pace in the current cycle, employers across industries are adding jobs, especially in urban and dense markets where talent is migrating. As a result, expansionary activity remained the dominant driver of leasing in the third quarter, accounting for 57.9 percent of lease transactions.
The document provides an overview of the office market in Toronto for the third quarter of 2014. It finds that vacancy rates continued to decline in the downtown core while rising in the suburbs. Demand was strongest in the financial and technology sectors, particularly for large spaces downtown. Investment activity remained constrained due to limited supply, though new development projects were attracting investors. Vacancy increased in the midtown area following a large space being sublet. The central north market saw a slowdown in leasing despite low vacancy.
Indian economic growth remained sluggish through the end of 2012, however we expect industrial activity to improve, thanks to recent government actions. These include the government-proposed National Investment and Manufacturing Zones and the newly approved 51% foreign direct investment in multi-brand retail trading.
Global Industrial Mid-Year 2013 ReportCoy Davidson
1) Demand for industrial warehouse space remains strong in North America despite slow job growth, with vacancy rates declining for the 8th quarter in a row.
2) In Asia, demand is supported by resilient consumer spending, with rental growth expected in most cities. Beijing and Hong Kong in particular see nearly full occupancy for quality warehouses.
3) Latin American markets like Mexico City and São Paulo see construction activity but absorption is matching new supply, while Buenos Aires suffers from an imbalance of high demand and little available space.
What's been driving the Fort Lauderdale office market?Marc Miller
The document discusses trends in the Fort Lauderdale office market from 2018 to present. It notes that while coworking space has seen limited growth, there has been strong interest from coworking operators. Additionally, there has been a "flight to quality" trend where tenants upgrade from lower-tier space to more institutional-grade assets. Specifically, nearly 288,000 square feet has been leased by tenants upgrading from untracked Class C space. Many of these upgrading tenants have been large companies moving to Class A properties. This upgrading of space by true occupiers has helped improve stability and increase landlord values in the Fort Lauderdale office 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
Employment levels and office sector expansions are at all-time highs in the St. Louis area. Net absorption of office space has also increased, with over 600,000 square feet absorbed so far in 2015 alone. While absorption is up, over half of leasing transactions for spaces over 10,000 square feet have been renewals due to a lack of large blocks of Class A office space. The tight market conditions are expected to lead to new multi-tenant office development in the near future.
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.
W06.01 Summary Affordable Homes: Building mass housing in IndiaShuvashish Chatterjee
India has a deficit of 18 million homes in its cities. Majority of the demand is at a significantly lower price point compared to the mainstay industry. Over the next decade the country has to produce on an average 8500 low cost homes every day.
This adds up to an annual business potential of 30 Bn $.In our recent report Affordable Homes: Building Mass housing in India we evaluate the levers India has to pull it off.
The U.S. office sector posted the highest quarterly absorption of the recovery to date, 13.9 million square feet. Q2 also posted 61.9 million square feet of leasing activity, with levels up 6.2 percent from Q1. Vacancy dropped by 30 basis points to a recovery low of 16.3 percent. Asking rents declined by 0.7 percent to $30.00 per square foot, but that number is deceiving as blocks of Class A space have been taken off the market.
Overall, the leasing environment continues to favor landlords, putting tenants in tough negotiation positions.
Get your free copy of our complete report on the state of the U.S. office market, and expectations for the rest of 2014, at http://bit.ly/1qc52ot
Re-Thinking The Office Market: Office Sector Realities and Strategies (Christ...Virtual ULI
The document summarizes the current state and future outlook of the national office market in the United States. It notes that office vacancy rates have stabilized at 13.1% nationally, with net absorption nearly doubling in the third quarter led by strong growth in San Francisco. However, performance varies widely across markets. While demand is close to pre-recession levels based on GDP, hiring has not returned to the same degree. The future of the office market depends on factors like future corporate hiring levels and the amount of new office construction.
The Washington DC office market saw limited growth in the third quarter of 2012, with net absorption of only 12,000 square feet. Vacancy rates fell slightly to 10.3% despite uncertainty around elections and government spending keeping demand cautious. Average asking rents rose modestly by 1.2% over the quarter. Small to mid-size private sector tenants such as law firms and non-profits drove the limited demand while the public sector remained stalled awaiting policy decisions. No new supply was delivered in the quarter and vacancy is expected to remain flat with modest rental growth over the next 18 months due to a lack of significant demand drivers.
1) Downtown Detroit is experiencing a renaissance bolstered by large lease announcements like Fifth Third Bank signing a lease for 62,000 square feet to serve as its regional headquarters.
2) Office employment in Detroit grew in 2014, led by gains in the professional and business services sector, though growth tapered somewhat. Unemployment decreased to 6.3%.
3) Landlords in Detroit have begun pushing rents higher due to declining vacancy rates and steady demand gains in recent years. Class A asking rents were up 2.9% year-over-year in Q1 2015.
Similar to Detroit Industrial Insight Q2 2015 (20)
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.
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.
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.
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.
- Indianapolis unemployment rate decreased slightly to 4.4% while total employment reached a new historical high of 981,713 jobs.
- U.S. job growth in August was lower than expected at 173,000 jobs, below the recent range of 200,000-250,000. The U.S. unemployment rate fell to 5.1%.
- Indianapolis saw growth across many sectors such as trade, transportation, and utilities (6.0%), professional and business services (5.1%), and manufacturing (2.1%).
The local labor force remained flat in July as the influx of college graduates leveled off. That, coupled with a growth in employment caused the unemployment rate to decline 20 basis points to 6.1 percent.
The East submarket has historically outperformed other suburban submarkets given its proximity to Fortune 1,000 companies and the region’s most affluent neighborhoods.
Philadelphia-based HaydenMaguire Real Estate Funds purchased of the Amazon distribution center at 2250 Roswell Drive for $29 million or $52 per square foot.
Selling your home can be easy. Our team helps make it happen.Eric B. Slifkin, PA
Why hire one realtor when you can hire a team for the exact cost? Our team ensures better service, communication, and efficiency, which can make all the difference in finding your perfect home or securing the right buyer. See how we market homes for sellers.
Expressways of India: A Comprehensive Guidenarinav14
India’s expressway network is a testament to the nation’s dedication to improving infrastructure and connectivity. These high-speed corridors facilitate seamless travel across vast distances, reducing travel time and fuel consumption
🌟 Find Your Balance with Oree Reality
Happy International Yoga Day! 🌿 At Oree Reality, we believe in the harmony of mind, body, and home. Just as yoga brings balance and peace, finding the perfect home can do the same for your life.
M3M Sector 58 Gurgaon is a residential project that provides 2 BHK, 3 BHK, and 4 BHK luxury residences at the best prices. The development will feature advanced security systems with 24/7 surveillance to ensure the safety of all residents. Ample parking facilities will be available to accommodate the vehicles of residents and visitors.
For More Details
Visit: - m3m.developerprojects.com
To provide an overview of the changes brought by the new Strata Management Regulations 2015 which will have impact on Property Management Practitioners
Find Your Dream Home at Urban Sereno: Premium 2-3 BHK Apartments in Bhubaneswargraphicparadice786
Step into a world of elegance and sophistication at Urban Sereno, where contemporary design meets premium living in the vibrant city of Bhubaneswar. Our 2 and 3 BHK apartments are meticulously crafted to offer unparalleled comfort and luxury, making Urban Sereno the perfect address for your dream home.
Our Mail-id- directsite369@gmail.com
Our Website-
https://urban-sereno.directsite.in/
1. Industrial employment trends (12-month change, 000s)
Source: JLL Research
Industrial construction activity (m.s.f)
Source: JLL Research
Landlords push rents as quality blocks dwindle
Source: JLL Research
7%
12%
17%
22%
$3.80
$4.00
$4.20
$4.40
2010 2011 2012 2013 2014 2015
Asking rents Total availability
Manufacturing is driving Detroit’s industrial employment
Industrial employment sectors have experienced substantial employment
expansion over the last year, recording an annualized net gain of 32,200 jobs
across the metro. Employment gains were led by the manufacturing sector,
which added 14,200 jobs year-over-year, suggesting continued growth in
demand for warehouse space. Recent industrial employment numbers
demonstrate metro Detroit is still a vibrant manufacturing and distribution hub,
only it’s more technologically advanced and smarter than it once was. This
reflects the rapid growth of advanced manufacturing and e-commerce.
Modern space requirements spur new construction
Developers completed more than 1.1 million square feet of new construction in
the past two quarters and have about 1.0 million square feet currently under
construction. Warehouse construction has been developers focus of late,
representing about two thirds of construction activity. Of the product currently
under construction, 511,000 square feet is being built speculative while 340,000
square feet is set for owner-occupancy and the remaining 81,000 square feet is
build to suit. Looking forward, a focus on quality space and convenient location,
rather than price, will drive location decisions for Metro Detroit’s industrial
tenants.
Landlords gain leverage as fundamentals tighten
Detroit's industrial sector is continuing a solid run of activity that has pushed
availability rates in several submarkets to historic lows. Total availability in the
region sank to just 10.9 percent in the second quarter as users absorbed over
2.0 million square feet of space. As the market fundamentals have continued to
tighten, negotiating leverage has sifted into the landlord’s hands. This is
particularly true in the I-75 Corridor submarket where absorption gains have
totaled more than 1.8 million square feet. Based on demand trends and current
requirements, total availability is projected to decrease near 10.0 percent by the
end of the year.
Detroit industrial showing signs of resurgence
Industrial Insight
Detroit | Q2 2015
48,481,270
Total availability (s.f.)
1,313,157
YTD Total net absorption (s.f.)
$4.28
YTD Average Asking Rates
932,000
Total under construction (s.f.)
10.9%
Total Availability
0.3%
YTD total net absorption
5.3%
YOY Rent Growth
1,072,000
YTD completions (s.f.)
-10.0
5.0
20.0
35.0
2011
2012
2013
2014
2015
Mining, Logging & Construction Trade,Transportation & Utilities Manufacturing Other Services
0.0
0.4
0.8
1.2
Completions YTD Under Construction Pipeline
雅虎竞拍
煤炉代买
paypay商城
乐天二手
日本亚马逊
乐天新品
ZOZOTOWN
