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.
Over the coming year, rent increases are forecasted to continue within the Class A product type while asking rents for Class B assets are forecasted to hold firm as vacancy increases and negotiating leverage shifts.
Office employment continues to reach new highs and vacancy rates are dropping in Northwest County. Leasing activity is concentrated in core suburban markets, with large leases from companies like SunEdison, Charter, and Boeing reducing vacancy in Northwest County. With demand for space exceeding the limited supply of large Class A office options in the suburbs, there is potential for new construction projects to break ground.
Visitor traffic to the site doubled from 2009 to 2012 and tripled from 2007 to 2012, with over 3 million visitors per year. The site is the market leader in Scotland for property rental listings, gaining 22% more visits year-over-year. Citylets is the top searched phrase for rental property searches in Scotland, searched more often than generic terms, and receives around 3 times as many brand searches as its nearest competitor.
Rising tenant demand in the Cincinnati office market has increased the amount of office space under construction to its highest level in years. The largest upcoming project is a potential 10-story, 235,000 square foot office tower in downtown Cincinnati. Leasing activity has also surged in the Blue Ash/Montgomery submarket following years of decline. Rental rates have risen as well, with Class A space now averaging $21.87 per square foot and Class B space at $15.84 per square foot, reflecting a tightening market with increasing tenant activity.
Exactly how far vacancy rates fall downtown in 2015 remains to be seen as Key Bank hands back several floors at Key Tower and BakerHostetler sheds up to 45,000 square feet through a planned move.
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.
Over the coming year, rent increases are forecasted to continue within the Class A product type while asking rents for Class B assets are forecasted to hold firm as vacancy increases and negotiating leverage shifts.
Office employment continues to reach new highs and vacancy rates are dropping in Northwest County. Leasing activity is concentrated in core suburban markets, with large leases from companies like SunEdison, Charter, and Boeing reducing vacancy in Northwest County. With demand for space exceeding the limited supply of large Class A office options in the suburbs, there is potential for new construction projects to break ground.
Visitor traffic to the site doubled from 2009 to 2012 and tripled from 2007 to 2012, with over 3 million visitors per year. The site is the market leader in Scotland for property rental listings, gaining 22% more visits year-over-year. Citylets is the top searched phrase for rental property searches in Scotland, searched more often than generic terms, and receives around 3 times as many brand searches as its nearest competitor.
Rising tenant demand in the Cincinnati office market has increased the amount of office space under construction to its highest level in years. The largest upcoming project is a potential 10-story, 235,000 square foot office tower in downtown Cincinnati. Leasing activity has also surged in the Blue Ash/Montgomery submarket following years of decline. Rental rates have risen as well, with Class A space now averaging $21.87 per square foot and Class B space at $15.84 per square foot, reflecting a tightening market with increasing tenant activity.
Exactly how far vacancy rates fall downtown in 2015 remains to be seen as Key Bank hands back several floors at Key Tower and BakerHostetler sheds up to 45,000 square feet through a planned move.
This document discusses changes in rental vacancy rates in gentrified areas of Washington D.C. from 2000 to 2010. It finds that the rental vacancy rate in D.C. decreased over this period, while rates in surrounding Northeastern areas increased. Specifically, most gentrified neighborhoods in D.C. saw reductions in their rental vacancy rates, indicating that gentrification may lower vacancies. However, some gentrifying neighborhoods like Edgewood had increasing vacancy rates since they were less developed than other gentrified areas.
JLL Grand Rapids Office Insight Q4 2015Aaron Moore
The repurposing of downtown Grand Rapids’ older office stock is continuing to gain momentum. There has been a diverse mix of new construction and redevelopments, which addressed the inventory shortage issue.
Office-occupying employment has grown for 26 consecutive months, comprising 36% of the region's non-farm payrolls. Absorption has been positive in five of the last six quarters and financial activities employment is up 11.3% since 2007. Healthcare was responsible for over half of leasing activity in the first quarter, led by Mercy's 390,000 square foot renewal. Expect future leasing to be driven by financial and business services which currently total almost 600,000 square feet of demand.
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.
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.
JLL Grand Rapids Office Insight & Statistics - Spring 2017Harrison West
Leasing velocity remains healthy, while rents are holding strong. The urban core is among the most active areas of the market, as newly renovated inventory will soon deliver at 50 Monroe and 250 Monroe.
The document discusses the emerging trends in geographic information systems (GIS) for real estate development. It notes that foreign investment in real estate has increased demand for land information but this information is dispersed across different government departments without standardization. GIS can help integrate this information on land ownership status, infrastructure access, zoning, and utilities. It also discusses how GIS needs are shifting from 2D parcel maps to 3D/4D models with accurate boundaries and property layers to better support complex urban planning activities. Regularly updating integrated regional/national maps will be important to facilitate real estate and land market activities globally.
Industrial market fundamentals continue to tighten in Cleveland amid robust demand growth. Concessions have all but dried up and landlords continue to push rents.
This document summarizes key information about Airbnb, including its founding in 2007, rapid growth and expansion of offerings, strong financial performance in recent years with $2.6B in revenue and $100M in profit in 2017 and $1B+ in quarterly revenue in 2018, plans for an IPO in 2019, and competition from other hotel and accommodation providers. It also provides details on Airbnb's business model, leadership team, and factors contributing to its success like a large network of unique private accommodations and community-focused platform.
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 document discusses cool things in the city from 2010. It focuses on interesting activities and attractions that were popular in the city over a decade ago. In 3 sentences or less, the summary highlights the key topic and time period covered while being concise and to the point.
Northern New Jersey’s Paterson Real Estate Market RisesJamie Simon
Jamie Simon-Wainick is a real estate professional committed to assisting New Jersey clients in the property acquisition and sale process. Knowledgeable about the community she serves, Jamie Simon-Wainick stays informed on real estate trends across northern New Jersey.
One community that has witnessed significant growth is Paterson, which traditionally had crime issues that hampered property investment. However, Zillow data indicates that two Paterson zip codes are among those that appreciated most rapidly from February 2020 to June 2021, with “07501” jumping 32 percent and “07522” rising 26 percent. A major contributor was demographic shifts related to the pandemic.
June 16th Presentation - Kansas City Urban Market Assetsnptech
The document discusses a DrillDown process conducted by the Social Compact nonprofit to more accurately estimate the population, income levels, and purchasing power in urban core areas. The DrillDown uses transactional data from various sources to provide a more detailed picture than Census data alone. It summarizes results from a DrillDown conducted in Kansas City, which found higher populations, incomes, and cash economies in the city and districts than Census estimates. The DrillDown aims to uncover hidden urban market assets to drive investment.
The document discusses a study called the DrillDown that was conducted in Kansas City to more accurately estimate the population, income levels, and purchasing power in urban core areas. The DrillDown uses transactional data from multiple sources to provide information on a more granular level than census data alone. Key findings from the Kansas City DrillDown include estimated populations that are 10-30% higher than census data in many districts, as well as average household incomes that are 13-20% higher when the informal "cash" economy is included. The results have helped attract over $1 billion in new investment to various cities.
Industrial Digitisation / Logistics: Company presentation by Zvi Schreiber, CEO of Freightos at the NOAH Conference 2019 in Tel Aviv, Hangar 11, 10-11 April 2019.
Vacancy at the top of the market is slowly moving upward, although levels remain below historic norms. New supply and givebacks upon relocation due to efficiency have begun to and will continue to result in rising vacancy.
Since 2010 more than 4.8 million square feet of office space has been absorbed by local companies growing operations and expanding footprints. Office demand growth has favored downtown, but has not been limited to it.
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.
This document discusses changes in rental vacancy rates in gentrified areas of Washington D.C. from 2000 to 2010. It finds that the rental vacancy rate in D.C. decreased over this period, while rates in surrounding Northeastern areas increased. Specifically, most gentrified neighborhoods in D.C. saw reductions in their rental vacancy rates, indicating that gentrification may lower vacancies. However, some gentrifying neighborhoods like Edgewood had increasing vacancy rates since they were less developed than other gentrified areas.
JLL Grand Rapids Office Insight Q4 2015Aaron Moore
The repurposing of downtown Grand Rapids’ older office stock is continuing to gain momentum. There has been a diverse mix of new construction and redevelopments, which addressed the inventory shortage issue.
Office-occupying employment has grown for 26 consecutive months, comprising 36% of the region's non-farm payrolls. Absorption has been positive in five of the last six quarters and financial activities employment is up 11.3% since 2007. Healthcare was responsible for over half of leasing activity in the first quarter, led by Mercy's 390,000 square foot renewal. Expect future leasing to be driven by financial and business services which currently total almost 600,000 square feet of demand.
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.
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.
JLL Grand Rapids Office Insight & Statistics - Spring 2017Harrison West
Leasing velocity remains healthy, while rents are holding strong. The urban core is among the most active areas of the market, as newly renovated inventory will soon deliver at 50 Monroe and 250 Monroe.
The document discusses the emerging trends in geographic information systems (GIS) for real estate development. It notes that foreign investment in real estate has increased demand for land information but this information is dispersed across different government departments without standardization. GIS can help integrate this information on land ownership status, infrastructure access, zoning, and utilities. It also discusses how GIS needs are shifting from 2D parcel maps to 3D/4D models with accurate boundaries and property layers to better support complex urban planning activities. Regularly updating integrated regional/national maps will be important to facilitate real estate and land market activities globally.
Industrial market fundamentals continue to tighten in Cleveland amid robust demand growth. Concessions have all but dried up and landlords continue to push rents.
This document summarizes key information about Airbnb, including its founding in 2007, rapid growth and expansion of offerings, strong financial performance in recent years with $2.6B in revenue and $100M in profit in 2017 and $1B+ in quarterly revenue in 2018, plans for an IPO in 2019, and competition from other hotel and accommodation providers. It also provides details on Airbnb's business model, leadership team, and factors contributing to its success like a large network of unique private accommodations and community-focused platform.
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 document discusses cool things in the city from 2010. It focuses on interesting activities and attractions that were popular in the city over a decade ago. In 3 sentences or less, the summary highlights the key topic and time period covered while being concise and to the point.
Northern New Jersey’s Paterson Real Estate Market RisesJamie Simon
Jamie Simon-Wainick is a real estate professional committed to assisting New Jersey clients in the property acquisition and sale process. Knowledgeable about the community she serves, Jamie Simon-Wainick stays informed on real estate trends across northern New Jersey.
One community that has witnessed significant growth is Paterson, which traditionally had crime issues that hampered property investment. However, Zillow data indicates that two Paterson zip codes are among those that appreciated most rapidly from February 2020 to June 2021, with “07501” jumping 32 percent and “07522” rising 26 percent. A major contributor was demographic shifts related to the pandemic.
June 16th Presentation - Kansas City Urban Market Assetsnptech
The document discusses a DrillDown process conducted by the Social Compact nonprofit to more accurately estimate the population, income levels, and purchasing power in urban core areas. The DrillDown uses transactional data from various sources to provide a more detailed picture than Census data alone. It summarizes results from a DrillDown conducted in Kansas City, which found higher populations, incomes, and cash economies in the city and districts than Census estimates. The DrillDown aims to uncover hidden urban market assets to drive investment.
The document discusses a study called the DrillDown that was conducted in Kansas City to more accurately estimate the population, income levels, and purchasing power in urban core areas. The DrillDown uses transactional data from multiple sources to provide information on a more granular level than census data alone. Key findings from the Kansas City DrillDown include estimated populations that are 10-30% higher than census data in many districts, as well as average household incomes that are 13-20% higher when the informal "cash" economy is included. The results have helped attract over $1 billion in new investment to various cities.
Industrial Digitisation / Logistics: Company presentation by Zvi Schreiber, CEO of Freightos at the NOAH Conference 2019 in Tel Aviv, Hangar 11, 10-11 April 2019.
Vacancy at the top of the market is slowly moving upward, although levels remain below historic norms. New supply and givebacks upon relocation due to efficiency have begun to and will continue to result in rising vacancy.
Since 2010 more than 4.8 million square feet of office space has been absorbed by local companies growing operations and expanding footprints. Office demand growth has favored downtown, but has not been limited to it.
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.
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
Rents in urban areas like downtown Detroit are typically $4-6 per square foot higher than suburban rents, and can be up to $9-11 higher due to factors like city income taxes. However, companies seeking to attract skilled workers and be located in areas of economic activity are finding benefits to downtown locations. This shift has changed the traditional relationship between higher suburban and lower urban rents and occupancy rates.
Commercial Real Estate Market Overview August 2015_tcm78-50654Yirong Song
The document summarizes commercial real estate market trends from 1950-2015. It discusses the post-WWII shift from central business district (CBD) office space to suburban office space due to demographic and economic factors. Starting in the late 1990s and 2000s, CBD office demand increased as crime rates fell and millennials entered the workforce. While CBDs have generally outperformed suburbs, some technology and energy markets saw stronger suburban growth after 2008. Across property types, vacancy rates declined and prices rose from 2014-2015, though retail prices remain below 2007 levels. The industrial, apartment, and office sectors are expected to see declining vacancies and rent growth amid new supply.
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.
Investment activity returned to Louisville as two high-profile office assets traded hands to end the year, reaffirming investor confidence in the market. The downtown office market notched another significant win as Computershare announced a ten year, 1,100 job hiring increase that will result in an expansion of 100,000 square feet in Meidinger tower. As newly delivered Class A product is be absorbed within the market, Class B space continues to lag behind as asking rates are decreasing.
JLL’s Mid-Year Skyline Update: A Closer Look at OH, MI & PAJLL
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Q1 2015 U.S. office market statistics, trends and outlookJLL
Though vacancy remained unchanged at 15.6 percent in Q1, as the year continues we expect it to drop below 15 percent for the first time in a decade. Corporate growth is driving expansionary activity, and tenants are thus faced with increasingly challenging market conditions. Currently more than one-third of all markets are favorable to landlords, and that’s expected to increase to three-quarters. With this leverage, landlords will continue driving rents upward, potentially surpassing a 5.0-percent increase by year end.
Learn more and see market-by-market data at http://bit.ly/1Cfucrv
The Savills Studley report summarizes commercial real estate trends in the Los Angeles office market in Q4 2016. Key points include: leasing activity declined slightly from the previous quarter but exceeded 2015 levels; availability rates declined while asking rents remained flat; and office property sales sharply increased from the previous year. The recovery is showing signs of moderating heading into 2017 as leasing activity and hiring slow, though conditions remain tight on the Westside and opportunities exist elsewhere in the market.
U.S. Office market statistics, trends and outlook: Q2 2015 JLL
After a slow first quarter, office market fundamentals made a significant rebound at the close of Q2, undermining suggestions that both economic and office-market growth were slowing. As activity returns—and in many markets, intensifies—much needed supply will offer new opportunities to carry us into latter half of the decade.
Since the start of the year, rents have increased by 2.5%, with some in-demand markets increasing up to 5%. If market momentum continues as we anticipate, rents could reach a 5-7% annual growth rate by year end.
JLL Grand Rapids Office Insight - Fall 2016Aaron Moore
Companies rooted in the twenty first century - think technology and healthcare - understand the correlation between a rich cultural environment and attracting top notch talent.
Class A vacancy once again has dipped below that of Class B properties as a number of tenants opt for more modern and newer space, compelled by improving economic conditions.
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.
Similar to JLL Detroit Office Insight - Q2 2015 (20)
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.
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.
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.
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We are delighted to present our latest commercial project, "Unity One," developed by TR Constructions and marketed by Sunil Agrawal and Associates.
We are delighted to present our latest commercial project, "Unity One," developed by TR Constructions and marketed by Sunil Agrawal and Associates.
To provide an overview of the changes brought by the new Strata Management Regulations 2015 which will have impact on Property Management Practitioners
Explore Star Home Avenue: Luxury Living in the Heart of the CityDhivyabharathiDurai
Welcome to Star Home Avenue, where luxury living meets urban convenience in the heart of the city. Nestled amidst the vibrant pulse of [City/Area], Star Home Avenue offers an unparalleled residential experience designed for those who appreciate the finer things in life. With a commitment to quality craftsmanship and modern design, our homes provide the perfect blend of comfort, style, and functionality. Explore a community where every detail is crafted to exceed your expectations, from spacious interiors to thoughtful amenities. Embrace a lifestyle where luxury and convenience converge seamlessly at Star Home Avenue.
Indore is one of the fastest-growing cities in India, with a rapidly expanding economy and a booming real estate market.
Real estate investment can be a lucrative way to build wealth and generate passive income. However, it can also be intimidating for novices, especially in a city like Indore, which is rapidly growing and expanding. Here we'll discuss some real estate investment strategies for beginners in Indore.
Homes in Cumbria Presentation to assist youAskXX.com
Comprehensive Description of Homes in Cumbria Presentation
The "Homes in Cumbria" presentation provides an in-depth look at the real estate market in Cumbria, covering a wide range of topics relevant to prospective buyers and sellers. The presentation aims to explore various types of properties, property values, popular areas, and amenities, as well as offer guidance on selling properties and address frequently asked questions.
Welcome to Property in Cumbria
The introduction sets the stage by highlighting Cumbria's natural beauty and diverse property market. It outlines the main topics to be covered: property types, values, areas, amenities, FAQs, and tips for selling properties.
Presentation Overview
This section provides an overview of the entire presentation, detailing what the audience can expect. It introduces the types of properties available, property values in different areas, answers to common questions, and tips on selling property in Cumbria.
Property Types
Cumbria offers a wide range of property types, each catering to different preferences and lifestyles. This section dives into the specifics of each type:
Houses: Ranging from traditional cottages to modern mansions, houses in Cumbria come in various architectural styles including Tudor, Gothic, Victorian, and Arts and Crafts.
Flats: Ideal for those seeking low-maintenance living, flats range from compact studio flats to luxurious apartments with high-end amenities.
Bungalows: Single-story living spaces that are particularly suited for easy access and mobility, available in styles such as California, Craftsman, and English bungalows.
Farms: Offering a unique country living experience, farms in Cumbria range from smallholdings to large estates, with types including dairy farms, sheep farms, and crop farms.
Houses
This section provides a detailed look at the different types of houses in Cumbria:
Traditional Cottages: Often dating back to the 18th and 19th centuries, these homes feature stone or brick exteriors and thatched or slate roofs.
Modern Mansions: These houses boast large windows, open floor plans, and amenities like swimming pools and home theaters.
Architectural Designs: A variety of architectural styles are highlighted, each with unique features and characteristics.
Flats
Flats are a popular choice for those looking for convenience and low-maintenance living. This section covers:
Studio Flats: Compact and designed for simple living, ideal for young professionals and single individuals.
One-Bedroom Flats: Suitable for couples and small families, offering more space than studio flats.
Luxury Flats: High-end living spaces with premium amenities such as swimming pools, gyms, and concierge services.
Bungalows
Bungalows are explored in detail, highlighting their appeal for those seeking single-story living. Types of bungalows discussed include California bungalows, Craftsman bungalows, and English bungalows, each with distinctive design elements.
As the festive season approaches, there are several compelling reasons why this is the best time to consider buying property in Indore.
Indore, often called the "Mini Mumbai" of India, has witnessed remarkable growth in recent years, making it an attractive destination for property investment.
With its booming economy, well-planned infrastructure, and cultural diversity, Indore has become a hub for real estate development. As the festive season approaches, there are several compelling reasons why this is the best time to consider buying property in Indore.
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JLL Detroit Office Insight - Q2 2015
1. Office employment and vacancy move in opposite directions
Source: JLL Research
Availability in Detroit’s CBD continues decline
Source: JLL Research
Differential between urban and suburban asking rents
Source: JLL Research
Tenant demand continues to mount downtown
2,257
Office Insight
Detroit | Q2 2015
61,685,222
Total inventory (s.f.)
197,306
Q2 2015 net absorption (s.f.)
$18.17
Direct average asking rent
376,000
Total under construction (s.f.)
23.2%
Total vacancy
795,213
YTD net absorption (s.f.)
2.8%
12-month rent growth
93.8%
Total preleased
600
630
660
690
15.0%
20.0%
25.0%
30.0%
2010 2011 2012 2013 2014 2015 YTD
Office Employment (000s) Vacancy %
0.0%
10.0%
20.0%
30.0%
2010 2011 2012 2013 2014 2015 YTD
$17.00
$19.00
$21.00
$23.00
2010 2011 2012 2013 2014 2015 YTD
Urban Suburban
Job growth spurs office demand
Office-using employment sectors have experienced substantial employment
expansion over the last year, recording an annualized net gain of 14,500 jobs
across Metro Detroit. Appropriately, office vacancy has continued to decline
since hitting a record high of 29.2 percent in the first quarter of 2011. With an
improving economy and increasing space needs by office tenants, total vacancy
is expected to continue its downward trend through 2015. Albeit Detroit’s
improving economic condition, fundamentals are unlikely to justify any
speculative construction for the short-term. Consequently, demand growth will
continue to translate almost entirely into vacancy improvements.
Big firms trade the suburbs for the city
Detroit’s CBD is the circumstance of an underserved submarket with pent up
demand. Developers are racing to fill that void and attract tenants by renovating
and developing in CBD. The market is becoming increasingly bullish on
Downtown, with firms such as Ally Financial and Fifth Third signing long term
leases for 320,000 square feet and 62,000 square feet, respectively. Class A
availability in the CBD continues to decline from a recent high of 24.9 percent in
2010 to 9.6 percent at the end of Q2 2015. The CBD will continue to creep near
capacity in the near-term as demand growth outpaces supply additions.
Tenants will find shifting dynamics across the landscape
A range of determinants will come into play when large tenants consider urban
versus suburban leasing. When a tenant looks at the downtown market versus
the suburban market, the difference between asking rates is typically $4 to $6
per square foot and at times can reach a spread of $9 to $11 because of the city
income tax and other factors. However, companies seeking to lure a highly
skilled workforce and position themselves within a cluster of economic activity
are reaping the benefits of downtown. This shift has already upended some long-
standing dynamics of city versus suburban leasing prices and occupancy rates.
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