Achieve Ambitions with the New JLL

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It’s been a hard secret to keep, but JLL has introduced a new brand position and look that tie together what we’ve always strived towards for our clients: our brand promise to “Achieve Ambitions.”

JLL Brand Poster Achieve AmbitionsEvery JLL journey starts with ambition – your unique idea, and our shared drive to make… Read More

1601 Market Street Philadelphia Exterior

Modern Meets Market @ 1601

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Everyone is talking about 1601 Market Street. With sleek glass, bright lights, and striking signage, the building’s design captivates you immediately. The boldest statements, however, are made on the inside with aesthetics, amenities, and award-winning features that are not just modern but quintessentially “Philly.”

1601 Market Philadelphia Lobby

Thanks in part to adoption of the Percent for… Read More

JLL Q4 2016 Stats for CBD and Suburbs

Rearranging in Q4: “Reverse Migrations” in the CBD and Tenant Shuffling in the Suburbs

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JLL Q4 2016 Stats for CBD and Suburbs

With a new year and a changing skyline, JLL has released Q4 2016 stats that are indicative of some interesting trends in the central business district and suburbs of Philadelphia.

CBD insights show that:   

  • Businesses’ “reverse migrations” eastward, such as Five Below’s relocation to 701 Market Street, speak to Market East’s
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Developers focus on Philadelphia’s prime locations

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The U.S. Industrial Outlook offers an in-depth analysis of property fundamentals, indicators and market drivers in the major industrial markets in the United States. The following briefs the latest developments in the Philadelphia market:

Speculative development is on the rise: Construction activity continues to be one of the prime drivers of the Philadelphia industrial market. Availabilities and vacancies are at all-time lows, encouraging speculative construction to address the needs of 30,898,500 square feet of active… Read More

The Sale of ShopRite Anchored Center in Glenolden

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Our Capital Markets Group is pleased to announce on behalf of MCB Real Estate and Alex Brown Realty that it has closed the investment sale of 140 N. MacDade Boulevard in Glenolden, Pennsylvania to Wharton Realty Group. The property, a 108,587 square foot grocery-anchored shopping center, features a newly renovated ShopRite and is at 100% occupancy.

JLL Influencers Recognized with Top Business Honors

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JLL team members Kim Meincke Jacobsen and Lauren Gilchrist have received acclaim from Lehigh Valley Business and Philadelphia Business Journal, respectively, for their professional and civic successes.

Kim Meincke Jacobsen, Managing Director, JLL

Kim Meincke Jacobsen, Managing Director, JLL

Jacobsen, Managing Director, was recognized as a 2016 Woman of Influence by… Read More

Categories: News and tagged , , , , .

The State of Our Market

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Urban Land Institute’s 2016 Emerging Trends in Real Estate Outlook recommends, “Look to key secondary markets.” And many are following this advice.

Statistics to consider:

  • Philadelphia notched $9 billion in office transaction volumes around the region in 2015, up 44 percent year-over-year.
  • Nearly 30 million square feet is currently under development across all asset classes.
  • More than 100,000 millennials have moved to the city since 2006, representing a 6.3 percent increase in share of population as of 2014.

Elements… Read More

An Update on JLL’s Construction Perspective

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Construction activity expected to grow in 2016, but the ascent will be slower.

2015 was a remarkable year for post-recession construction activity. The construction industry took one of the hardest-hits in 2009-2010, and has been slow to bounce back and rebuild their business activity – until 2015.

Highlights include:

  • Office space under construction peaked at 92.8 m.s.f.
    • Philadelphia was at 3.2 m.s.f. in Q4 2015
  • Construction costs increased in primary office markets, driven by skyrocketing labor costs that motivated
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JLL Lands Three Spots in the Mid Atlantic Real Estate Journal’s “Best of 2015”

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The Mid Atlantic Real Estate Journal’s “Best of” highlights the largest developments, major financial transactions, largest office, retail & industrial transactions, as well as the most unusual architectural and construction projects. In addition, the list features the owners, brokers, developers, architects who made it all happen.

JLL is proud to be recognized in the Mid Atlantic Real Estate Journal’s “Best of 2015” in three different categories:

 

TOP BROKERS

James Galbally and Douglas Rodio, Managing Directors, Capital Markets Group

Galbally… Read More

A Valuable Real Estate Partner in Philadelphia’s Booming Economy

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It’s an exciting time for Philadelphia, and no firm knows that better than us. 

“There’s a real buzz here,” says Mike McCurdy, managing director of the Philadelphia market. “Cranes are everywhere, and new retailers are coming in. Millennials through Baby Boomers are moving downtown, while key suburban markets remain strong. It’s the best economy I’ve seen in my 30-year real estate career here.”

Why here? Why now?

Philadelphia has historically maintained a fairly stable economy—never swinging too drastically… Read More