Monthly Archives: August 2015

Where Philadelphia ranks among the nation’s top life sciences clusters: Philadelphia Business Journal

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Philadelphia once again grabbed the seventh place ranking on JLL’s list of the top life sciences clusters in the United States.

Its annual life sciences cluster rankings take into account, in order of importance, a region’s percentage of employees in the life sciences, venture capital funding, National Institutes of Health funding, life sciences patents, percentage of… Read More

Flurry of industrial construction underway in summer 2015

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The growth of the industrial construction has been primarily fueled by a need to supply a strengthening Philadelphia economy. There are currently 39 active industrial construction projects in the Greater Philadelphia market, totally 16.4 million square feet. Southern New Jersey has been a large increase in construction, totally 5.4 million square feet underway and posting its highest construction levels on record.

Flurry of industrial construction underway inRead More

Categories: Industrial, News and tagged , .

Center City zoning and its relationship to land sales not straightforward

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Land sales are often evaluated horizontally, but square feet are not created equal when you factor in zoning rules. Market East parcels are commanding higher per-square-foot prices that Market West based on parcel size alone. When each site’s total developable square footage is calculated on a FAR basis, Market West wins out.

The inconsistency indicated that zoning does not drive pricing to the same extent as location and the site’s current context.

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Four key trends that have shifted the way in which life sciences firms conduct business

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JLL’s annual Life Sciences Outlook, released in July, tracks geographic shifts in life sciences innovation, operations and facilities investments, including analysis of countries and cities most actively investing in their life sciences sectors. It includes a ranking of the top U.S. life sciences clusters – in which Philadelphia ranks seventh. 

“In their U.S. operations, biopharmaceutical companies are being squeezed by rising costs for highly trained talent, more expensive real estate markets and… Read More

Office market on Market (east and west) doing well: Philadelphia Business Journal

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The 1.1 million square feet of downtown leasing activity JLL had been tracking between January and May showed 25 percent was driven by new demand from suburban firms and out of market tenants. About the same time last year, it was just 12 percent.

“Rent growth continues and the low vacancy story continues,” said Lauren Gilchrist, researcher at JLL. “The fact that we are seeing ground up construction and speculative development at… Read More