Tag Archives: Construction

Philadelphia New Construction is the Northeast’s Biggest Bargain, but Availability May Be Destined to Dwindle

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Philadelphia new construction

Across the country, tenants expect – and are often willing – to pay a premium for new construction. The rent gap between existing buildings and new deliveries, however, can vary widely from place to place with certain markets standing out as more affordable than their neighbors. In the Northeast, JLL has… 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
  • Read More

“Uber just opened a big ol’ corporate-looking office in Southwest Philly”… and we built it out

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“We were proud to build out your new Philly space #Uber!” – JLL PDS & Construction, Jim McGrath, Phil Tortorelli & Pat Wahl

Uber offices in S. Philadelphia

According to Technical.ly Philly, the ridesharing company has set down roots deep in Southwest Philly, just north of the airport, and… Read More