Tag Archives: insights

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,
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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… 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
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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… Read More