Tag Archives: trends

Loft-Like Spaces, Multi-Purpose Game Rooms: The Rise in the Creative Office Space Market [REPORT]

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Millennials Drive Demand for Unique Amenities and Creative Office PropertiesGraham Building Philadelphia, PAAccording to the 2018 Philadelphia Creative Office Market Overview, the city shows a growing interest in creative office spaces.

Demand for more creative office spaces centers around a new generation of Millennial and Generation Z professionals: An influx of younger populations and flourishing tech sector competing for top talent are rejecting the traditional high-rises of their parents’ generation, opting for more unique and exciting workspaces.

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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

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
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Philly’s hotel boom: too much room at the inn?

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The recent hotel story in Center City Philadelphia is strong with average Saturday night occupancy at 88.2 percent and leisure room nights are up 273 percent since 1996. In June 2015 we saw a record-breaking occupancy across CBD. The seven hotel projects under construction will expand the CBD inventory by 1,800 rooms (about 16 percent) within the next 24 to 30 months. The performance of these deliveries will influence 1,500 additional… Read More

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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