Yearly Archives: 2013

Flight to quality drives suburban office leasing activity

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3OverlookPoint

Despite the much-publicized trend of office tenants leaving the suburbs for downtown, the suburban office market saw no shortage of big deals in 2013, with companies taking advantage of favorable conditions to trade up to better space.

Two major deals recently completed by the Jones Lang LaSalle tenant representation team illustrate this dynamic at work:

Is it time to take off the training wheels?

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GarageStartup

The following post first appeared on the Built In Chicago Blog.

By Brooke Houghton
Statrt-up Real Estate Advisor

Jones Lang LaSalle

Starting your company in a garage is legendary in the tech world. What’s not legendary, or often talked about, is the downside of working from home — be it from your garage, home office or even the… Read More

VIDEO: Chicago industrial market shows signs of continued recovery in Q3

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The Chicago industrial market showed signs of continued recovery in Q3 with more than 3.4 million square feet of total net absorption in July, August and September.

Watch the 90-second video above for a quick update on what’s been happening in the marketplace and click on the links below for additional recent reports:

  • Q3 2013 industrial activity in the U.S. and individual metro areas
  • Big Box Outlook – Fall 2013
  • Industrial research home page
Read More

Why Fulton Market / River West?

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Fulton Market District

NOTE: The following post originally appeared on the Catapult Chicago Blog.

By Corey Siegrist
Vice President, Tenant Representation
Jones Lang LaSalle

From dozens of new restaurants to Sterling Bay’s purchase of 10+ buildings, the Fulton Market/River West area is quickly becoming one of the most sought-after neighborhoods for tech and emerging growth… Read More

WSJ: Companies doing more with less office space

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OfficeBlueprint

It’s no secret: offices are getting smaller. In fact, one recent study found that the average square-footage-per-employee shrunk by 30% between 1995 and 2013.

The good news for office dwellers is that architects and designers are responding to the trend with increasingly creative floorplans, furniture installations and technologies.

The Wall Street Journal, on Wednesday, took a look at how some of… Read More

Another suburban-based company looking to set up Downtown Chicago outpost

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PioneerCourt

Companies like United Airlines, Morotola Mobility and BP  have garnered no shortage of publicity in recent years with their decisions to decamp the suburbs in favor of new digs in downtown Chicago.

But another trend — suburban companies keeping the majority of their employees in the ‘burbs and opening small outposts downtown — has been far more… Read More

Downtown Chicago office market holds steady in Q3

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KeyMarketIndicatorsCBDQ313

The Downtown Chicago Office Market held steady during the third quarter as gains realized from new tenants entering the market and the growth of existing companies were offset by an overall move toward more efficent office designs.

This according to the latest Jones Lang LaSalle Chicago Office Insight report, which was released earlier this week.

Here are… Read More

CHART OF THE WEEK: Who owns Chicago’s skyscrapers?

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COWTopChicagoOwners

  • Together, the five largest owners of Chicago’s downtown buildings own 27.8 million square feet which is 20.3 percent of the total inventory. Tishman Speyer’s ownership of 11.5 million square feet in 11 downtown properties makes it the largest owner by far.
  • Two of the largest owners – Vornado and The Moinian Group – are
  • Read More

New York Times: Corporate America embraces ‘start-up chic’ in new office spaces

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ModernOffice

The couches, open-layouts and loft-inspired stylings that have become ubiquitous at start-up tech companies and creative agencies are slowly but surely making their way into corporate America as well.

According to a New York Times story from earlier this week, companies including Deloitte and the biotech company Biogen Idec are among those eschewing private offices and high-walled… Read More

Suburban office market takes a small step toward recovery

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CrainsSuburbanOfficeChart10-13Tenants looking for office space in the Chicago suburbs still have a decided upper hand, but the suburban office market did take a small step toward recovery during the third quarter according to new statistics from Jones Lang LaSalle that were featured in Crain’s Chicago Business earlier this week.

The overall vacancy rate in the ‘burbs fell to… Read More

Business lessons from ‘Breaking Bad’

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Breaking bad

Breaking Bad, the popular cable TV drama that celebrated its series finale this past Sunday, has been lauded by fans and critics alike as one of the best shows in history since it first debuted back in 2008. The series has won 10 Primetime Emmy Awards including three consecutive Best Actor wins for Bryan Cranston and a (long-overdue) victory this year in the Outstanding Drama Series… Read More

Categories: Jones Lang LaSalle.

Investors showing appetite for suburban Chicago assets

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Sequoia

As commercial properties continue to trade hands at a frantic pace in core coastal cities and other top U.S. markets like Chicago, investors — for the first time in years — are beginning to focus more and more attention on secondary and tertiary markets … including the oft-maligned Chicago suburbs.

Hoping to capitalize on that renewed interest, the owners of a 116,000-SF office building in west-suburban… Read More

Windy City Retail Recap

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It’s ICSC time again in the Windy City as the annual Chicago Deal Making returns to Navy Pier today and tomorrow.

In the video above, JLL’s Retail experts — including Larry Kilduff, Jason Trombley, Claire Bitautas, Adam Cody and Becky Wells — explore the different drivers impacting the resurgence of retail in Chicago and the Midwest including investment, retailer expansions and development.

For more information visit the team at booth #119 at the conference.

Read More

Find out how JLL helped Procter & Gamble cut its energy costs by 10%

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P&GHQ

One of America’s biggest companies is saving big bucks thanks to new smart-building technology implemented at its facilities by Jones Lang LaSalle.

According to this article in the Cincinnati Business Courier, Procter & Gamble (No. 28 on this year’s Forture 500 list) was able to slash energy costs by 10 percent as part of… Read More