Since 2008, downtown Chicago has attracted 88 suburban and 13 out-of-market companies, of which 32 have been headquarters relocations. If your company is thinking of making the move or you’re just curious about new neighborhoods, take this headquarters quiz and land on the best submarket for your team!
Welcome to Episode 7 of JLL Chicago Industrial – Real Time, our Industrial Research podcast. In this episode, Part 2 of a special crossover with our sister retail podcast, Where We Buy:
- Why grocery shopping online is more popular in China
- Startups are sending furniture and mattresses online, to the delight of the logistics industry
- When brick and mortar locations become key to a retailer’s omni-channel marketing strategy
Listen to this podcast with the player above or click here.
Listen to Part 1 of our special crossover podcast on Where We Buy, here.
While corporate real estate strategies are definitely one-size-fits-one, headquarters relocations seem spurred by surprisingly similar reasons. We wouldn’t call this kind of groupthink a bad thing, rather a natural reaction to a global demographic shift. You can’t ignore more than one million people moving into cities every week.
We analyzed the corporate press releas es associated with Chicago’s 32 headquarters relocations since 2008, paying close attention to quotes from each CEO. These leaders have waxed philosophic, strategic, straight up practical and everything in between in their commentary, offering a glimpse into larger pushes for organizational change and innovation.
Our word cloud above sizes words based on how frequently they’ve been used by CEOs. Roll your mouse over each word to see a sample quote and we’ll dig into the top reasons for moving below.… Read More
“A person should not believe in an -ism, he should believe in himself.” –Ferris Bueller
Generation X grew up unsupervised, independent and decidedly anti-establishment. This small, often overlooked cohort entered the corporate world with little fanfare but a wildly different attitude, shirking preconceived notions of work and traditional business dogmas.
Bringing an entrepreneurial mindset to Corporate America has been a major Gen X contribution, bolstered by fluency in technology, prioritization of work/life balance and a fierce pursuit of individuality. Now entering the leadership roles of the C-suite, this generation is the innovative force behind today’s workplace trends—especially their companies’ defining headquarters moves.… Read More
Looking to snag a computer programmer on sale? Chicago should be your startup’s tried and true market of choice, given its status as the rare, affordable, large urban market.
“Competition for tech talent, as well as good plug-and-play tech spaces, is fierce,” said Jesse Van Dyke, Managing Director and co-lead of JLL Chicago’s Technology Practice Group.
The market’s tech ecosystem can be the best indicator of potential job growth and industry stability. Consider planting your tech flag in Chicago, a great location at a great price:… Read More
Welcome to Episode 5 of JLL Chicago Industrial – Real Time, our Industrial Research podcast. In this episode:
- What retailers want out of their e-commerce distribution network
- The landlord perspective: The prevalence of build-to-suits to accommodate these facilities’ highly specialized technology and workforce amenity requirements
- A deep dive into surrounding demographics to enhance retailers’ site selection process
Listen to this 14-minute podcast with the player above or CLICK HERE.
“Whoever said money can’t buy happiness simply didn’t know where to go shopping.” –Bo Derek
Whoever said that simply didn’t know about prime urban corridors. These nationally recognized shopping districts, both existing and emerging, are propelling brick and mortar retail into the 21st century, featuring high-tech homages to the brands we love and those we’re just getting to know.
Chicago’s top 5 retail corridors cater to a broad audience of tourists and locals, some placing a premium on luxury while others prioritize value and convenience. Just in time for ICSC RECon, we chatted with top JLL Chicago Retail brokers about each corridor’s inner workings.… Read More
In the wake of this month’s global cyberattack, perpetrated by ransomeware called WannaCry, companies around the world are strengthening their efforts to secure their data and avert costly breaches.
A growing wave of malicious attacks have cost major retailers, banks, insurance companies and more billions of dollars in lost business, stock value, legal settlements, data recovery and security costs. Hackers continue to find new and unexpected virtual “back doors” to enter, and one of the latest concerns is commercial real estate.
“Hackers have and will infiltrate building systems, from the lighting to the HVAC to modems and routers,” said JLL Managing Director Steve Pollard, leader of the Multi-site Project and Development Services team. “Fortifying these systems needs to be a top priority for commercial real estate executives and IT professionals.”… Read More
Welcome to Episode 4 of JLL Chicago Industrial – Real Time, our Industrial Research podcast hosted by George Cutro and Chad Buch. In this “live” episode, the team is on the scene at JLL Chicago Industrial‘s client event, “The Changing Landscape of Chicago Industrial Real Estate.” They sat down with JLL’s Trevor Ragsdale, Kris Bjorson, John Picchiotti, Ben Bischmann and Debra Bonebrake for candid conversations on top trends, market outlooks and the latest JLL Industrial news.
Listen to the podcast with the player above or CLICK HERE.
The theme of this “Pardon the Interruption”-style panel, inspired by the famous show, was the future. On the heels of 23 consecutive quarters of positive net absorption, the Chicago industrial market is thriving and evolving. Some top takeaways:… Read More
Welcome to Episode 3 of JLL Chicago Industrial – Real Time, our Industrial Research podcast hosted by George Cutro and Chad Buch. In this episode, the team interviews Rick Steger, JLL Managing Director and national Industrial Project Management lead, about his construction outlook. Spoiler alert, the pipeline is strong and manufacturing is making a comeback. Listen to the end to hear our hosts’ hard-hitting “speed round” and a preview of this week’s client event.
Welcome to JLL Chicago Industrial – Real Time, our new Industrial Research podcast hosted by George Cutro and Chad Buch. In our first episode, the team discusses cold storage, the Chiquita Banana deal and dark horse submarkets for 2017. Enjoy and stay tuned for regular market trends, hot topics, deal coverage and more!
JLL was on the scene last week for the grand opening of mHUB and as you can see, sparks were flying. Chicago’s first innovation center for physical product development and manufacturing, mHUB is a collaboration among Chicago’s leaders in business, innovation and research.
“Developing and manufacturing physical products is a capital intensive process and involves a steep learning curve,” said Haven Allen, mHUB co-founder and executive director. “Our industry partners will help fund crucial physical assets for mHUB that our early-stage innovators need to improve their odds of getting to market faster.”
Take a look at mHUB’s story below, where our Tenant Representation and Project and Development Services teams partnered to deliver manufacturing’s future:… Read More
Hundreds of industry leaders joined JLL Chicago last week to discuss Chicago 2025 and the city’s dynamic expansion. With 4,300 new hotel rooms planned, the lowest office vacancy in 16 years (10 percent), 4 million square feet of speculative industrial construction in the pipeline and 3 million square feet of office space headed to market, the next decade is going to be one for the books.
JLL Chief Economist Ryan Severino kicked things off with a broad-based market outlook, factoring in challenges of the past year from Brexit to an unexpected election result. Despite entering a 2017 filled with elevated policy uncertainty, the Chicago market’s universal truths are bolstering its investment appeal. Chicago’s still the third-largest metro economy in the U.S., with above average annual gross metro product growth and a diverse economy where no single industry comprises more than 20 percent of total employment. Going forward, our unusually high percentage of adults with undergraduate or graduate degrees will be of paramount importance in building on this economic momentum.
We’re definitely living in interesting times, agreed JLL International Director and panel moderator Bruce Miller. … Read More
This week JLL Chicago will convene commercial real estate investors, clients and leading experts from throughout the city for Chicago 2025, our annual forecast. We sat down with JLL pros across asset classes ahead of the event for a preview of their sector-specific outlooks.
With David Letterman off the air, JLL Chicago Research is here to fill your Top Ten void. Consider this your crash course for 2016, a year-in-review of Chicago’s best moments, focused on commercial real estate, workplace, market trends and pop culture.
A center of industry innovation with a high concentration of companies, ideas and talent, Chicago is a tech hub that will maintain its resilience and employment growth through the next cycle and beyond.
That’s because it’s not just startups after the 25-year-old whiz software developer. Big enterprise users from the Fortune 500 on down are challenging tech, both name-brand and early-stage, to attract millennial brainpower. Take IMC, a fast-growing trading firm JLL Managing Director Matt Carolan and Senior Vice President Phil Geiger expanded to 78,000 square feet in Willis Tower earlier this year.
“IMC is battling it out with the Googles, Facebooks and LinkedIns of the world for top tech talent,” Phil said. “Like companies across the spectrum, they secured market-leading space as a big component of their recruitment strategy.”… Read More
Just call Sam Kennedy the startup whisperer. He spent four years in a dual role at the venture firm Guild Capital and running a national tech conference, Techweek. Working with early-stage tech companies from around the world in both gigs helped him recognize patterns and apply them to help run their businesses more efficiently.
After connecting with JLL brokers at tech events around the city, Sam joined the team as Vice President and Tech Practice Group Lead to elevate the way JLL interfaces with startups in the Chicago market and beyond. “At a time when I was thinking about how I might harness my network to try something new, JLL gave me the best of both worlds. The support of a Fortune 500 real estate company with the opportunity to start an entrepreneurial project,” Sam says. Let’s learn more.
Typical day: I’m always on my feet, getting to know landlords and leasing agents around the city and catching up with entrepreneurs and tech startups. It’s my job to inform JLL’s service lines on which companies are growing. It’s about changing our internal framework and modernizing the way JLL pursues the new generation of companies out there. While that might mean less cold calling, the business is still very relationship-based with authentic connections being made online and in-person. Data is also more widely available than ever, which makes us differentiate by thinking through the personality of a company and how they can interpret existing data to make strategic decisions.… Read More
One of the Chicago tech scene’s biggest challenges has been competing with the coastal cities for venture capital funding. Local Investors place a stronger emphasis on business fundamentals and startups have to stretch their resources to thrive.
The increasing office rents in tech-favorable submarkets driven by the industry’s appetite for creative office space mean tech firms in Chicago must be more efficient with the investment capital. Here’s why coworking could be the answer.
Welcome to the sharing economy
The notion of sharing is catching on globally. From sharing major life snapshots on Instagram to daily updates on Twitter, sharing was bound to infiltrate the workplace. Across several sectors, the sharing economy is transforming how people view the ownership and leasing of spaces and services.… Read More
A new workplace paradigm emerged over the past 10 years, shifting focus to design elements such as open plan layouts, space density and construction. Subsequently another workplace component, technology, has evolved from a behind-the-scenes role to a crucial element of the business, its operations and its office space.
For companies to maximize the productivity of their employees and their space, they need to understand the required components of a fully integrated technology enabled workplace. We’ve outlined the five key components in the presentation below:
“The core of downtown Chicago is competing with global cities and we are a low cost leader,” says JLL Managing Director Keith Largay. At Bisnow’s recent State of the Market event, he outlined four investment trends that have investors feeling cautiously optimistic about the city’s future:… Read More