Tag Archives: suburbs

Retail therapy draws tenants to suburban Class A product

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Shopping on your lunch hour never gets old. Especially in the suburbs, where the live/work/play perks of urban density are in short supply. Suburban malls offer the opportunity to run errands during lunch, while also conveniently supporting a wide array of business amenities such as restaurants and event space for everyday meetings and larger corporate gatherings.

Across suburban Chicago, Class A office properties within a mile of a major mall are outperforming their competition in three out of four major suburban submarkets. While the area around Woodfield Mall appears to be flagging, JLL Research attributes that to Zurich’s relocation and expects occupancy to soon mirror the strength of its peers.

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Top 10: Trump’s unexpected impact on suburban Chicago real estate

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TrumpOur Suburban Tenant Representation team recently hosted a webinar exploring how President Trump’s policy changes could impact suburban Chicago real estate.

“With vacancy near 10-year lows, strong tenant demand and robust investment activity, the suburbs continue to be a value story with as much as a $20 per square foot rent differential compared with downtown,” said JLL International Director Andrea Van Gelder.

As the new administration takes shape, the suburban market and its well-balanced economy could be affected in good, bad and surprising ways.… Read More

Getting to know John Brogan

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John Brogan began his real estate career at a young age. At 10, he was helping his mom invest in and flip residential properties, and by 16 they had amassed an 11-property portfolio around his hometown of Nashville, Indiana. “We moved a lot, but I became well-versed in finance and rent collection. I also had a lucrative lawn-mowing gig,” John jokes.

After four years in the military post-college developing his leadership and problem-solving skills, John came back to his childhood business and began to think bigger. The world of commercial real estate beckoned and he joined JLL Chicago’s Suburban Tenant Representation team as an Associate in June. We decided to get to know him a little better in the first installment of our new profile series.

John Brogan Motorcycle

My first motorcycle – a gift to myself after my deployment.

My typical day: My No. 1 job is business development for my teammates and mentors, Eric Kunkel and Scott Ohlander. I’m the boots on the ground in the suburban market, connecting prospects to our team’s combined 41 years of industry experience. In addition to business development, my focus includes client relationship management and lease consulting and negotiation for office tenants.

Hometown: Nashville, Indiana. It’s a 1,000-person town founded in the early 1800s as an artist colony. A little-known tourist destination in the hills of Indiana.… Read More

Our Economy: The Suburban Story

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JLL’s Northwest Market suburban team: Gregg Raus, Mark Kolar and Adam Pines

While today’s sensationalized headlines have led to some natural jitters across the suburban office landscape, a deeper dive into the numbers reveals a market on the rise and experiencing significant economic growth. More than 50 suburban business leaders joined JLL, the Schaumburg Business Association and the Federal Reserve Bank of Chicago, along with additional sponsors MECU and Rabine Group, last week to discuss the impact of global economic conditions on Schaumburg and the surrounding suburban submarkets.… Read More

Oh beautiful, for spacious offices: Expanding leases speak to market strength

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Here’s some exciting office market news before your July 4th long weekend. Both the Chicago CBD and suburbs finished Q2 with a flurry of deals. In fact, since Q3 2014, more than 60 percent of 20,000-plus square-foot leases in both submarkets have been expansions.
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Sizzle or Fizzle? North-suburban office market ends 2013 with mixed signals

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NorthSuburbanQ1Snapshot

By Dan McCarthy and Henry Lee
Jones Lang LaSalle

As was detailed in this recent article by Crain’s Chicago Business, the North submarket had a mixed fourth quarter with some positive and negative gains.

On the positive side, the largest lease transaction of the year was signed when our client Zebra Technologies agreed to a 230,000-SF lease at 3 Overlook Point… Read More

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: