jll great lakes skyline 2014
TRANSCRIPT
COLUMBUS
DETROIT
CLEVELAND
CINCINNATI
PITTSBURGH
Great Lakes Skyline 2014the 5 hard hitting facts
IN COLUMBUS, QUALITY SPACE IS IN HIGH DEMAND
OF SPACE IS CURRENTLY UNDER CONSTRUCTION443,000SF
NEW SPECULATIVE CONSTRUCTION
which means more state-of-the-art space options in the near future.
SINCE ITS HIGH POINT IN Q4 2010. 11.5%
CINCINNATI OFFICE SPACE IS MORE ECONOMICAL TODAY THAN ALMOST A DECADE AGO
2014
PITTSBURGH IS RANKED AMONG
IS AMONG 6 MARKETS NATIONALLY THAT HAVE EXPERIENCED A RENT DECREASE SINCE 2005.
(Local market knowledge will be key to finding office space in the Pittsburgh CBD.)
(Consider Detroit’s CBD now as premium space; it may be limited within the next years.)
PREMIUM, CLASS A OFFICE SPACE IS NOW AVAILABLE IN THE CBD.
As a result
JLL experts observed this trend slowing down and even plateauing nationwide.
'(752,7·6¬����REDEVELOPMENT STRATEGY
PUSHING CBD TOTAL VACANCY
downto
leading to
DOWNTOWN OCCUPIERSCONVERTED SUBURBAN TENANTS
to
with single-digit direct vacancy rates.
11
4.5%
CLEVELAND WAS AMONG THE TOP 4 CITIES IN THE NATION TO EMPLOY RIGHTSIZING—IMPROVING WORKPLACE EFFICIENCIES AND CUTTING COSTS.
2005
and
CITIES IN THE U.S.
DIRECT VACANCY IS