City skylines in the Great Lakes saw a lot of positive, dynamic activity in 2013. JLL highlights 5 hard hitting facts from the Cincinnati, Columbus, Cleveland, Detroit and Columbus skylines. For more information, please visit: http://www.joneslanglasalleblog.com/spaces/the-skys-the-limit-real-estate-report-examines-top-local-skylines/

1. COLUMBUS
DETROIT
CLEVELAND
CINCINNATI
PITTSBURGH
Great Lakes Skyline 2014
the 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.
REDEVELOPMENT STRATEGY
PUSHING CBD TOTAL VACANCY
down
to
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