Monthly Archives: June 2013

Relocating Can Be More Expensive Than You Think

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By Brian Buschuk
Jones Lang LaSalle

Many tenants look at relocating as a way to cut costs once their lease is set to expire. At the end of the day, though, it could cost them more than renewing — even with a small rent increase.

Individually, the expenses are not huge, but they can add up… Read More

What Does It Mean If My Building is Being Run by a “Receiver”?

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By Adam Broderick
Vice President
Jones Lang LaSalle

Currently in Indianapolis, there are several quality office buildings that have been taken over by a lender due to a default on the part of the deeded owner.

When this happens, there are four primary remedies available to the lender:

  • Deed in lieu,
  • Foreclosure,
  • Workout, and
  • Receivership.

In many cases, lenders choose to… Read More

A Quick Look at the U.S. Office Market

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By Gregory Green
President, Agency Leasing (U.S.)
Jones Lang LaSalle

Hot Markets for Leasing:
The hottest office markets in the U.S., from a leasing perspective, are currently the technology markets (Silicon Valley, San Francisco, Seattle, and Midtown South in Manhattan) and the energy markets (Houston, Denver). Due to the positive net absorption in these markets… Read More

JLL Hired to Lease 220 N. Meridian Office Tower

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As was reported recently in The Star, our JLL team of John Robinson, Adam Broderick and Kevin Gillihan has been hired as the exclusive leasing agents for the 20-story office tower at 220 N. Meridian in downtown Indy.

The 558,000-SF building was sold to Akron, Ohio-based Geis Properties by longtime owner AT&T earlier this year. AT&T continues to occupy the majority of space in… Read More

Rumor Mill: Engine Maker Eyeing New Office Complex in Downtown Indy

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Both The Star and the IBJ reported this week that the Columbus, Ohio-based engine maker Cummins, Inc., is quietly scouting sites in Indianapolis for a potential build-to-suit office development that would house the 70+ employees currently housed at OneAmerica Tower and Capital Center as well as additional new hires.

JLL’s own John Robinson told… Read More

Spec is Back in Indy

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For the first time since before the Great Recession, speculative office development is back in Indy.

A three-story, 81,000-SF building is now being marketed for lease on Indianapolis’s Northside, where virtually all of the 700,000 SF of positive net absorption in the metro area occurred last.

JLL’s John Robinson helps explain the developer’s rationale in this week’s Indianapolis Business Journal:

“With no new construction, it doesn’t take an economics major to figure out supply

Read More

CHART OF THE WEEK: Jobs Drawing Indianapolis Workers Downtown and the Westside

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  • As the industrial distribution of hub of Indianapolis, the workday population in Plainfield, near the international airport, surges by 24 percent.
  • Downtown Indianapolis operates as the center of the office market which sees its daytime population increase to 949,000 people as workers in the business and professional services, technology and government commute in from the south and northeast.
  • Cities like Noblesville, Fishers and Greenwood see drops in population during the day. However, I-65
  • Read More

DialAmerica Turns to JLL to Help Open New Indy Call Center

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Our JLL Indy team recently helped DialAmerica open a new call center operation on the city’s Northwest Side that will eventually create some 170 new jobs here locally.

Denice Michel and Kevin Gillihan helped the company determine the ideal location for the facilty based on demographics and labor data analysis before ultimately… Read More

The Science Behind an Office Relocation

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By Graham Summers
Tenant Representation
Jones Lang LaSalle

Tenants move for different reasons, but it’s quite a task for most.  As a result, the reasons are typically warranted.  Here’s why (usually):

  • PRICE, it’s always a consideration, and sometimes there’s just a better deal next door
  • Building ownership: buildings are constantly flipping to new ownership groups, and
  • Read More