Monday, December 28, 2015

JLL Reports Rising Rents and Industry Expansion Push Technology Firms To Key Growth Markets

Julia Georgules
PHOENIX, AZ,  Dec. 28, 2015 – According to JLL’s 2015 United States Technology Office Outlook, technology firms and startups aren’t just exploring new U.S. markets, they’re starting to plant roots.

Over the past year, 73 percent of the sector’s office leases represented occupancy growth. 

With Northern California holding nine of the top 15 most expensive in-demand technology submarkets—led by Downtown Palo Alto at $98.68 per square foot—tech firms are looking to other zip codes to fuel their future.

Expansion for the technology industry in 2015 is no longer just about the convenience of cheaper rents or accessing new talent pools. It’s a strategic necessity.

“Technology companies and startups need to look at a full range of options as part of their location strategy,” said Steffen Kammerer, leader of JLL’s Technology Practice group. “These companies have to grow.

“They can still hold a headquarters in the Bay Area, but their offices in secondary or tertiary markets can sometimes support larger staffs or hold just as much strategic importance to their business plans. We’re seeing this now more than ever.”

Fortunately, according to JLL’s report, the same economic forces that are pushing rents higher along familiar Northern California streets like Sand Hill Road and Hamilton Avenue—which at $141.60 and $124.44 per square foot respectably are the most expensive in the United States—are making it possible for the sector to spread the wealth into markets like Atlanta, Detroit, Orlando and Phoenix.

 In the past year, 34 technology companies expanded into new locations across 19 markets with more than 2.1 million square feet of office space.

Steffen Kammerer
“Other markets are not competing against Silicon Valley. They’re competing to be more like Silicon Valley,” said Julia Georgules, Director of U.S. Office Research for JLL. “Technology has become so pervasive in business that it’s now becoming a part of every industry and every market.

“This is generating a new momentum and energy in smaller markets and making them attractive to the type of talent that the technology industry is recruiting. It’s not necessary to be located in San Francisco or Silicon Valley anymore as a result, although you’ll still find great opportunity in those markets.”

Venture capitalists are even casting a wider net across the United States. Last year, 75.8 percent of unicorn companies were located in San Francisco and Silicon Valley; however, that number has shrunk to 59.2 percent with a remaining share in Utah, Oakland-East Bay, Boston, Washington, D.C. and Orange County.

 For a complete copy of the company’s news release, please contact:

Stacey Hershauer
Marketing & Public Relations
(480) 600-0195

John Crossman Among Prestigious Panel Invited to Seminole County Regional Chamber’s First 2016 Good Morning Seminole Event

Justin Sand
ORLANDO, FL --- John Crossman, president of Crossman & Company and widely regarded as an expert on retail trends, was invited to participate in Good Morning Seminole Jan. 7 at the Lake Mary Events Center, 260 N. Country Club Rd. 

Commercial Real Estate is the focus of the event and Crossman will be on the panel from 8 to 9 a.m. along with Justin Sand, president of Epoch Residential, Craig Ustler, founder of Ustler Development and others to be determined. 
The panel will educate between 100 and 150 attendees on the outlook for Seminole County commercial real estate developments in the near future.   Crossman will share his perspective on shopping centers in the market.

Florida Blue is a major sponsor of the event which is free to chamber members and $10 for non-members.  

 For a complete copy of the company’s news release, please contact:

Beth Payan, Larry Vershel Communications, 407-644-4142

The Altman Companies Hires Robbie Thapa as Director of Marketing

Robbie Thapa
 BOCA RATON, FL, Dec. 28, 2015 – The Altman Companies, a nationally recognized developer of luxury apartment communities, hires Robbie Thapa as director of marketing.

 He is responsible for all marketing initiatives and corporate branding efforts for The Altman Companies, both in digital and print platforms.

  Additionally, he leads the implementation of strategic marketing planning for all new lease-ups, and oversees lead management and trend analysis for the entire Altman portfolio. He will be based in Altman’s Boca Raton headquarters.

Prior to joining The Altman Companies, Thapa was with Trade Street Residential, a public REIT that has closed on more than $2 billion in multifamily residential communities and developments. 

He directed all marketing activities for 19 properties throughout the Southeast. Thapa began his career in multifamily as an interior design manager for a leading property management company in Chicago.

“Robbie will play an integral role in our company’s branding,” said Joel Altman, chairman of The Altman Companies. “His marketing expertise and sensitivity to excellent design will be valuable to us and we’re excited to have him on our team."

For a complete copy of the company’s news release, please contact:

Ashley Fierman,

(954) 370-8999

Mortgage Bankers Association Reports Commercial and Multifamily Mortgage Debt Continues Rise Led By Commercial Banks in Third Quarter

Jamie Woodwell
WASHINGTON, DC -- The level of commercial and multifamily mortgage debt outstanding increased by $38 billion in the third quarter of 2015, as three of the four major investor groups increased their holdings.  That is a 1.4 percent increase over the second quarter of 2015.  

Total commercial/multifamily debt outstanding stood at $2.76 trillion at the end of the third quarter.  Multifamily mortgage debt outstanding rose to $1.02 trillion, an increase of $19.3 billion, or 1.9 percent, from the second quarter.

“Commercial and multifamily mortgage debt outstanding continued to climb in the third quarter, driven by increases in the dollar amount of loans held in bank portfolios,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. 

“Banks accounted for 85 percent of the total increase, adding $32 billion to their holdings of commercial real estate loans, the largest amount since the series began in 2007.”

 For a complete copy of the company’s news release, please contact:

Ali Ahmad

(202) 557-2727