Tag Archives: CBD

Tenant migration is helping to chip away at Downtown CBD vacancy

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Downtown vacancy has decreased to 16.6 percent from 19.1 percent since 2013, driven by robust tenant migration, countervailing light demand from existing legal and financial services tenants, which continue to seek efficiency and have been cautious to take on additional space.

Downtown’s expanding residential, retail and entertainment base has helped attract companies from outside the CBD, including creative tenants.

Tenant migration will drive Downtown’s evolution by broadening the tenant base across sectors and… Read More

Where can LA law firms do more with less?

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Eastward expansion continues, for Los Angeles law firms that is. In the first installment of our series on law firm real estate trends, we learned what’s making downtown LA one of the most interesting office markets in the region. Now, Darren Eades, Executive Vice President in JLL’s LA office, reflects on why Westside firms are increasingly setting their sights East.

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Downtown law firms: Plan real estate now, thrive later

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Diminishing occupancy. Bold new use of space. Landlords with a habit of raising rents. LA’s central business district is on pace to become one of the most interesting arenas of all SoCal commercial real estate markets. And that, explains Tom McDonald, JLL’s Executive Vice President, spells opportunity for law firm tenants looking to optimize their real estate strategy.

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JLL’s Mike McKeever featured in LABJ’s article on DTLA’s PacMutual building

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2013-McKeever-MikeThe Los Angeles Business Journal featured JLL LA‘s Mike McKeever in their article ‘PacMutual Draws Startup With Different Brief‘.

Mike McKeever, Senior Vice President, was featured sharing his thoughts on PacMutual’s repositioning to creative office tenants.

Mike McKeever, a senior vice president at the downtown office of Jones Lang LaSalle, represented Hueston Hennigan in the deal. He said creative office space is in short supply downtown, especially

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Union Bank Plaza, unique Grade A office opportunity in Los Angeles

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JLL’s Los Angeles team is pleased to bring Union Bank Plaza in Los Angeles to market for KBS Realty Advisors. For more information, please visit the website: www.unionbankplaza2014.com

2014-09-The-Investor-Union-Bank-Plaza-Grade-A-office

Investment highlights:

  • Prime location in the heart of the Downtown Los Angeles CBD
  • Class A, 40-storey trophy quality 646,625 sq ft office tower with a two
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2014 North American banking and finance outlook

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2014-Research-Report-US-Banking-and-Finance-OutlookBanks use consolidation strategies and new markets to get ahead

JLL’s second annual Banking and Finance Outlook is an in-depth look at the leading trends impacting the banking and financial services industry and their implications for the real estate market.

This report includes our view on how this industry is utilizing office space… Read More

Winds of change gusting through the US law firm office landscape

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2013-Research-Law-Firm-Perspective-USPositive economic headwinds have picked up force across the U.S., fueling increased optimism for 2014 and 2015. However, for the domestic legal sector, the outlook for most firms remains muted, driven by fairly stagnant conditions across most practice areas, which, when combined with fee compression, creates a slow-growth environment.

Mid-sized and large… Read More

Los Angeles CBD Class A inventory impacted by sale of US Bank Tower

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2013-Morales-Tony-Commercial-Property-ExecutiveCommercial Property Executive met with JLL’s Managing Director Tony Morales to discuss the sale of the US Bank Tower in downtown Los Angeles. Overseas Union Enterprise Ltd. U.S. subsidiary Beringia Central L.L.C. purchased the 72-story, 1.4-million s.f. Class A office property for $367.5 million. The transaction also included the Maguire… Read More