JLL’s Annual Report Shows Opportunities Arise in Louisville’s Skyline
JLL Louisville’s 2018 skyline report shows opportunities are arising in the city’s skyline
LOUISVILLE, Sept. 6, 2018 – Like in previous years, Louisville’s annual Skyline Review examines the dynamics of the Downtown Louisville office market and address the top trends impacting both tenants and investors. This report [VB1] also identifies the pricing and availability of space in Downtown Louisville’s largest multi- tenant office buildings.
This report shows that the uncertainty around 500 W. Jefferson continues to cast a shadow over downtown Louisville as current tenants of the building are stepping up efforts to reevaluate their options. Further more, 500 W. Jefferson has the highest vacancy rate at over 44.5 percent. Remove this building from the Skyline and the overall CBD vacancy rate decreases by more than 3 percent.
Currently, large blocks of downtown space remain unfilled following corporate consolidations by Humana and PNC in 2017.
As for amenities, the availability of in-building amenities continues to be a differentiator for companies looking around downtown. Several buildings, including 400 W. Market, have undergone substantial updating. Tenants’ space preferences are tending toward blocks located on higher floors, which traditionally have slightly higher rents, but provide better views for employees.
For more information, please visit www.us.jll.com/en/locations/midwest
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com