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Project Sales and Leasing

JLL optimizes your assets and delivers the highest returns

JLL’s sales and leasing agents are known for being the most creative and knowledgeable in the industry, having represented landlords and their landmark properties in more than 1,000 markets in 80 countries. We’ll help you meet your financial goals by taking a proactive approach to positioning your property, securing tenants or buyers and maximizing the return.

We have access to a worldwide network of colleagues who are specialists in every aspect of commercial real estate. To address rapidly changing demand for office, industrial, retail and residential space, we arm ourselves with research, local market data and trend information. When we represent your property, we’ll develop a marketing strategy that leverages multiple channels, new technologies and proven best practices to attract high-quality tenants or buyers.

Project Leasing

Earning successful returns on leased property means more than filling space. It begins with a firm grasp of what kind of space the most desirable tenants want and what they will pay for it. JLL project leasing team can execute a project leasing strategy for you that will entice the best tenants at the best lease terms and ensure you retain them for lasting value.

Project Sales​

Given the opportunity to represent your property, JLL project sales team will connect with local analysts and other brokers in the marketplace to develop a marketing plan that leverages multiple platforms, appropriate technologies and best practices to drive buyer interest. We help our landlord clients develop most accurate property positioning and customized comprehensive marketing strategy to ensure most suitable buyers and maximization of returns in the sales cycle.


To know more about JLL China Project Sales and Leasing capability, please submit your inquiry via “Contact us” at the right navigation.


News and research

 

 

Built to last: wholly owned office buildings outperform/china/en-gb/news/special/6/beijing-office-wholly-owned-enBuilt to last: wholly owned office buildings outperform<p><strong>​​</strong><span style="line-height:1.6;"><strong>B</strong></span><span style="line-height:1.6;"><strong>y Mi Yang</strong></span></p><p>Following 30 years of development, Beijing is scattered with buildings which have failed the test of time and shown rapid deterioration since their completion. But a handful of buildings have bucked this trend to remain relevant and competitive for 20 years or more. </p><p>We look at the best examples in the market to see how quality, forward-looking construction is crucial in helping <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/office" target="_blank">office​</a> buildings maintain their premium positions rather than fall behind. </p><h3><strong>Building for the future</strong></h3><p>In order to last as Grade A office buildings in Beijing, developers must build for the future to guard against premature obsolescence. Due to the speed at which the market is evolving, standards for new construction should exceed what is typical in the marketplace today.</p><p>Many structural features of a building are difficult to upgrade in the future, and therefore, are important to get right from the start. For example, the average elevator and restroom provisions in post-2010 Grade A buildings are 20-30% larger than those built pre-2010. But some buildings stand out: China World Trade Center Towers 1 and 2, completed decades ago, still offer competitive quality. If we take a combination of specifications (as developed in <a href="http://www.joneslanglasalle.com.cn/china/en-gb/research/267/beijing-office-report-2017" target="_blank">No Turning Back: Beijing's Grade A Office Market Set to Shine,</a> buildings like CWTC 1 and 2 were ahead of their time in terms of quality.</p><h4><img src="/china/en-gb/PublishingImages/Lists/NewsSpecial/AllItems/average-grade-a-quality-index-en.png" alt="Average Grade A Quality Index" style="margin:5px;width:500px;height:298px;" /><br></h4><h3><strong>Maintain in order to gain</strong> </h3><p>Good maintenance always makes things last longer, but a generous annual capital expenditure budget is also required. It is important to note that there is more to maintenance than keeping a clean space with working facilities: upgrading is essential along the way, as it is impossible to predict everything that will be needed for the future. For example, personal computers were not yet the norm in the late 1980s, but now, the power capacity of offices has had to be adjusted to accommodate higher power consumption needs for each workstation. Buildings like China World Trade Center Tower 2 (CWTC2) have carried out upgrades to their building infrastructure over the years to meet the needs of today's tenant.</p><h3><strong>Outperforming the market</strong></h3><p>Landlords who put more in tend get more out of their buildings, allowing them to maintain a leading position with rent levels in Beijing's central business district over decades. In Figure 1 we show how CWTC 2 is a consistent top performer and outperforms 90% of CBD buildings even today. Others have not fared so well: their rental performance has lagged or fallen behind with age.</p><h4><img src="/china/en-gb/PublishingImages/Lists/NewsSpecial/AllItems/rental-performance.PNG" alt="Rental Performance Ranking of CBD Grade A Office Buildings in Beijing" style="margin:5px;width:550px;height:294px;" /><br></h4><p><em>Source: JLL Research​</em><br></p><h3><strong>Wholly owned vs. strata-titled</strong> </h3><p>While some of these observations seem fairly obvious, only a few buildings appear to have survived the test of time. What are the challenges holding them back? First and foremost is strata-titling. Only single-owned projects have the full flexibility required to keep up with the latest standards. If a building is built for strata-title sale to individual investors, less capital is in invested in higher-quality building features with lengthy payback periods. Second, after the building is sold to individuals, consistent and centralized maintenance is much more difficult. Some owners might use the space for office leasing, but others may use it for unintended purposes. Third, it will be easier for a single-owned building to make decisions regarding maintenance and upgrades. In many cases, maintenance is ignored to cut back on costs, and often the result is the lowest standard of maintenance or even no maintenance at all. </p><p>Revamps are also hard to achieve by consensus. It is nearly impossible to convince dozens of landlords to agree on capital expenditures. While the city's top buildings were pressing ahead with upgrades, the counter examples were stalled by a lack of decision-making. Even today, some buildings still do not have 24-hour chilled water, which most large tenants demand. In some poorly performing projects, a turnaround has been attempted by trying to buy back units and bring them under central ownership, but with limited success. </p><p>As new higher-quality office projects enter the market over the next 5-10 years, baseline building standards will further rise. To ensure their buildings last in the market, landlords need to plan for the future now – otherwise it will be too little, too late. </p><p><em>Mi Yang is the lead office analyst for JLL Research in Beijing. ​</em></p><p><em><br></em></p><p style="text-align:center;">​​– ends –​​</p><p>​​<span style="line-height:20.8px;">​</span><em style="line-height:1.6;">>>>Read more about <a href="http://www.joneslanglasalle.com.cn/china/en-gb/citymarkets/beijing" target="_blank">JLL ​Beijing​</a></em><br>​<em style="line-height:1.6;">>>>Read more about </em><em style="line-height:1.6;"></em><em style="line-height:1.6;"><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb/news" style="line-height:1.6;">JLL News</a></em><br>​<em style="line-height:1.6;">>>>Read more a​bout​ </em><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb/research" style="line-height:1.6;"><em>JLL Research​​​</em></a><em style="line-height:1.6;"><br></em>​​<br></p><span class="ms-rteFontSize-1 ms-rteThemeForeColor-5-0"><strong><em></em></strong></span><span class="ms-rteFontSize-1 ms-rteThemeForeColor-5-0"><strong><em>About JLL</em></strong></span><p>JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, <a target="_blank" href="http://www.joneslanglasalle.com.cn/" rel="nofollow">www.jll.com</a>. </p><p>JLL has over 50 years of experience in Asia Pacific, with 36,000 employees operating in 94 offices in 16 countries across the region. The firm won the ‘World’s Best’ and ‘Best in Asia Pacific’ International Property Consultancy at the International Property Awards in 2016 and was named number one real estate investment advisory firm in Asia Pacific for the fifth consecutive year by Real Capital Analytics.​ <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/asiapacific">www.jll.com/asiapacific</a>  </p><p>In Greater China, the firm was named ‘Best Property Consultancy in China’ at the International Property Awards Asia Pacific 2016, and has more than 2,200 professionals and 14,000 on-site staff providing quality real estate advice and services in over 80 cities across the country​.  <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb">www.joneslanglasalle.com.cn</a>​​​​​​​​​​​​​​​</p>0x01003D5B69DBCEFF8A4DAC22CC12D9F11F5400D1F2B63B5167CE45980996E1BDFDACDB
Wuqing’s non-bonded market is almost fully occupied due to a notable leasing transaction for expansion; A new shopping mall completed in the core submarket and achieved occupancy of 70%/china/en-gb/news/614/2017-q2-tianjin-property-reviewWuqing’s non-bonded market is almost fully occupied due to a notable leasing transaction for expansion; A new shopping mall completed in the core submarket and achieved occupancy of 70%<p>​<span style="font-size:18px;">​</span><em style="font-size:18px;">According to JLL Tianjin's </em><em><span style="font-size:18px;">2Q17 Property Review</span></em></p><p><strong>Tianjin, 18 July 2017 – </strong>JLL's 2Q17 property review revealed the following:</p><p></p><ul><li>One new Grade B office building completed in Old Town-Haiguangsi area<br></li><li>Retailers and 3PL firms remained active in leasing warehouse space<br></li><li>Robust retail leasing demand pulled the vacancy rate down to a 3-year low<br></li><li>High-end residential transaction volume declined due to the home-buying restrictions<br></li></ul><p></p><p></p><p></p><p></p><p></p><p></p><p></p><h3><strong>Office</strong></h3><p><strong style="color:#262626;font-family:"segoe ui semilight", "segoe ui", segoe, tahoma, helvetica, arial, sans-serif;font-size:1.15em;line-height:1.4;"></strong><span style="line-height:1.6;"><strong>Demand</strong></span><span style="line-height:1.6;"><strong> continues to stem from finance companies. </strong>Demand from domestic finance companies accounted for more than 40% of the quarterly leasing volume and <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/office" target="_blank">office</a> space areas under 500 sqm were the most popular sizes. For example, First Future, a domestic futures company, leased 500 sqm in Vantone Center for a new set-up and Guanghe Investment, a domestic finance company, leased around 450 sqm in Sunwah IFC. Demand was also driven by upgrading tenants that relocated to Grade A buildings such as Vantone Center, and Sunwah IFC. Minmetals Land Ltd, a domestic real estate company, relocated from a lower tier building to Vantone Center, leasing 860 sqm.</span></p><p><strong>One Grade B building, Rongqiao Center, was completed in 2Q17, adding 39,720 sqm to the Old-town-Haiguangsi submarket.</strong> The Grade A vacancy rate declined 1.6 percentage points q-o-q to 48.2% due to the positive net absorption while no new Grade A projects came on stream in 1H17. As a new completion entered the market with over 85% vacant space, the Grade B vacancy rate saw a slight increase of 0.9 of a percentage point q-o-q, but a decrease of 1.9 percentage points y-o-y. This was because no new supply had entered the Grade B market and there was positive net absorption in the previous three consecutive quarters. </p><p><strong>Net effective rents continued to decline, falling 0.6% q-o-q and 3.9% y-o-y, to RMB 92 per sqm per month on a like-for-like basis. </strong>Since there were no new Grade A completions in 1H17 and no future supply was expected in the upcoming quarters in the core area such as the Nanjing Road-Xiaobailou and Haihe Riverside submarkets, landlords who owned new Grade A projects in these submarkets kept rents stable to absorb the vacant space. As a result, Grade A rents saw a slight decrease, declining 0.2% q-o-q, to RMB 105 per sqm per month and Grade B rents declined 0.6% q-o-q and 2.3% y-o-y to RMB 87 per sqm per month.  </p><p><strong>Another four projects are expected to complete in 2017, and these will add 237,000 sqm and push the overall vacancy rate up slightly by end-2017.</strong> "While more high quality office buildings will gradually enter the market over the next few years, no new projects are expected to enter the Nanjing Road-Xiaobailou submarket, which is the most established CBD area in Tianjin, by 2020. We forecast that the vacancy rate in the Nanjing Road-Xiaobailou submarket will decline gradually and reach 19.6% by end-2020," noted <strong>Weiran Lv</strong>, Head of Markets for JLL Tianjin.</p><h3><strong>Logistics</strong></h3><p><strong>In 2Q17, demand rebounded significantly with net absorption at 93,004 sqm after a negative figure in 1Q17.</strong> The main demand drivers were retailers and 3PL firms. Two notable leasing transactions were Gold Hongye Paper, a domestic paper retailer, leasing around 50,000 sqm in GLP Wuqing <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/industrial-and-logistics" target="_blank">Logistics</a> Park Phase II, and Sinotrans, a domestic 3PL company, leasing 3,500 sqm in G Park Tianjin Phase II in Beichen.  </p><p><strong>Since there were no new completions in 2Q17, the non-bonded vacancy rate fell 3.6 percentage points q-o-q and declined 8.2 percentage points y-o-y to 18.3%. </strong>The total stock in Tianjin's non-bonded warehouse market remained at 2.6 million sqm at end-2Q17 and this market has remained inactive with no new completions or leasing activity for over two years. As of 2Q17, Tianjin's bonded warehouse vacancy rate stood at 9.1%.</p><p><strong>Net effective rents in the non-bonded market reached RMB 0.92 per sqm per day, an increase of 0.5% q-o-q, and 0.9% y-o-y on a like-for-like basis. </strong>The increase was led by submarkets such as Wuqing and Beichen, which saw the greatest demand and decreasing vacancy rates.</p><p><strong>Looking forward, seven new logistic projects are expected to enter the market, adding another 312,000 sqm warehouse space. Michael Hart, </strong>Managing Director of JLL Tianjin commented: "We forecast that Wuqing will continue to see demand from retailers and 3PLs. Since space in Wuqing is almost fully occupied with a 2.3% vacancy rate, which is considerably lower than Tianjin's non-bonded vacancy rate, landlords will have more negotiating power over rents. As leasing space is limited in Wuqing, we expect the overflow demand to shortly carry over to the Beichen surrounding areas."</p><h3><strong>Retail</strong></h3><p><strong>Leasing demand grew stronger in 2Q17, with net absorption at 188,000 sqm, an increase of 114.6% q-o-q and 157.3% y-o-y. </strong>New leasing demand continued to come mainly from the F&B and entertainment sectors. F&B retailers kept expanding in community malls to cater to nearby residents. For example, Nice Meeting You, a domestic restaurant, leased more than 400 sqm of space in Aegean Shopping Mall; Salsa opened a 400-sqm restaurant in Welife Plaza and several casual dining restaurants leased about 3,000 sqm in Global Mall Tianjin. Jiuxuanlv Music Centre took the place of some F&B stores in Robbinz Department Store, leasing about 500 sqm of space.</p><p>Besides the traditional <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/retail" target="_blank">retail​</a> categories, some new formats spread to both shopping malls and department stores, such as Mini KTV, game machines and the rapidly expanding 7-Eleven convenience stores. New retail kiosks attracted a growing number of younger customers and the appearance of new categories developed the diversity of the retail market in Tianjin. Outlets in these categories followed the changes in consumer behaviour and took advantage of shoppers' segmented time. "Developers should probably benefit from increased foot traffic and extra rental income as some outlets are located in public areas in shopping malls," commented <strong>Sunny Yin</strong>, Head of Retail for JLL Tianjin.</p><p><strong>TeeMall opened in the core area, Heping Road, adding another 190,000 sqm shopping space and was the only new high-quality shopping mall of 2Q17. </strong>It opened with a high occupancy rate at 70% and brought in several F&B retailers new to the city, and a new bookstore – Guangzhou Book Center. Direct access to the metro line and its large areas of space with a high proportion of F&B and entertainment outlets brought further competition to the market. Robust demand dragged down the vacancy rate to 13.9%, a decline of 0.7 of a percentage point q-o-q and 1.3 percentage points y-o-y.</p><p><strong>Net effective rents stood at RMB 11.5 per sqm per day, a slight increase of 0.4% q-o-q and 1.1% y-o-y on a like-for-like basis. </strong>Established malls with tight vacancy rates continued to see gradual rental increases but some underperforming malls that had poor access to public traffic or were undergoing repositioning offset the increasing rent momentum.</p><p><strong>Looking ahead, another two new malls are expected to enter the market by end-2017, adding 87,000 sqm new shopping space. </strong>These will be located in high density residential areas in Nankai District and we expect the lack of regional competition and the large consumer base to result in high pre-commitment rates and good performances. The overall vacancy rate is expected to decline continually up to end-2017.</p><h3><strong>High-end Residential</strong></h3><p><strong>Housing demand compressed during the quarter largely due to the tightening measures introduced on 1 April. These included restrictions on local unmarried and non-local residents from buying a second home and the raising of the down-payment for second-homes. </strong>Additionally, several banks cancelled discounts on mortgage rates. Sales volume in the high-end <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/residential" target="_blank">residential</a> market declined to 715 units, a 93.9% decrease q-o-q and an 81.0% decrease y-o-y. </p><p><strong>A total of 741 new units were launched in 2Q17, the lowest quarterly total in the last two years.</strong> These came mainly from the Meijiang and New Badali areas which accounted for 61.0% of the total. Vanke Dongdi Meijiang Townhouse Phase I was launched with 241 units and these were sold out during the quarter. The units' relatively lower prices than available in other projects in Meijiang and their access to the future metro line attracted first-home buyers.</p><p><strong>Capital values in the high-end residential market rose at a slower pace, increasing 11.1% q-o-q and 36.4% y-o-y. </strong>Although some tightening housing measures came into force, first-home and upgrading demand remained strong. The limited stock in central Tianjin, especially in the New Badali Area, continued to give developers the chance to raise prices.</p><p>We forecast that the tightening measures will remain in force in the next quarter. Chelsea Cai, Head of Research for JLL Tianjin, remarked, "The new housing restrictions are expected to keep the market quiet in terms of transaction volume. However, the limited high-end project supply in popular areas will make it hard for average prices to stop increasing."​</p><p><br></p><p style="text-align:center;">- ends -​</p><p><span style="line-height:1.6;"><br></span></p><em style="line-height:1.6;">>>>Read more about <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services" target="_blank">JLL Serv​ices</a></em><br><p><em style="line-height:1.6;">>>>Read more about </em><em style="line-height:1.6;"><a target="_blank" href="http://www.joneslanglasalle.com.cn/china/en-gb/news" style="line-height:1.6;">JLL News</a><br></em><em style="line-height:1.6;">>>>Read more about​ </em><a target="_blank" href="http://www.joneslanglasalle.com.cn/china/en-gb/research" style="line-height:1.6;"><em>JLL Research</em></a>​</p><p></p><div><br>​</div><span class="ms-rteThemeForeColor-5-0 ms-rteThemeFontFace-1" style="background-color:#ffffff;"><strong><em>About JLL</em></strong></span><p style="font-family:"helvetica neue", helvetica, arial, sans-serif;background-color:#ffffff;margin-bottom:20px !important;line-height:1.57143 !important;color:#454545 !important;"><span class="ms-rteThemeFontFace-1">JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit </span><a target="_blank" href="http://www.joneslanglasalle.com.cn/" rel="nofollow" style="color:#006ed3;"><span class="ms-rteThemeFontFace-1">www.jll.com</span></a><span class="ms-rteThemeFontFace-1">. </span></p><p style="font-family:"helvetica neue", helvetica, arial, sans-serif;background-color:#ffffff;margin-bottom:20px !important;line-height:1.57143 !important;color:#454545 !important;"><span class="ms-rteThemeFontFace-1"></span><span class="ms-rteThemeFontFace-1">JLL has over 50 years of experience in Asia Pacific, with 36,800 employees operating in 95 offices in 16 countries across the region. The firm won the ‘World’s Best’ and ‘Best in Asia Pacific’ International Property Consultancy at the International Property Awards in 2016 and was named number one real estate investment advisory firm in Asia Pacific for the sixth consecutive year by Real Capital Analytics.​​ </span><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/asiapacific" style="color:#006ed3;"><span class="ms-rteThemeFontFace-1">www.jll.com/asiapacific</span></a><span class="ms-rteThemeFontFace-1">  </span></p><p style="font-family:"helvetica neue", helvetica, arial, sans-serif;background-color:#ffffff;margin-bottom:20px !important;line-height:1.57143 !important;color:#454545 !important;"><span class="ms-rteThemeFontFace-1">In Greater China, the firm was named ‘Best Property Consultancy in China’ at the International Property Awards Asia Pacific 2016, and has more than 2,200 professio</span>nals and 14,000 on-site staff providing quality real estate advice and services in over 80 cities across the country​.  <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb" style="color:#006ed3;"><span class="ms-rteThemeFontFace-1">www.joneslanglasalle.com.cn</span></a><span class="ms-rteThemeFontFace-1">​​​​​​</span></p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88

 

 

China Logistics Demand/china/en-gb/research/283/logistics-demand-mini-whitepaper-enChina Logistics Demand​China’s growing consumer class is the driving engine behind the growing demand for high-quality logistics distribution space. 0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045
Asia Pacific Property Digest 1Q 2017/asia-pacific/en-gb/research/884/asia-pacific-property-digest-1q-2017Asia Pacific Property Digest 1Q 2017Asia Pacific: An oasis of calm amidst global political instability0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045