The Source of Commercial Real Estate Office is Not Dead: The Keys to a Thriving Office Investment with Michelle Klingenberg
Enjoy this discussion with Michelle Klingenberg, SVP with JLL in Cincinnati. In this conversation, we talk through how to make an office investment thrive in terms of location, amenities, and design. We also discuss what makes a good mentor, how the changing debt market is impacting office, and the changing dynamics of the hybrid work culture.
Based in JLL's Cincinnati office, Michelle has 10+ years of experience in the greater Cincinnati real estate market. As senior vice president, Michelle is responsible for growing JLL Cincinnati’s agency leasing business, recruiting talent to join the firm and to build relationships with Cincinnati’s business communities and commercial real estate property owners.
Beyond her day-to-day JLL responsibilities, Michelle is working toward a greater vision for the firm to position Cincinnati as a preferred city for businesses to operate and establish as their headquarters. She aims to maintain JLL’s role as the premier local commercial real estate leader and to continue to uplift Cincinnati’s economy.
Michelle on Linked In:
lhttps://www.linkedin.com/in/michelleklingenberg/
Takeaways
- Mentorship is crucial in the commercial real estate industry and has played a significant role in Michelle's career.
- The female perspective brings a different skill set and outlook to the industry, making it valuable in a male-dominated field.
- A good mentor is someone who is willing to give their time, create a two-way relationship, and provide guidance and support.
- The office space market in Cincinnati is evolving, with a focus on amenities, collaboration spaces, and convenient locations.
- Landlord owners face challenges such as longer decision-making processes, high construction costs, and the need to proactively invest in their properties.
- Tenant expectations include quick move-in ready spaces, accessibility, and vibrant environments that offer more than remote work options.
- The Streitman Center project in Cincinnati exemplifies the success of creative office spaces that cater to the needs of young talent.
Chapters
00:00
Introduction
01:12
Michelle's Background in Commercial Real Estate
03:34
Mentorship in Michelle's Career
05:19
The Value of Female Perspective in Commercial Real Estate
07:48
Qualities of a Good Mentor
09:50
Engaging Younger Generations in Commercial Real Estate
10:36
Michelle's Work at JLL
12:36
Trends in the Office Space Market
16:21
Challenges Faced by Landlord Owners
21:11
Tenant Expectations and Trends
25:11
The Streetman Center Project
27:00
Creative Office Space in Cincinnati
32:03
Challenges Faced by Landlord Owners
34:05
Distress in the Office Space Market
35:02
Closing Remarks
Email Jonathan with comments or suggestions:
podcast@thesourcecre.com
Or visit the webpage:
www.thesourcecre.com
*Some or all of the show notes may have been generated using AI tools.