Jonathan D. Miller


Jonathan D. Miller
Partner and Co-owner
Miller Ryan LLC

Executive Bio

A marketing communication strategist who turned to real estate analysis, Jonathan D. Miller is a foremost interpreter of 21st citistate futures – cities and suburbs alike – seen through the lens of lifestyles and market realities.

For more than 20 years (1992-2013), Miller authored Emerging Trends in Real Estate, the leading commercial real estate industry outlook report, published annually by PricewaterhouseCoopers and the Urban Land Institute (ULI).  He has lectures frequently on trends in real estate, including the future of America's major 24-hour urban centers and sprawling suburbs. He also has been author of ULI’s annual forecasts on infrastructure and its What’s Next? series of forecasts. On a weekly basis, he writes the Trendczar blog for GlobeStreet.com, the real estate news website.

Outside his published forecasting work, Miller is a prominent communications/institutional investor-marketing strategist and partner in Miller Ryan LLC, helping corporate clients develop and execute branding and communications programs. He led the re-branding of GMAC Commercial Mortgage to Capmark Financial Group Inc. and he was part of the management team that helped build Equitable Real Estate Investment Management, Inc. (subsequently Lend Lease Real Estate Investments, Inc.) into the leading real estate advisor to pension funds and other real institutional investors. He joined the Equitable Life Assurance Society of the U.S. in 1981, moving to Equitable Real Estate in 1984 as head of Corporate/Marketing Communications. In the 1980's he managed relations for several of the country's most prominent real estate developments including New York's Trump Tower and the Equitable Center. 

Earlier in his career, Miller was a reporter for Gannett Newspapers. He is a member of the Citistates Group and a board member of NYC Outward Bound Schools and the Center for Employment Opportunities.

  • Downtown LA Revival—For Millennials Only?

    You can pick up some of your most cogent, well-spoken market information from cab drivers… A hack in LA was no exception earlier this week. “It’s the smart young people who work hard and play hard who are moving into downtown.” And he should know—he shuttles them back-and forth between the Staples Center’s one-big open sports-bar scene and rental apartment towers, which spring up and shoehorn in among office buildings and decked parking garages east…

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  • Wall Street Swoon Raises Real Estate Worries

    Real estate lags, the stock market predicts… So should we be worried? Really only perceptions among investors are finally changing by turning more pessimistic. For real estate markets—retail and hotels will register the impacts sooner. The recent volatile downward moves on Wall Street and world exchanges only underscore what has been obvious—the global economy remains impaired and has lived off extremely low interest rates. Europe has not recovered from the 2008 debt crisis—ageing demographics and welfare state systems…

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  • The Waldorf and Strong Dollar

    Waldorf Hotel Sale: Here is a confluence of an offshore investor seeking to park money in a safe place, the power of 24-hour city-global gateway dynamics, and overshooting on iconic properties.  Just up Park Avenue two condo developers hope to cash in on the same factors by building sky-high trophy towers to attract skittish capital.  You think wealthy Chinese are not nervous over the Hong Kong demonstrations—highlighting the widening gap between rich and poor? How…

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  • Casino Roulette

    Casinos still seem to be popping up everywhere as seemingly desperate states pass enabling laws, looking to stimulate economic expansion in down-and-out areas or raise tax dollars—anything to overcome the effects of the lukewarm economy on revenue growth.

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  • Advantage Developers For Now

    We’re now well into the development stage of the real estate cycle—even though commercial vacancy rates are higher than average in many markets this late in recovery.

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  • Here We Go Again--Development in Atlanta...Ferguson... Going Global?

    Development Ramps Up Again in Atlanta: The market office vacancy rate is 17% (down from the mid-20s), but developers are resuming activities, specifically in uptown Buckhead, the city’s most desirable submarket.

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  • Past Performance Does Not Guarantee Future Success

    It’s the point in the real estate cycle where early opportunity and value add funds sell assets and pay back investors typically with extremely solid returns. If you invested in apartments or office in major downtowns in 2009 or 2010 you have done rather well. Hotels have also escalated in value and industrials have rebounded. It’s time to cash in. …

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  • Stretching (or Over-reaching) on Deals

    Having trouble putting money out, sustaining a decent yield? Who isn’t? It’s been a consistent theme too much capital chasing too little quality real estate product, and the smart money is holding onto stabilized, core product in the top-tier, 24-hour markets. So investment managers and private equity players find themselves stretching—their investment parameters, the range of markets they consider, the property types they seek, and the ultimate deals they do—to keep their clients and partners happy,…

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  • New York’s Condo Reach: How Much is Too Much?

    Marble and granite may still be in favor as part of the executive suite, only now its in kitchen countertops and shower-bathroom accommodations rather than in vast entrance lobbies and curtain walls.

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  • Economy Peaking?

    Jonathan D. Miller recaps the prevailing economic trends, five years into the recovery...

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