JLL Says Midwest Takes Strides in High-Tech

CHICAGO—The US high-tech industry has played an outsized role in the recovery of the job market, and Midwestern cities such as Chicago, Minneapolis and Indianapolis have made strides toward creating clusters of tech entrepreneurs that may eventually have a major impact on their respective real estate markets, according to Jones Lang LaSalle’s recently published US High-technology Office Outlook, 2013.  

“The growth has occurred so quickly that high-tech companies in many of the country’s core markets now face a dwindling supply of creative office space,” the report noted. “While Silicon Valley maintains the lion’s share of high-tech companies, innovation centers are springing up in numerous other locations, driving demand for new employees and commercial real estate in the process.”