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Most Markets Saw Rents Rise Last Year

NEW YORK CITY-Rate increases of more than 25% were seen in four markets and only two reported decreases. San Francisco, Boston and Midtown New York City took top honors. Rents in Atlanta rose only 0.4% and slipped 1.7% in Los Angeles.

By John Howe | Updated on May 25, 2001

NEW YORK CITY-Most of the commercial real estate markets turned in higher tenant effective rents last year, according to the Studley Effective Rental Index, which analyzes 15 bellwether CBDs and markets. The tenant effective rent includes the base rent along with the occupant’s share of the building’s operating costs, electricity charges and real estate taxes.

Four markets logged rate increases of more than 25% with only two (Chicago and Los Angeles) reporting decreases, according to the study, which is compiled by Julien J. Studley Inc., a real estate firm that represents tenants. For the fourth consecutive year, San Francisco, Boston and Midtown New York City proved the most expensive cities to lease office space.

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