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JLL: Rents for Class B Office Space Jump 9.2%

WASHINGTON, DC—Class B tenants have little other choice than to pay the increase, unless they prefer moving to a class C building.

By Erika Morphy | erikamorphy | Updated on April 28, 2016

Seth Benhard Seth Benhard

WASHINGTON, DC—Over the last year rents for Class B office space have jumped 9.2%, according to JLL. The rent increase, which brings class B rents to $52 per square foot from about $45 per square foot a year ago, is in response to the plans by some class B building owners to convert their properties to class A status. The remaining class B building owners feel justified, or at least able, to raise their own rents accordingly.

“These tenants can stomach the increase by becoming more efficient,” JLL SVP Seth Benhard told GlobeSt.com.

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