Search
 

Office Tenants' Taste for Robust Concessions Is Now Baked In

WASHINGTON, DC--Concessions have increased materially even as US real estate markets are rebounding, Sandy Paul, NGKF's managing director of national market research, tells GlobeSt.com in an advance look at a new report.

By Erika Morphy | erikamorphy | Updated on December 14, 2016

Sandy Paul Sandy Paul

WASHINGTON, DC–Following the Great Recession the entire US, for the most part, became a tenant’s market. Landlords eagerly granted generous TIs and free rent to keep existing tenants and lure the occasional new one.

Markets around the US have long started improving but tenants don’t seem to have gotten the message. “Even though the markets have rebounded nationally concessions are still increasing for class A space,” says Sandy Paul, Newmark Grubb Knight Frank’s managing director of National Market Research and co-author of a report on the subject that the company is about to release.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.