While occupiers of office space are generally making lease decisions with the short term in mind, that's not the case for Class A space in certain key submarkets.

"The best building in the best submarkets are frankly garnering a better lease rate than we've frankly ever seen in my career ever, period," CBRE net lease specialist Will Pike told the firm's Spencer Levy on a recent podcast. "Whether you're in New York City, Dallas, Atlanta, Seattle, again, micro markets of a market, I think it's too early to determine the actual lease structure and just assume that all occupiers are going to use shorter term leases."

Pike said that as office buildouts get more expensive, occupiers making long term capital decisions will continue to do just that: make long term capital decisions.

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