Existing office leases are being renewed at high rates and new leases are mostly going to Class A or Class A+ space, according to a new report from CBRE that analyzes the top 100 lease signings in 2023.
CBRE's report showed that 58% of those leases – by number and by square footage – were renewals of expiring leases for the same space.
As for the flight to quality, 84% of new leases sought those accommodations.
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