Crexi's National Commercial Real Estate Report for May saw some overall positive changes for property owners.
At the top, they saw the asking price per square foot climb by 3.76% across the marketplace, accompanied by a cap rate compression from 6.82% to 6.6%. While that is good news on the surface, asking rents aren't necessarily what tenants pay. Negotiations could result in lower numbers. Landlords might offer concessions to get tenants to commit to a lease, which reduces net rent over the term.
Percentage growth varied by asset type: retail (7.33%), office (4.41%), multifamily (3.69%), hospitality (3.06%), and industrial (-1.26%).
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