Concessions offered to lure office tenants are eating away at landlords' income - Jacksonville Business Journal

It represents another challenge facing the office market, which continues to see depressed leasing activity and rising vacancy, including from sublease space.

"What we’re seeing is, even if starting rents look like they're back to pre-pandemic levels or even exceeding it, the amount of concessions landlord are offering are well above pre-pandemic, which is really affecting the income to the landlord," saidflight-to-quality being a demonstrated trend CompStak found the average amount of free months awarded for Class A office space is up 42.9% from the end of 2019, to 6.2 months, while it's up 32.1% for Class B space, to 3.9 months. Among Class B office space tracked by CompStak, effective rents are down 4.4% since the end of 2019, and starting rents are down 1.8% during the same period.

The average work value — a term used by CompStak to describe tenant-incentive allowances — awarded for Class A office space is up 48.9% from the end of 2019 to $58 per square foot, according to CompStak. In Class B space, the average work value is up 32.3% from late 2019, to $31 per square foot.

الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Jacksonville Airport construction - Jacksonville Business JournalJacksonville International has many changes in store to make travel more efficient for every passenger. See where all of the major projects stand today. Great to see this growth! Who can I get in touch with to learn more about what they are doing? Any help is greatly appreciated!! Duval
مصدر: JaxBizJournal - 🏆 599. / 51 اقرأ أكثر »

Laura Gonzales will lead Matthews Real Estate's expansion into Jacksonville - Jacksonville Business JournalIt will be the company's third office in Florida and 17th in the country.
مصدر: JaxBizJournal - 🏆 599. / 51 اقرأ أكثر »

Concessions offered to lure office tenants are eating away at landlords' income - Phoenix Business JournalA growing spread between starting and effective rents illustrates how office landlords — even among coveted Class A buildings — are seeing their rental income eroded as the office market remains squarely in favor of tenants.
مصدر: phxbizjournal - 🏆 254. / 63 اقرأ أكثر »

Florida jobless claims up slightly - Jacksonville Business JournalThe Department of Labor estimated that 183,000 claims were filed nationally last week.
مصدر: JaxBizJournal - 🏆 599. / 51 اقرأ أكثر »

The List: Here's the largest rehabilitation facilities on the First Coast - Jacksonville Business JournalHere are the First Coast's largest rehabilitation facilities by number of licensed therapists.
مصدر: JaxBizJournal - 🏆 599. / 51 اقرأ أكثر »

Founders of Hamptons' The Bridge car show debuting The Hanagar in Fernandina - Jacksonville Business JournalFounders of elite New York car show debuting new event in Fernandina
مصدر: JaxBizJournal - 🏆 599. / 51 اقرأ أكثر »