Estimated reading time: 0 minutes, 25 seconds

Commercial Real Estate Recovery Fueled by Landlord Incentives

Friday, Jan 21 2022
Commercial Lending
Written by  The Mortgage Leader

Landlords have been offering unprecedented incentives, such as cash gifts or free rent, which has helped power a rebound in the U.S. office market. So reports The Real Deal.

manhattan 336708 1920For the Manhattan office market, cash payments to tenants more than doubled from $76 per square foot in 2016 to $156 per square foot in 2021, according to CBRE data.

Although official rents in that market rose 1.6% over the same period, landlords were actually bringing in 7.7% less, according to CBRE.

Read the full article from The Real Deal.

Read 1666 times
Rate this item
(0 votes)
More in this category: « MBA Survey Predicts a Strong 2022 for Commercial Mortgages Commercial Property Sales Jump to Record in 2021 »

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline