MARKET HIGHLIGHTS

• Subleases are the only value left (if you can find one)
• Percent annual rent increase are the new market norm (change from $/SF) = Greater impact on longterm occupancy costs
• Landlord allowances are at historically low levels as a % of overall tenant improvement costs
• Spec suites are keeping middle market demand healthy and driving rent growth
• Price is no object for employee retention/recruitment

MARKET DRIVERS

– LIMITED SUPPLY
– RENT SPIKES
– LEASE TERM WOES
– STRONG DEMAND

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