In 2024, landlord concessions for office leases declined for the first time since CBRE began tracking them in 2019, signaling a potential market stabilization. Concession packages peaked in 2023, averaging $97.55 per SF in tenant improvement allowances and 9.6 months of free rent, but fell to $87.51 per SF and 8.9 months of free rent in 2024. Despite the drop, these figures remain about 30% higher than in 2019.

https://www.bisnow.com/national/news/office/landlord-concessions-cbre-report-march-2025-128372?utm_source=outbound_pub_74&utm_campaign=outbound_issue_84471&utm_content=outbound_link_13&utm_medium=email