For the past two years, office building rents and occupancies have continued to decline, but new research suggests this may slowly start to change.
Tenants have had the upper hand for a while now, but businessmen suggest landlord concession packages arenb t going to get any better from here, prompting more tenants to sign long-term leases now while the price is right. And if employment greatly increases in 2012 as expected, landlords will be better situated to battle for the advantage; as more jobs open up, rent prices can rise as well.
Job creation—absolutely key to the recovery—likely will occur very slowly in the coming months. But for now, we can relish in the fact that the worst may very well be behind us.
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Tags: concession packages, job creation, landlord, occupancies, office, rents, tenant
