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Competition for space shifts markets to favor landlords

  • ​​Nearly all U.S. Markets are seeing historically low vacancy rates with limited available options, tenants are competing for space pushing landlords to raise average asking rents, especially within markets with limited availability. For example, rental rates in Northern and Central New Jersey have increased at 18.5 percent and 10.8 percent respectively in the last 12 months.
  • Even though construction is increasingly abundant, demand will continue to outgrow supply and landlords will still hold control, at least in the near term. 88 percent of the markets tracked expect 2017 to continue to be landlord favourable.​
Source: JLL Research

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