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Concessions


• From 2011 through 2015, free rent allowances have declined.  Since 2016, free rent amounts have slowly increased.

• Tenant improvement dollars (TIs) have been relatively stagnant until 2016. 

• Average TIs have increased from $48.23 psf in 2016 to $68.07 psf in 2018 (YTD), up about $20 psf over the last two years. 

• Class A concessions are more generous than class B.  Averages for 2018 (YTD) are 2.1 months and $69.47 psf for class A and 1.2 months and $39.55 psf for class B.


Source: JLL Research




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