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Tenant Improvements and Smart Building Technology

By Michael Moriarity on Nov 28, 2017 9:44:13 PM

Tenant improvement (TI) packages and allowances that include smart building solutions attract and retain tenants in a time of rising rents and vacancies across the U.S. office and commercial real estate markets. According to JLL Research's Q2 2017 U.S. Office Outlook, total vacancy increased for the third consecutive quarter in almost all asset classes, rising 10 basis points to 14.8%. The greatest vacancy growth was in Class A buildings, as rent growth and new supply outpace demand from more cost-conscious tenants who are looking to Class B buildings with attractive tenant improvement and concession packages (e.g., rent-free first month). 

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