Tenant leverage slipping across the U.S. in 2014

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In 2013, the U.S. office sector handed in its best performance in seven years. Leasing activity increased, absorption neared 40 million square feet and vacancy dipped to its lowest point since 2007. As a result, landlords across the U.S. lowered concessions and consistently pushed pricing upward throughout 2013.

As 2014 progresses, tenants can expect to see their leverage evaporate. The lack of new development options across the majority of markets signals the landlord-friendly environment could stick through the middle of 2015, at a minimum.

Visit JLL’s U.S. Office Outlook to learn more about the U.S.  office market recovery.

 

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