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Commercial Real Estate Recovery Fueled by Landlord Incentives

Landlords have been offering unprecedented incentives, such as cash gifts or free rent, which has helped power a rebound in the U.S. office market. So reports The Real Deal.

manhattan 336708 1920For the Manhattan office market, cash payments to tenants more than doubled from $76 per square foot in 2016 to $156 per square foot in 2021, according to CBRE data.

Although official rents in that market rose 1.6% over the same period, landlords were actually bringing in 7.7% less, according to CBRE.

Read the full article from The Real Deal.

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