Interesting and unique factors and conditions have come into play in office rents as concessions, and other incentive packages – including furnished space and "free rent"– have firmly made it a tenants' market right now, industry analysts said.
Colliers released key office rent data this month, including a positive turn for absorption from negative 0.5 million square feet in Q1 2022 to 3.1 million square feet in Q2 2022.
Meanwhile, asking rents showed little change, with average Class A full-service office asking rates falling by 0.4% to $41.05 per square foot in the second quarter.
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