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Tenants Sign Blockbuster Renewals To Help Buoy National Office Recovery
Costar writes:
“Companies Willing To Recommit to Large Blocks of Space for Longer Terms
A growing cohort of corporate tenants is recommitting to large blocks of commercial real estate, helping to lay the foundation for a recovery of the national office market.
Across the United States, renewal deals among large tenants including Bank of America, mortgage giant Fannie Mae, investment firm Bain Capital and telecommunications provider Verizon account for almost half of the 156 office leases spanning 100,000 square feet or more that have been signed since the beginning of this year, according to CoStar data, on track to surpass last year’s activity. Those renewal agreements collectively total more than 14.1 million square feet, and while there are some companies reducing their space or relocating elsewhere, a large portion are staying put.”
Read more in the original article below:
costar.com
Tenants Sign Blockbuster Renewals To Help Buoy National Office Recovery
Companies Willing To Recommit to Large Blocks of Space for Longer Terms
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