Continued reverse migration into the downtown office market from the beltline office market has put significant pressure on most landlords struggling to attract or retain tenants, forcing many to consider re-positioning assets.
- As a result, tenants are demanding higher tenant improvement allowances, better amenities, flexible lease terms and/or partnership opportunities in order to stay in their current space.
- In order to stay competitive with the enticing deals offered by select downtown landlords, Colliers has been seeing more suburban ownership groups entertain forward-looking transactions.
- We believe that a discussion surrounding workplace innovation and strategy will be central to many negotiations going forward, as occupants are increasingly focused on the interaction of space with their ability to attract and retain top talent, maximize productivity, improve health & wellness and embody their corporate culture.
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