Office Renewal Intentions Reach All-Time High


Office Renewal Intentions Reach All-Time High


The high follows six continuous quarters of growth since Q1 2018, according to research firm Kingsley Associates.

After many years of steady renewal intentions, national office renewal intentions increased again this quarter to 68.4 percent of office tenants indicating they are likely to renew their lease. This increase marks six continuous quarters of growth beginning with 63.8 percent intent in the first quarter of 2018 as well as the highest renewal intentions for office that we have ever documented. The lowest renewal intentions documented were in the fourth quarter of 2009 when only 57.5 percent of office tenants were likely to renew....

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RSK: I have to say we have been experiencing this ourselves.

Ken Notes: With a recession on the horizon you may want to buy your tenants lunch and see you can get a renewal in writing! Remember what they could lease for pennies just a few years back...

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- - Volume: 7 - WEEK: 36 Date: 9/3/2019 7:11:36 AM -