Tight supply was the warning. Limited development confirmed it. Now, the impact is hitting tenants directly—rising costs.
What's happening:
Asking rents in high quality assets have increased compared to pre-2020 levels, while landlords are facing rising insurance, taxes and operating costs.
What it means for tenants:
▪️Upward pressure on rates, especially in top tier buildings
▪️Landlords are less willing to reduce face rents
▪️Cost increases are being pushed through to deals
The market isn't spiking-but it is steadily tightening.
If you're planning a lease in this market, understanding these dynamics early can make a meaningful difference—reach out to Ryan Dierker to discuss your strategy.