We need one more fact, Leyla, to be able to assess the industrial sector. That is the amount of free rent. In class A office, rents have stayed up more than one would believe. But that is because landlords have been more willing to forego income for a year or so than to lower the nominal rent number. Depending on the length of the lease, that is ballpark a 5% to 10% effective rent discount.
I've seen nothing from industrial about this, that I recall. Have you?
We need one more fact, Leyla, to be able to assess the industrial sector. That is the amount of free rent. In class A office, rents have stayed up more than one would believe. But that is because landlords have been more willing to forego income for a year or so than to lower the nominal rent number. Depending on the length of the lease, that is ballpark a 5% to 10% effective rent discount.
I've seen nothing from industrial about this, that I recall. Have you?