Savills Studley has released its annual Savills Effective Rent Index (SERI), which tracks what tenants are paying for top tier Class A office space (tenant effective rent), and what landlords ultimately walk away with (landlord effective rent) once building expenses and leasing costs are deducted from net rent.
Derived from negotiated office leases, the index ultimately provides critical insight into the health of each market and its movement along the `landlord-tenant favorable’ spectrum.
The regional report explains the effects of construction costs and landlord concessions, employment rates and other important economic factors. Savills Studley releases annual Savills Effective Rent Index
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