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Report: Shifting Trends in Office Buildouts, 2018-2024 Year-to-Date
Download CompStak’s report: Shifting Trends in Office Buildouts
Uncover data-driven insights on how landlord-built, move-in-ready spaces are changing the office market. Learn how this post-COVID trend is helping landlords capture higher rents, accelerate occupancy, and better meet tenant demand for flexibility and convenience.
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- Rent Premiums: Landlord-built spaces are commanding an effective rent premium, maintaining double-digit growth since 2018, with recent premiums as high as 18.9%.
- Faster Occupancy: Landlord-built transactions move from lease signing to commencement about 33% faster than tenant-built deals. This reduction in time appeals to tenants looking for quicker operational starts and immediate access to ready-to-use spaces.
- Higher Total Lease Consideration: Landlord-built spaces show a stronger correlation between a higher work value and lease consideration. Since the 2018-2020 average, these transactions have gained 14.4 percentage points in the share of high-value office leases
- Growing Preference for Landlord-Built Spaces: In recent years, landlord-built office spaces have gained significant traction, making up 46.6% of all new office deals as of 2024. This shift reflects tenant demand for move-in-ready spaces, which offer streamlined occupancy timelines and higher lease value potential.
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