More landlords are offering pre-built office space and an increasing number of free rent months to attract tenants. Manhattan’s vacancy climbed two points to 7.1 percent in the second quarter, compared to last year. Landlords are offering an average of three to six months of free rent, up from two to four months last year, and they are giving tenants $40 to $50 per square foot cash allowances for build outs, up from $30 to $40 last year.
Landlords up incentives for tenants
August 25, 2008 11:32AM
