The Wall Street Journal is reporting that in cities considered tech-centric, such as Seattle, San Francisco, Boston and Atlanta, landlords are slowing down traditional deal makers such as free rent periods and remodeling allowances.
In 2017, effective rents in these markets “increased compared with the previous year, according to Savills Studley’s 2018 Effective Rent Index,” the article reported.
“By contrast,” the article reported, “the opposite occurred in major cities such as Washington, D.C., Houston, Chicago and New York City, where markets are more dependent on traditional office tenant sectors that include more cost-conscious financial-services companies, law firms and professional-services businesses,” according to Keith DeCoster, Savills Studley’s director of U.S. real-estate analytics.