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Landlords offer concessions galore to bring tenants into office space: opportunities to upgrade abound as leases expire.

Publication: San Diego Business Journal
Publication Date: 25-AUG-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Landlords offer concessions galore to bring tenants into office space: opportunities to upgrade abound as leases expire.(Special Report)

Article Excerpt
With the shift to a buyer's market in real estate, now is a good time to be a tenant searching for office space.

Higher vacancy rates in numerous submarkets is causing landlords to offer everything from free parking and handsome tenant improvement package allowances to reduced price per square foot rental rates and one to several months of free rent.

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"There are so many creative ways that landlords are getting tenants into their buildings," said Misty A. Moore, vice president of corporate services for Jones Lang LaSalle Americas Inc. in San Diego.

Chicago-based Jones Lang is a global financial and professional services firm specializing in real estate and investment management.

Moore, who is also a board member of Commercial Real Estate Women San Diego chapter, said a handful of landlords in San Diego are signing lease agreements of more than 50 cents below the asking rates. In...

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