CBRE is reporting that a great majority of the new commercial deliveries are pre-leased which means what's left will need to be leased as occupancy dates approach.
Large tenants are typically the ones who have committed to these blocks of space and typically are full floor occupiers.
What this means is that most commercial leasing tenants aren't going to be able to lease these spaces because 1. they may not be able to lease a full floor or more 2. new construction lease rates aren't cheap and 3. not everyone wants to be in a downtown or similar location.
Just because you see cranes and buildings being built doesn't mean there's new inventory that will be an option for small and medium-sized companies.
For the report, please click here.
