Net Effective Rents in Focus: Bellevue (May 2023)

This report reveals recent trends with respect to net effective rents, which account for the time value of money and its impact on the real value of rents collected by landlords in future years, offset by landlord concessions that come in the form of free months of rent, tenant improvement budgets and operating expenses. Net effective rents are the true measure of the cost of a NNN lease in today’s dollars.