Report
Office Break-Even Analysis
October 2023
October 17, 2023 45 Minute Read
Looking for a PDF of this content?
This report introduces a lease rate “break-even” metric, which is typically of most concern to landlords during lease negotiations with interested tenants. To calculate the number of years and months before a landlord reaches their break-even point for each lease that was signed during our study period, we first calculated the adjusted annual rent amounts for each year within the term of each deal.
The 2023 Seattle office market has been characterized by shorter leases with much lower rents and tenant improvement allowances, but with more months of free rent.