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Source: JLL Research
More and more tech companies are driving demand for office space, but many of them—looking to grow—are seeking shorter term lengths.
According to JLL, more than 30% of deals completed in 2015 had terms shorter than five years. The majority of deals, however, were five-year deal terms, which made up 133 out of 423 total deals completed thus far in 2015.
Volume of these leases reflected a very similar layout. Deals with an end date in 2020 had over 947.3k SF of volume, while those with shorter terms totaled 819.3k SF.
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