Oh Midsize Spaces, Where Art Thou?
Rental rates in the first quarter of 2018 held steady in the midst of lower vacancies, lack of midsized product, low tenant turnover, and bullish landlords. A midsize, multi-tenant project provides for spaces between 20,000 to 50,000 square feet. While activity slowed slightly during and after the holidays, negotiations ramped up toward the end of the quarter and are predicted to continue into the second quarter. However, there may be some relief on the horizon with new product coming on market at the end of the year in that size range.
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