Where Pricing Power Quietly Shifts Without Changing Headline Rents In commercial leasing, market strength is often assessed through asking rents and absorption rates. While these metrics remain important, they do not always reflect the full picture of effective pricing. One of the most telling indicators of true market conditions is the structure and frequency of lease concessions. Concessions rarely appear in headline numbers, yet they materially influence net effective rent

Introduction: Why TI and Fit-Out Costs Matter Tenant improvements (TI) and fit-out costs are central to commercial property strategy, impacting both leasing timelines and overall investment performance. For property owners, investors, and managers, understanding cost trends ensures accurate budgeting, efficient project delivery, and alignment with tenant expectations. TI expenses cover everything from interior finishes and partitioning to technology integration and accessibil