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Old Posted Oct 23, 2020, 10:34 PM
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ardecila ardecila is offline
TL;DR
 
Join Date: Jun 2006
Location: the city o'wind
Posts: 16,368
For some tenants, being the first or second tenant to sign onto a proposed tower comes with certain advantages. You have your pick of the floors in the building, unlimited flexibility to rent multiple adjacent floors in a block as needed, and you have a lot of leverage to get concessions, rent breaks or even sometimes design changes out of the developer. Sometimes naming rights are at stake, signage/branding opportunities, etc.

If a tenant is looking at a new building that's 50-60% leased and already under construction, they have a lot less leverage when they cut a deal with the developer.
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