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6.6 million square feet of new space being delivered over the next three years has led to large tenants making commitments to these highly-efficient spaces. This has created a robust sublease market, and a range of backfill opportunities for small to mid-sized tenants. With such a large amount of new Class A options, Landlords choosing not to improve their aging buildings likely risk lower asking rents and/or higher levels of vacancies in the future compared to their competitors.
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