Industrial tenants reported the greatest increases in value for amount paid and future space needs this quarter, according to Kingsley Associates’ Q4 2015 Commercial Property Trends. For the four quarters ending on December 31, 2015, 54.9 percent of tenants indicated that their perceived value for amount paid was “good” or “excellent” with respect to their current industrial space, up 4.9 percent from one year ago.
A few of the highlights from our Q4 2015 findings include:
- The sharpest decrease in office tenant satisfaction occurred in San Francisco where just 84.8 percent of tenants expressed satisfaction with their current space
- Perceived value for amount paid decreased 5.6 percent amongst medical office tenants from 2014 to 2015
- 45.4 percent of retail tenants unlikely to renew their leases indicated that customer traffic was a primary decision factor, an increase of 15.3 percent from one year ago
Kingsley Associates annually surveys office, industrial, retail, and medical office tenants occupying over two billion square feet on behalf of its clients. The findings reflect responses received between January 1, 2015 and December 31, 2015. For additional data and analysis, see Kingsley Associates’ Q4 2015 commercial property trends slides and press release.