Quote:
Originally Posted by you&me
With the state of the office market, my guess would be they're basically getting space for free (lease) for three years to allow for the remediation and then leveraged their return for a sweat heart long-term deal.
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Yup pretty much. Although for a quality building like The Bow they are still going to have to pay some rent. I know everyone hears about 30% vacancy downtown but in the AA Class sub-market the vacancy rate is only 8% which is a pretty balanced market. Eight Avenue Place actually rose their rents last quarter, first time in 3 years someones done that.