The Commercial Office Market and the Markup for Full Service Leases

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Jonathan A. Wiley; Yu Liu; Dongshin Kim; Tom Springer;
  • Journal: journal of Real Estate Research, volume 36, issue 3, pages 319-340
  • Subject:
    • jel: jel:L85

Because landlords assume all of the operating expense risk, rents for gross leases exceed those for net leases. The markup, or spread, for gross leases varies between properties and across markets. Specifically, the markup is expected to increase with the cost of real e... View more
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