More Tenants Upsized Their Lease Renewals Than Downsized This Year

Christie Moffat with Bisnow writes, though it runs contrary to the narrative of declining leasing activity in the wake of the coronavirus pandemic, lease renewal data shows that the square footage leased grew by 2.2% from pre-renewal sizes during the second and third quarters of 2020. Overall, 42% of tenants sought to upsize their renewals during Q2 and Q3.