Concessions Make a Difference
Environmental Defense Fund (EDF) signed a lease for 36,843 SQFT at 257 Park Avenue South. The nonprofit's starting rent will be in the low $50s, which at first glance seems considerably discounted compared with the $60 PSF rent for neighbor Team Detroit. A closer look reveals, however, that both tenants are paying similar effective rents since Team Detroit received a considerable TIs and Free Rent package. |
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