2026 Market Data

Commercial Lease Benchmarks

2026 rent ranges, TI allowances, free rent norms, and CAM/NNN structures — organized by property type and market tier. Use this data to benchmark your lease before negotiating.

Data aggregated from CBRE, JLL, and CoStar market reports (Q1 2026). Ranges reflect typical lease terms — actual economics depend on property quality, location, tenant credit, and market conditions at time of negotiation.

Office Lease Benchmarks 2026

Class A, B, and C office space benchmarks by market tier — rent per square foot, TI allowances, free rent, and typical lease terms.

Sources: CBRE 2026 Office Occupier Sentiment Survey, JLL U.S. Office Outlook Q1 2026, CoStar Market Analytics

Avg U.S. Office Vacancy (Q1 2026)
19.8%
Highest since 2000
Typical Escalation Rate
2.5–3.5%/yr
Annual fixed or CPI-capped
Security Deposit Norm
1–3 months rent
Letter of credit preferred for Class A
Renewal Option Premium
FMV or 95% FMV
Negotiate floor: 95% of FMV

Tier 1 — Gateway Markets

NYC Midtown, SF Financial District, Boston Seaport, DC NoMa

Rent Range
$55–$110/sq ft/yr
TI Allowance
$80–$150/sq ft
Free Rent
6–18 months
Lease Term
7–12 years
CAM / NNN
Gross/Modified Gross — CAM included

💡 Trophy assets command $100–$175/sq ft. Class B softened 15–20% from 2022 peak. High sub-lease availability suppressing asks.

Tier 2 — Major Secondary Markets

Austin, Denver, Raleigh-Durham, Nashville, Chicago Loop

Rent Range
$32–$65/sq ft/yr
TI Allowance
$55–$110/sq ft
Free Rent
4–12 months
Lease Term
5–10 years
CAM / NNN
Gross/Modified Gross

💡 Austin and Nashville remain tight for Class A. Chicago Loop Class B deeply discounted. Suburban markets in strong demand.

Tier 3 — Tertiary Markets

Indianapolis, Columbus, Memphis, Omaha, Boise

Rent Range
$18–$38/sq ft/yr
TI Allowance
$30–$65/sq ft
Free Rent
2–6 months
Lease Term
3–7 years
CAM / NNN
Gross/Modified Gross

💡 Vacancy rising in downtown cores. Suburban Class A competitive. Shorter terms common. TI budgets compress faster here.

Turn Benchmarks Into Negotiating Power

Use these benchmarks with LeaseAI's tools to model your actual lease cost and identify where you have leverage.

About This Data

Benchmarks are compiled from publicly available Q1 2026 market reports published by CBRE, JLL, and CoStar — three of the largest commercial real estate data providers globally. Data represents typical market ranges; individual transactions may fall outside these ranges based on building quality, submarket conditions, tenant credit quality, lease term, and negotiation outcomes.

Always work with a tenant representative broker to validate current market conditions in your specific submarket before entering lease negotiations. Market conditions can shift materially between quarterly report publication dates and the date of your transaction.