Average Lease Size Shrinks Nationally

Grubb & Ellis :: Market Research :: Weekly Market Insight: "Average Lease Size March 23, 2009"

excerpted:

There are several reasons behind this trend. Tenants signing new leases may have implemented previous staff reductions and are taking the opportunity to right-size their space. A related trend is that tenants may be less optimistic about expanding in the future and so are taking less space now. A third reason could be that smaller, more nimble companies are willing to grab the good deals being offered by landlords while large, publicly traded companies are waiting for the recovery to take hold.
Source: Grubb & Ellis