Beware of “Market Rate”—How to Benchmark Rent Fairly

“Market rate” is thrown around a lot in leasing—but it’s often a moving target.

I had a tenant offered a renewal at “market rate” that was 18% higher than new tenants

were paying in the same building. They almost signed it—until we pulled comps and

renegotiated to match what the market was actually doing.

How to Check Market Rate:

Ask for comps in the same building and zip code

Review listings on multiple platforms (not just LoopNet)

Factor in concessions like free rent and TI

Work with a broker who knows local trends

At CIG, we value long-term partnerships. We price fairly, transparently, and

competitively—because churn doesn’t help anybody.