WASHINGTON, DC–Ground-up development has captured 3 times moreleasing activity than redevelopments — 4.5 million square feetversus 1.5 million square feet, according to a new data point byJLL. Indeed, only 33% of recently delivered orunder construction ground-up projects remain available versus 56%of space at redevelopments.

However that doesn't mean these buildings — or for that matterredeveloped existing buildings — are making much headway withrental rates. In this strong tenant market, with heavy concessionsthe norm, the effective rental rate is flat, CarlCaputo, JLL Senior Research Analyst tells GlobeSt.com.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.