Tenant Improvement Allowance Disbursement Without a Completion Condition
Industrial vacancy hit 7.5% at the end of 2025 and is on track for 7.8% by the end of 2026, twice the sub-4% rate from 2023 and the highest in more than a decade. Two landlords who signed the same industrial tenant to million-square-foot leases this spring say the allowance went out the door before any of the promised buildout did.