Tenant Expansion refers to the process of increasing the physical space or footprint that a tenant occupies within a property or real estate portfolio. This can occur in various contexts, such as commercial real estate, where a business may lease additional office space, retail outlets, or warehouses to accommodate growth or operational needs. Tenant Expansion can also involve modifying existing lease agreements to include more space, often as a strategic decision to enhance productivity, service more customers, or facilitate new business opportunities. In residential contexts, it may involve expanding living space through renovations or moving to a larger unit. The concept emphasizes the relationship between the tenant’s growth requirements and the property’s ability to accommodate those needs effectively.
Boston-based commercial real estate firm Cresa recently published its annual Market Insights Reports, offering valuable insights and predictions for the region's commercial real estate market beyond 2024. With a reputation…