Office Rents Outpacing Inflation (Along with Turkeys)
Turkeys and office space might have more in common than you think.
The cost of both outpaced inflation over the past 12 months, according to Grubb & Ellis. The American Farm Bureau Federation reports that the price of a Thanksgiving dinner for 10, including turkey and all the trimmings, rose 3.6 percent from last year.
The average asking rent for office space rose 6.8 percent over the past four quarters, putting both turkey and office space in excess of the 1.3 percent annual gain in the consumer price index for all urban consumers.