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CIM Commercial Trust Corp. reports 2020 first quarter results
Real Estate - JUNE 1, 2020

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CIM Commercial Trust Corp. reports 2020 first quarter results

by Released

Annualized rent per occupied square foot on a same-store basis increased 12.3 percent to $50.20 as of March 31, 2020, compared to $44.72 as of March 31, 2019, reported CIM Commercial Trust Corp. in its quarter results.

Same-store office portfolio was 86.1 percent leased as of March 31, 2020, compared to 96.7 percent as of March 31, 2019. The decrease is primarily due to the repositioning of an office property in Los Angeles.

During the first quarter of 2020, Commercial Trust Corp.  executed 9,232 square feet of leases with terms longer than 12 months, of which 8,254 square feet were recurring leases executed at the firm’s same-store office portfolio, representing same-store cash rent growth per square foot of 13.7 percent.

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