Rising OPEX Pressure from Landlords, passed down to tenants, manifests in several measurable ways: Higher operating costs per square foot due to inflation in utilities, insurance, property taxes, maintenance, and labor can be passed through to tenants in annual increases. Increased capital expenditure requirements as landlords upgrade HVAC, security, and amenity spaces to attract tenants in a flight-to-quality environment can also be passed through to tenants, depending on le