The listed or advertised rent per square foot that a landlord requests for available space before negotiations, concessions, or adjustments. It represents the starting point for lease negotiations, not the final economic deal.
Asking rent (also called "face rent" or "headline rent") is the gross rent figure before deducting the value of landlord concessions such as free rent, tenant improvement allowances, or above-market landlord work. Brokers and market reports typically track asking rents as a benchmark for market conditions, but actual achieved rents (effective rents) are often 10–30% lower in soft markets due to concessions. When abstracting or analyzing leases, comparing asking rent to net effective rent reveals the true economic discount and the value of concessions embedded in each deal.
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