Sustained job losses across the U.S. pushed vacancy to near-peak levels, while leasing activity remained stagnant due to tenant indecision. As a result, landlords have dropped rents close to 10.0 percent, on average, while increasing incentives significantly to draw tenant demand. Moving forward, tenants will hold enhanced leverage for the remainder of 2009 and well into 2010 until the employment markets begin to steady and eventually expand.