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Presuming that this drop in Capitalization Rates is accompanied by a zero-growth general business environment, what imbalance might there be in market influence between buyers

Presuming that this drop in Capitalization Rates is accompanied by a zero-growth general business environment, what imbalance might there be in market influence between buyers (landlords / investors) and users of space (tenants)? What sort of market feedback loops are at work?

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