The amount of office space for sublease increased in most top markets, but tech cities fared worst, and more diverse cities like Chicago saw modest increases.
The company is looking to sublease 400K SF.
Commercial real estate fundamentals are slowing down in tech-focused markets.
Led by Class-A negative absorption, DFW's office vacancy climbs 370 basis points year-over-year.
The genetic testing firm has been trying to sublease its Sunnyvale building for years, but now it has officially left the space behind and reduced its footprint
In Boston's 128 corridor, sublease space is becoming competitive with direct-lease.
S.F. had the greatest sublease space as a percentage of total office availabilities in Q4 2020 at 52.6%. Market growth is expected in Q3 and Q4 2021.
KBS Growth & Income REIT's Houston property decreased in value by 15% in the space of a single year.
Although many people predicted downtown firms would soon start establishing satellite offices in the suburbs, few have done so thus far.
The rise of the delta variant has put off the market's recovery for months, beyond the normal boom-and-bust cycle seen in other recessions.
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