Big-Name Firms Are Dumping Office Space Onto The Exploding Sublease Market
Sublease space was up 40% at the end of 2020 across the U.S.
Sublease space was up 40% at the end of 2020 across the U.S.
Two large corporate pullbacks kept DFW's sublease space at about 9M SF, but more of it is beginning to move.
A new report from Cushman & Wakefield found that the inventory of sublease space across North America declined in the third quarter of 2021.
Boston last quarter saw its first increase in sublease availability since Q1 2021 as companies rethink their need for space.
Subleases are decreasing across the US, leading to higher rents.
Last three months have brought sublease spaces back to major markets, returning to 2013 levels. Midtown market most affected by influx.
Consolidations and moves from companies like Altice and Capital One have caused some of the only new office openings in Long Island.
Sublease space is on the rise again, leases are expiring at historic rates and not enough sales have happened to gauge how much office buildings are worth now.
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