The biggest indicator: There's suddenly 1.7 million square feet
of sublease space available in San Francisco, up more than 50 percent from 1.1 million square feet in November, according to CBRE Group, a commercial real estate services and investment firm.
Experts say the 24 - hour dynamics of the «consensus six» cities are a recurring theme for success because they prompt a quick recovery from the 2001 deluge
of sublease space.
The large amount
of sublease space placed on the market during the energy downturn decreased during 2017; however, sublease space crept back up over the 9.0 M SF mark during Q1 2018.
Oil and gas firms having to downsize or merge are now offering 22.6 million sq. ft.
of sublease space in the top seven North American markets, almost double the 10 - year average, according to a recent JLL report.
Nationally, the volume
of sublease space has improved markedly since the peak of the recession.
In particular, Houston's «Energy Corridor» on the west side of the metro has been dealing with a significant amount
of sublease space and rising concessions.
The supply
of sublease space is fueled by tech companies, such as Salesforce, that are moving into new headquarters and putting their old offices on the market, as well as by companies such as Twitter Inc. whose real estate needs have fallen short of their planning, according to Gundersheim.
The outlook for 2016 is expected to be extremely slow in Houston, with rising vacancies, flat or even declining rents and a heavy load of space still left to absorb due to a high volume
of sublease space coming back to the market and a wave of new construction completions.
Nationally, the volume
of sublease space has improved markedly since the pea...
As the office market continues to eke out its recovery, the sector is still trying to dig out from under a sizable load
of sublease space.
While the share
of sublease space points to a slowing tech industry locally, it's not all bad news.
Not exact matches
For the past year, they've been
subleasing a 1,000 - square - foot
space from the owners
of the Thai restaurant in town, and now they have their sights on the theater.
After graduating from the Atlanta Tech Village, we were lucky to
sublease square feet
of office
space for our rapidly growing team that's now at 110 employees!
«I can confirm that pending the outcome
of the head - tax vote by City Council, Amazon has paused all construction planning on our Block 18 project in downtown Seattle and is evaluating options to
sublease all
space in our recently leased Rainier Square building,» Amazon VP Drew Herdener told the Seattle Times.
«Thus, any tech
sublease space that hits the market — a sign that firms have possible sopped growing and have started shrinking — makes a lot
of people very nervous.»
Sublease spaces have asking rents about 17 % below that
of direct
space and is often move - in ready with furniture, making it more affordable for smaller or new firms.
Unlike the majority
of coworking
spaces, Spacious is not
subleasing a
space from the landlord.
Effective June 7, 2017, upon the close
of the Transaction, the Company terminated the
sublease agreement between Croe, Inc. and Acadia Properties for the
sublease of office
space in Draper, Utah.
With Truss, landlords can post listings and
subleases at no cost and market vacant
spaces directly to tens
of thousands
of tenants.
Stock now over $ 20 / share... — Twitter Inc. is offering about a quarter
of the
space at its San Francisco headquarters complex for
sublease, adding to a growing amount
of excess offices available in the city as the technology industry cools.
The
sublease, which the board had arranged through Columbia University, according to CB12, doesn't include the cost
of evening security even though the board was clear about its need for night access prior to moving into the
space in 2013.
«The state university usually takes up a portion
of this
space and we'll probably be working with the university on a
sublease arrangement,» Fuller Road Management President Robert Megna said during Monday's meeting.
[Box 28] 1101 Vermont Ave., lease information, 1981 Real estate, 1101 Vermont Ave.,
subleasing, Julien Studley, 1984 - 1985 Real estate, 1101 Vermont Ave.,
subleasing, 1985 - 1986 Real estate, Spaulding reports on Washington office
space market, 1982, 1988 Space Planning Committee, input for new building, 1980 - 1982 Real estate 1776 Mass Ave., lease information, 1980 - 1985 GWU lease to 14th and H Associates, 1980 1333 H Street Developer's brochure, 1982 Coldwell Banker, 1984 JTR notes on parking, etc., 1984 dispute over building size, 1984 lease between AAAS and NY Life, 1984 - 1985 final draft of lease, 1984 first lease amendment, 1985 second lease amendment, 1987 financial impact of move, 1985 misc., 1985 space concerns, 1984 Design Business Interiors (DBI) Move Committee meeting minutes, 1984 - 1985 ORS Associates, relocation plan, 1984 relocation, budget, 1984 relocation, employee info on moving records, 1985 relocation, misc., 1985 1515 Mass Ave. appraisal reports, 1977 & 1981 Dupont Circle historic district, 1983 potential sale, misc., 1984 interested buyers, 1981 - 1983 potential sale, broker proposals, 1984 sale to Tunisian Embassy,
space market, 1982, 1988
Space Planning Committee, input for new building, 1980 - 1982 Real estate 1776 Mass Ave., lease information, 1980 - 1985 GWU lease to 14th and H Associates, 1980 1333 H Street Developer's brochure, 1982 Coldwell Banker, 1984 JTR notes on parking, etc., 1984 dispute over building size, 1984 lease between AAAS and NY Life, 1984 - 1985 final draft of lease, 1984 first lease amendment, 1985 second lease amendment, 1987 financial impact of move, 1985 misc., 1985 space concerns, 1984 Design Business Interiors (DBI) Move Committee meeting minutes, 1984 - 1985 ORS Associates, relocation plan, 1984 relocation, budget, 1984 relocation, employee info on moving records, 1985 relocation, misc., 1985 1515 Mass Ave. appraisal reports, 1977 & 1981 Dupont Circle historic district, 1983 potential sale, misc., 1984 interested buyers, 1981 - 1983 potential sale, broker proposals, 1984 sale to Tunisian Embassy,
Space Planning Committee, input for new building, 1980 - 1982 Real estate 1776 Mass Ave., lease information, 1980 - 1985 GWU lease to 14th and H Associates, 1980 1333 H Street Developer's brochure, 1982 Coldwell Banker, 1984 JTR notes on parking, etc., 1984 dispute over building size, 1984 lease between AAAS and NY Life, 1984 - 1985 final draft
of lease, 1984 first lease amendment, 1985 second lease amendment, 1987 financial impact
of move, 1985 misc., 1985
space concerns, 1984 Design Business Interiors (DBI) Move Committee meeting minutes, 1984 - 1985 ORS Associates, relocation plan, 1984 relocation, budget, 1984 relocation, employee info on moving records, 1985 relocation, misc., 1985 1515 Mass Ave. appraisal reports, 1977 & 1981 Dupont Circle historic district, 1983 potential sale, misc., 1984 interested buyers, 1981 - 1983 potential sale, broker proposals, 1984 sale to Tunisian Embassy,
space concerns, 1984 Design Business Interiors (DBI) Move Committee meeting minutes, 1984 - 1985 ORS Associates, relocation plan, 1984 relocation, budget, 1984 relocation, employee info on moving records, 1985 relocation, misc., 1985 1515 Mass Ave. appraisal reports, 1977 & 1981 Dupont Circle historic district, 1983 potential sale, misc., 1984 interested buyers, 1981 - 1983 potential sale, broker proposals, 1984 sale to Tunisian Embassy, 1984
When a person signs something agreeing to rent a
space for a given amount
of time, what's the difference between the person subletting, assigning and
subleasing the
space?
Office
spaces come in a variety
of options, but
subleasing a
space in someone else's office is -LSB-...]
Does your name appear, or only the name
of the entity that is
subleasing the
space?
It accepts listings only for office
space that is a
sublease from a law firm or that was built for the purpose
of housing a law firm.
The property manager for DLA's new building has
subleased a portion
of the firm's
space to Greenberg Traurig and several other companies, according to the filing, which notes that as
of June 30, San Francisco labor and employment firm Liebert Cassidy Whitmore is also a tenant at 160 King Street.
Planned and executed building closures, global
space reduction plan, and
subleases of excess
space.
In 2012, the Nebraska Bar Association was sued over its actions in opposition to shared parenting, resulting in its dues being reduced, requiring the elimination
of staff,
subleasing of office
space and cutbacks in travel and elimination
of events.
The loss
of mandatory dues took a heavy toll on the bar association, requiring the elimination
of staff,
subleasing of office
space, cutbacks in travel and elimination
of events.
It doesn't help that the amount
of space listed for
sublease has climbed to 3.3 million square feet, the highest level since 2009.
The company is
subleasing a portion
of Ligan Pharmaceutical's
space in the building and has relocated from its
space in Edison.
The city's office - vacancy rate jumped in the second quarter by the most since the last recession, while the amount
of space available for
sublease almost doubled, according to a report to be released this week by brokerage Cushman & Wakefield Inc..
In San Francisco the amount
of subleasing up - ticked in 2016, as tenants sought to take those box
spaces at shorter lease terms — it's plug and play,» she notes.
Available
sublease space — which can be an indicator
of companies scaling back after growing too fast — jumped to almost 1.5 million square feet (139,000 square meters) in the second quarter from 822,000 square feet in the prior three months.
The corporate subsidiary enters into the lease agreement with the landlord and reserves the right to
sublease the
space to an approved franchisee, who is required to pay for the build - out
of the retail
space and the ongoing lease payments.
An overhang
of sublease and shadow
space will have the market struggling to absorb the overcapacity this year.
Most
of the available
space in this market involves
subleases with terms left on them.
There wasn't a lot
of that kind
of product, although some
space was
subleased.»
Citywide, available
sublease space increased over the quarter from 8.8 million SF to 9.0 million SF, or 3.8 %
of Houston's total office inventory.
Insurer to move to UBS Tower: Northwestern Mutual Life Insurance Co. is close to a deal to
sublease about 32,000 square feet
of former Citadel Investment Group LLC
space in UBS Tower, 1 N. Wacker Drive, sources said.
The deal would mean that Prime Group Realty Trust, which took over Citadel's lease in 2001, has
subleased about 78 percent
of Citadel's 161,000 - square - foot
space.
«There is a fairly heavy appetite to control the leases and
subleases of older
space.»
The downtown office vacancy rate came down to 17.2 percent at the end
of 2005 from 17.6 percent at midyear, and
sublease space is being absorbed despite the addition
of new buildings, Mattox said.
Farmington Hills, Michigan (November 30, 2017)-- Friedman Integrated Real Estate Solutions, one
of the nation's leading providers
of commercial real estate services, recently
subleased 235,137 SF
of industrial
space located at 2500 Enterprise Drive in Allen Park, Michigan.
When
sublease space is factored in, the overall suburban vacancy rate fell to 23 percent during the fourth quarter, still high but lower than the 23.6 percent rate
of the third quarter, or 24.8 percent a year ago.
But even the
sublease problem has an upside: «Tenants normally eyeing class B
space can get into class A
space, so they're upgrading,» says Lynn Schenk, 2001 vice president
of the Society
of Industrial and Office REALTORS.
The major threat to the sector at the close
of 2001 was
sublease space, which was hurting absorption and putting downward pressure on rental rates in some markets.
So suggests Evan Combs, a San Francisco - based adviser at Cresa, a corporate real estate advisory firm that helps tech startups land the right
space and which began to observe the increase in
subleased property in the third quarter
of last year.