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.
Sublease space in the city's top office sub-markets is now more than double the average inventory, with about 587,000 sq. ft. coming on - line monthly.
CoStar also measured a rise in
sublease space in the market.
«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.
Companies
subleasing space in the city include marquee tech companies like Dropbox, Twitter (TWTR), and Zenefits, as well as non-tech companies like Charles Schwab (SCHW).
Office spaces come in a variety of options, but
subleasing a space in someone else's office is -LSB-...]
Best Buy is considering
subleasing space in existing stores as one way to achieve the reduction.
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.
The
space is available immediately and can house about 1,400 employees, making it the single largest
sublease space available
in San Francisco, according to the San Francisco Business Times, which first reported the story.
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.
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.
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.
Espaillat said he is hoping to replicate the success Hudson Heights had this past June
in a similar situation, where Walgreens agreed to
sublease a
space for an Associated Supermarket, as DNAinfo New York previously reported.
Whether you are an attorney with an office
in a NYC law firm office
space sublease, or another office arrangement, you may be inadvertently overlooking high quality referral sources from other practice disciplines.
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 event
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 event
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 event
in its dues being reduced, requiring the elimination of staff,
subleasing of office
space and cutbacks
in travel and elimination of event
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.
«
Sublease space is offered at a discount, and that is putting a little dent
in rental rates,» said Jesse Gundersheim, a market economist with CoStar.
No new buildings are likely to be announced
in the short term due to the vacant
space created by tenants relocating to new buildings, as well as some large
sublease spaces that have come on line.
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.
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 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 note
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 note
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.
Total office vacancy
in Houston currently stands at 14.7 percent, including
space available for
sublease.
Most of the available
space in this market involves
subleases with terms left on them.
Retailers that signed leases at high prices
in the past several years and are seeking a tenant to
sublease their
space are also included, according to Steve Soutendijk, an executive director at Cushman.
The statistical software company, which had
subleased the
space, is Sears Tower's third key tenant renewal
in recent weeks, said Menahem Deitcher, senior vice president with CB Richard Ellis Inc., which manages the 110 - story building.
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.
Commercial Realtors should consider targeting their efforts toward
subleasing, particularly office and warehouse
space, as the opportunities
in these markets are expected to be more prevalent
in the coming months.
Sublease rate discounts are normally in the 15 per cent to 20 per cent range, but Krawitz reports that in Toronto, office space rents to head lessees are in the $ 28 to $ 30 per square foot range, and sublease space is about $ 16 to $ 18 per squa
Sublease rate discounts are normally
in the 15 per cent to 20 per cent range, but Krawitz reports that
in Toronto, office
space rents to head lessees are
in the $ 28 to $ 30 per square foot range, and
sublease space is about $ 16 to $ 18 per squa
sublease space is about $ 16 to $ 18 per square foot.
On the other hand,
in some cases
subleasing can be a mixed blessing for property owners who may find themselves competing to lease
space in their own building (s) at rental rates that are lower than anything they can offer.
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.
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.
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.