Dash says whether a tenant can get a big break on a sublease space depends a lot upon the size of the space, the credit of the prospective tenant and the financial depth of the landlord involved. On one hand, institutional landlords may look at their buildings that have only 2.5% vacancy and see no need to cut rates. On the other, a "mom-and-pops" may feel more pressure to fill a 50,000 sf vacancy and be willing to drop their asking rate, say 5%, for a tenant with good credit.
Not all space is created equal, however. "The majority of technical space has open floor plates for cubicles and flexibility," says Dash. "Law firms, for example, have a need for lots of separate offices and couldn't make good use of tech space without substantial (tenant improvements). A landlord is going to know that."
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