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Sublease Space Climbs Again Amid Falling Rents

AUSTIN-In the last two weeks, sublease space has grown by 30,000 sf to take the present total to 3.699 million sf in all product classes. The steadily climbing sector has pushed rent down across the board, with the average contract length dropping as well.

By Tim Green | Updated on June 17, 2002

AUSTIN-Advertised rents for several classes of sublease space and length of sublease contracts continue to drop as space availability once again increases, according to the June 15 Buls-Hodge Report.

Overall sublease space increased from 3.669 million sf to 3.699 million sf in June, a 30,000-sf increase despite reported leases of 79,000 sf, the report says. Mikes Buls, an Austin broker, compiles the report with input from brokers every two weeks.

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