Office Sublease Space Heads North in Dallas

DALLAS-Office sublease space is on the rise in Greater Dallas, but the early-on prognosis is the grand total won’t eclipse 2002 when it pushed above eight million sf. Nonetheless, market watchers are warily watching a steadily rising count, now hovering four million sf or roughly 2.3% of the total inventory.

And though it’s still early in the game, the consensus is sublease will rise through year’s end. “It’s hard to predict how high it will go, but I know it will go higher,” Matthew Heidelbaugh, senior director for Cushman & Wakefield of Texas Inc., tells GlobeSt.com.

C&W’s latest count shows 4.18 million sf of sublease space, of which 2.48 million sf are empty and 1.7 million sf are occupied while being marketed. One year ago, C&W’s researchers had logged 3.3 million sf of sublease space at the Q2 close.