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Office Sublease Space Heads North in Dallas

DALLAS-Market watchers say it's too early in the climb to predict how high it will go, but it's not likely to beat 2002's high. It's now at four million sf or 2.3% of the inventory and climbing.

By Connie Gore | Updated on July 24, 2008

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.

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