MOSCOW-Sub-leasing is not a new practice in the Moscow office marketbut it has seen massively increased activity over recent months ascurrent tenants attempt to minimise costs while new lessees enjoylower rents and flexible contract terms, according to JonesLang LaSalle.
Despite its novelty as a serious alternative to direct leasing,sub-leasing has now become an integral part of the Moscow officemarket, driven by the need for cost efficiencies as tenantscompensate for the expenses on temporarily unused premisesamid the current crisis.
Sub-leasing already displays its countercyclical nature, gaining popularity during a market downturn. Its introduction to Moscow removes one of the few remaining factors that used to set the Russian capital aside from developed cities. The speed of this change has accelerated the maturity of the Moscow market, which now offers a much broader set of options to landlords and tenants.
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