LOS ANGELES-Of all office users surveyed for CBRE Group’s recently released Global Office Occupier Guide, 58% said that subleasing was common, including 100% of Americas-based users and 65% of EMEA-based users. Meanwhile, of the 37% of respondents who said subleasing was rare in their country, 70% were from Asia-Pacific.
“Leasing practices are somewhat unique to the countries themselves, and they’re driven by law,” Dr. Raymond Torto, CBRE’s global chief economist, tells GlobeSt.com. In addition to subleasing, the guide also revealed the Americas lead the pack in other leasing practices.
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| 67% of Americas-based office users reported increases in rental rates during lease terms, as opposed to 64% of EMEA-based users and 18% of Asia-Pacific-based users. |
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| 90% of countries surveyed said tenants’ right to break the lease was negotiable, but only Japan-based users said there was no penalty for breaking the lease at any time. |
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| Only 50% of those surveyed said transparency in leasing agreements was high; 70% of Asia-Pacific-based users, 60% of Americas-based users and 50% of EMEA-based users gave this response. |
**tables courtesy of George Relyea from CBRE’s New York office, a leader of this project
The complete Global Office Occupier Guide is available to clients and associates of CBRE via the web-based application, the CBRE iPhone app on iTunes or by contacting a CBRE professional.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
