Middle Market Digest-The Midwest

BY THE NUMBERS

CHICAGO—In the third quarter of 2016, the sublease market in Chicago’s CBD increased by 295,991 square feet, bringing the total amount of available sublease space up to 4.12 million square feet, according to a new report from MBRE. Although this is the first time there has been more than four million square feet of sublease space on the market since 2009, the company says a closer look at the data indicates that the current supply is not alarmingly high in comparison to past market cycles. In 2001, for example, the amount of sublease space spiked to 6.16 million square feet after the dot-com collapse and 9/11. And the inventory contained more than four million square feet for the next three years.