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Growing Supply in Office Sublease Market

The supply of sublease space grew in the second quarter, and it is expected to continue to rise as users move into smaller spaces.

By Kelsi Maree Borland | kelsimareeborland | Updated on July 28, 2017

Andrew Lustgarten Andrew Lustgarten is a corporate managing director at Savills Studley.

The supply of sublease space in on the rise. According to the second quarter report from Savills Studley, sublease space at midyear increase to 5 million square feet from 3.8 million square feet at midyear 2014. In 2009, sublease space had peaked at 8 million square feet before declining, and now it is again increasing. To find out why sublease office space is increasing and what this means for the office market, we sat down with Matt Brainard, office leasing expert, and Andrew Lustgarten, corporate managing director, for an exclusive interview.

GlobeSt.com: What is driving the increase in sublease office space?  Half of the available sublease space comes from co-working companies or a shared space situation within a larger firm’s footprint. 

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