In what may be a cause-and-effect of the increasing adoption of hybrid work and flexible office use as the pandemic winds down, the availability of sublease office space increased in Q1 2022 at the same time that demand for sublease space was greater than it has been during a first quarter in six years.
According to a new report from CBRE, sublease availability increased by 3.6% in Q1 while the leasing of sublease space rose 60% YOY during the same period.
During the second half of 2021, sublease space nationally fell by 5.4% as some occupiers took advantage of economical pricing, CBRE said.
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