A so-called 'second wave' of sublease availability is on the horizon was 2022 draws to a close, with a staggering percentage of such space being given back by tech firms.
"The tech sector has been the main driver of net new growth for landlords, but quickly changing dynamics are forcing many of those companies to return space in the form of subleases," according to Savills.
San Francisco has 79% of sublet space on the market given back by the tech sector the firm says, while Silicon Valley's stat stands at 69% and Austin clocks in at more than 44%.
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