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The sublease supply in the Silicon Valley has continued to well through the start of the year. According to the first quarter office report from Colliers , the market’s sublease supply has increased 64% through April 2021, up 1.5 million square feet. Since March 2020, there have been 180 new subleases added to the market, creating a total of 248 subleases available.

In total, there is 3.9 million square feet of sublease supply on the market, according to the report. The supply has pushed sublease rates to $4.36, down year-over-year. The good news: the market share of sublease supply is declining from its peak in quarter 3 of 2020. In the first quarter, sublease space was 25% of the total office supply, down from approximately 26% in the third quarter 2020.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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