Need office space, but not too much? Take advantage of the glut of subleases now available nationwide to find just what you're looking for.
In Q1 2023, 19% of total office space was up for sublease. That amounted to 189 million square feet. By comparison, only 96 million square feet, or 13%, of sublease space was on the market at the same time in 2020, according to data from CBRE.
To add to the problem, around half of the 2023 space available for sublease was reported as vacant, bringing the overall office vacancy rate to 17.8%.
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