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BOSTON-The city’s teetering office market takes another hit as Fidelity Investments prepares to put another 170,000-sf up for sublease. The move comes as the company announced that it is about to lay off another 1,700 employees.

An industry source tells GlobeSt.com the huge investment firm will be looking to sublet space at 53 State St. This space will join the 250,000-sf at 99 High St. that Fidelity wants to sublease as well as the 170,000-sf it is looking to sublet at 260 Franklin St.

Vin Laporchio would not comment on the details of Fidelity’s real estate, telling GlobeSt.com that Fidelity “certainly has had conversations with [building owners] about future needs for space.” Laporchio points out that Fidelity currently owns or leases approximately 5.6 million sf in the state–up from 3.3 million sf in 1995. “This is all part of the market cycle,” he adds.

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