Sublease Space at a Glance:
A Growing Factor, but Far From Unprecedented

Robert Sammons • 2/18/2021

Sublease Space 2020 (image)

In the wake of the global economic and health disruption, occupiers remain cautious with major real estate decisions. This has continued to mean less overall leasing, more renewals, shorter terms (when possible), and strategic subleasing consideration of excess space. Though vaccines are being rolled out, there continues to be uncertainty primarily due to health concerns stalling long-term decisions by occupiers. 
Across the 83 North American markets tracked by Cushman & Wakefield, office sublease space increased by 80 percent during 2020. However, the rate of increase did slow in the fourth quarter compared to the third.  
In this sublease update through Q4 2020, we once again analyze the following:  

  • Where unneeded space is being shed  
  • How sublease space compares with past peaks  
  • How markets across the U.S., Canada and Mexico are stacking up  
  • How sublease space looks in the CBD vs. non-CBD markets 

Download the report. See sublease space by market.

Related Insights

XSF Part 3 (image)
Insights • Workplace

Return à la Carte! Choice Drives Employee Experience

It’s all about choice: People with the freedom to choose where they work outperform those without.
Bryan Berthold • 4/16/2021
Reimagining Office Space as a Service
Podcast • Workplace

Podcast: Reimagining Office Space as a Service

There is a fundamental misunderstanding that changes to how we work, post-pandemic, are merely an acceleration of trends that were already underway. Are we in fact witnessing the start of a revolution that will utterly transform the dynamics of the real estate industry?
Michael Creamer • 4/14/2021
SFBT Deals of the Year
Article • Insights

SAN FRANCISCO - SFBT Deal of the Year Awards

Cushman & Wakefield was the recipient and/or involved in several prestigious awards that were presented by the San Francisco Business Times at its 2021 “virtual” Real Estate Deals of the Year Awards on April 1.

Joshua Deale • 4/13/2021

Ready to talk?

We look forward to connecting with you.