In the wake of the global economic and health disruption, occupiers are being cautious with big real estate decisions. This means less overall leasing, more renewals, shorter terms (when possible), and consideration of strategic subleasing of excess space. Uncertainty related to the current health and economic climate is causing occupiers to limit long-term decisions.
However, across 83 North American markets tracked by Cushman & Wakefield, office sublease space increased by 53 percent in the first three quarters of 2020.
In this report, we address:
- 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
- Sublease space in the CBD vs. non-CBD markets
