Sublease Space at a Glance: Pandemic Effects One Year In

Robert Sammons • 5/19/2021

Sublease Space 2020 (image)

The economy is beginning to open-up as vaccinations increase, and companies are setting firmer targets for workers to return to the office. During the second half of 2021, expect most companies to have workers back in the office at least part-time. As this plays out, companies will begin to have a clearer picture of how much space they will need over the next few years. 

The total amount of sublease space has now surpassed both the levels recorded during the Great Financial Crisis (GFC) and the Dot-Com Recession (DCR). Across the U.S. and Canada, sublease space accounted for 2.4% of total office inventory, up from 1.2% at the end of 2019. That is above the GFC (1.8% of inventory) but remains below the DCR (2.9%). 

In this report, we discuss: 

  • Why North American sublease space has nearly doubled during the pandemic;  
  • How it compares with previous sublease peaks; and 
  • Where markets across North America stack up. 

Download to learn more. 


Sublease Space (image)


Related Insights

US Office Leasing trends Q1 2021 (image)
Research • Office

U.S. Office Leasing Trends: What We Learned Q1 2021

Now that Q1 2021 is behind us and 44.4% of the U.S. population has received at least one dose of the COVID-19 vaccine, occupiers and investors are asking what's next for the U.S. office sector.
David Smith • 5/7/2021
Q1 2021 U.S. Office MarketBeat Snapshot
MarketBeat • Office

Office Reports

Cushman & Wakefield MarketBeat reports analyze quarterly commercial real estate activity including supply, demand and pricing trends.
Kenneth McCarthy • 4/15/2021
Corenet Survey
Insights • Workplace

Workplace Ecosystems: The Office’s Changing Place in an Agile World

Cushman & Wakefield partnered with CoreNet Global to survey its membership on the future of the workplace.
David Smith • 4/7/2021

Ready to talk?

We look forward to connecting with you.