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Class A office sublease space stabilizes in late 2017

  • ​Consolidations and relocations had released a steady supply of sublease space onto the Northern and Central New Jersey Class A office market during most of the past year.
  • By third quarter of 2017, more than 4.9 million square feet was marketed for sublease compared to 4.0 million square feet at year-end 2016.
  • However, the volume of sublease space inched less than 1.0 percent higher from the third quarter to 5.0 million square feet at year-end 2017.
  • As a result, sublease space continued to account for less than 20.0 percent of total Class A space in the state’s office market compared to a high-water mark of 40.0 percent of available space in 2002.​

Source: JLL Research





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