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Route 24 sublease space doubles from third quarter

  • ​The Route 24 Class A vacancy rate eclipsed 28.0 percent at year-end 2017 compared to less than 27.0 percent during the third quarter, in the wake of a rising tide of sublease space. The Class A vacancy rate had reached its highest level since mid-2016.

  • Approximately 287,400 square feet was marketed for sublease in the Route 24 Class A office market, which was more than double the volume of sublease space in the third quarter.

  • Contributing to this supply was an additional 61,280 square feet from PGIM at 7 Giralda Farms in Madison. Budd Larner PC and Asembia also placed blocks of sublease space onto the market in late 2017.​

Source: JLL Research​

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