VIDEO: Putting the Boston Sublease Problem in Perspective
For those in the commercial real estate business, the early November headline from The Wall Street Journal was an ominous sign. “Corporate Tenants Dump Excess Office Space, Sending Shivers Through the Market,” it blared, confirming the fears of many.
While the sheer volume of sublease space that has hit the office market has grabbed headlines, the impact of this “cheaper” alternative versus direct landlord leases has not yet been realized. It is unlikely to be significant in the near term.
The future workplace is still being re-imagined, and it may be many months – or even years post-vaccine – for that future workplace to take advantage of the increase in quality options.
Senior Vice President, Marketing