As the office market continues to eke out its recovery, the sector is still trying to dig out from under a sizable load of sublease space.
Nationally, the volume of sublease space has improved markedly since the peak of the recession. Compared to 2009, total sublet space available has fallen by more than 40 percent from a high of nearly 150 million sq. ft. to a current level of approximately 105 million sq. ft., according to Studley.
Yet sublease space has
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