Finding the ideal office space is time-consuming and costly. If you’re faced with a situation where you need to find space quickly, don’t overlook subleasing. A sublease may be the perfect short-term option and may well turn out to be a longer term solution. Listed below are several advantages to sub leasing office space.
- Sub leases are Short-Term – One major benefit of a sublease is that it’s generally a short-term lease. This allows a company the flexibility of moving somewhere but not committing themselves long-term until they have a better handle on whether the amount of space, the location, the amenities,etc., works overall for their firm.
- Subleases are Customarily Below Market Rate – When a tenant has to vacate office space it could be the result of upsizing, downsizing, relocation or consolidation. The reasons why vary but regardless, the tenant is generally willing to aggressively price the space to get it off their books.
- Subleases are Often Furnished – If furniture is left behind by the previous tenant, it allows the sublessees the benefit of a pre-furnished, ‘plug and play’ office. This amounts to big savings for the subtenant as well as a quick occupancy.
- Subleases Allow For Flexibility – Once your sublease agreement expires you’re under no obligation to stay. However, if you decide the office space works for you longer term you can negotiate and sign a direct lease with the landlord. Importantly, even if your company is somewhat familiar with the market and rental negotiations, you will best be served by engaging an experienced commercial real estate advisory firm whose job it is to represent your best interests and help negotiate the best deal the market will bear. Consider engaging howardcommercial
If you happen to be reading this blog from St. Louis, MO, I have such an opportunity. A client of mine has recently decided to sublease their corporate office. Located in CityPlace, St. Louis’ premier suburban office campus, the space contains 15,231 SF, includes furniture and offers a “plug-and-play” solution. The primary lease runs through 2/28/19. For more information click here