Availability & Sublease Tracker | November 2024
- Market-wide sublease availability has declined for the fifth consecutive month, reaching 8.99 million square feet (MSF) in October 2024—the lowest level since August 2023.
- Sublease availability in buildings of 250,000 square feet or more has experienced the most significant decline, dropping 30.2% year-over-year.
- Overall availability (all building sizes) has seen a minimal month-over-month increase, primarily driven by a few small new construction groundbreakings.
- A substantial wave of speculative supply is expected to deliver over the next six months, followed by a decline in new deliveries and a tightening of available space.