Spikes in sublease space are occurring in metros from New York City to Chicago, Seattle, San Francisco and now, Boise. While retail, flex and industrial sublease space is being delivered to the market, much of the Boise MSA sublease space is located in office properties.
Primary drivers for sublease space include post-COVID-19 workspace reconfigurations and a changing economy which emphasizes digital delivery of services.
The newly available sublease options are offering companies searching for office space the opportunity to pick-up fully built-out space in prime office properties at competitive lease rates. Look for these shifts in the market to bring tenants interested in acquiring sublease space with attractive tenant improvement allowances and flexible lease terms.