The Tampa Bay Area currently has a record 1,500,000 square feet of commercial office space available for sublease. Sublease space is usually offered at a discount to direct space. The shorter the term left on the sublease, the greater the discount as it is expensive and inconvenient to move. Many times the tenant leasing the space (Sublandlord) will provide the space fully furnished.
Subletting space can be a great option for early-stage high growth companies that have limited resources and cannot commit to a long-term lease. Commercial office landlords do not typically lease office space for less than three years. In tight markets and/or when substantial tenant improvements are required, a five-year lease is usually required. A shorter-term sublease is a great option for any company concerned that they may outgrow their space.
Subleases are also a great option for a company that wants to upgrade from Class C or B space to Class A space. The subtenant can get into a very nice space at a discount and then enter into a direct lease with the landlord when the sublease expires. Read more about the difference between an assignment and a sublease.
For a sampling of office spaces available for sublease in Tampa Bay click here. At Mobiliti CRE we focus 100% on representing tenants with office relocations, expansions, contractions, and subleases throughout Tampa Bay and the entire West Coast of Florida. We also assist businesses that are looking to purchase office, medical office, industrial, and retail space. Reach out to us for assistance with all of your Tampa Bay commercial real estate needs at (813)-300-2227 or email us at pam@mobiliticre.com
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