Office Sublease Supply Nearing Highs of Last Recession

The supply of sublease space in the Manhattan office market has jumped 50 percent in the last 18 months, lurching ever closer to the sublease highs of the last recession, between 2001 and 2004, according to the latest numbers from commercial real estate brokerage Jones Lang LaSalle.

In fact, at the end of 2008, JLL reports that there were nearly 12 million square feet of available sublease space, four million of which were added to...

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