Office Sublease Index Shows Slight Decline

The NAI Partners Sublease Index decreased 10 basis points to 15.2% in July 2018. The office Sublease Index is measured by the amount of sublease space available in Houston, as a percentage of total available space. According to NAI Partners analysts, the space currently being marketed for sublease represents 9.3 million square feet of the 61.6 million-square-foot total available.

Other interesting sublease facts include the following.

Class A sublease available space represented 20.8% — or 7.7 million square feet – of the 37.2 million square feet of the total space available.

Meanwhile, Class B available sublease space accounted for 7.3% — 1.6 million square feet – of the 21.9 million square feet available.

The submarket with the largest amount of available sublease space is the Energy Corridor, at 2.2 million square feet.

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