sublease

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sublease

n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. In any event, the original tenant (lessee) is still responsible for paying the rent to the owner (landlord/lessor) through the term of the original lease and sublease. (See: lease, rent)

sublease

verb allow the use of, demise, grant a deeise, grant a lease, hire, let out, make available for rent, rent, rent out, sublet, subrent, underlet

sublease

a lease of property made by a person who is himself a lessee or tenant of that property, or the act of granting or taking such a lease.

SUBLEASE. A lease by a tenant to another tenant of a part of the premises held by him; an underlease.

References in periodicals archive ?
* Tech tenants finalized sublease agreements an average of 8.8 months after a space was listed, while non-tech firms took nearly 2.5 months longer on average to acquire their space;
For many landlords, who have seen the phenomenon surge into a major market force over the past two years, the prevalence of sublease space is the equivalent of competition with an ongoing fire sale.
The dot-com bust has sent sublease markets soaring.
"I think that the tenant world has become very astute," Turchin said; instead of offering up the back office, tenants looking to sublease are now offering the most marketable space they can, and they're offering more appropriate terms and build-outs.
The sublease recognition, subordination and early termination provisions of the ground lease should be carefully reviewed to ensure that the Subtenant's rights are not extinguished upon termination of the ground lease.
Why was there such a vast increase in vacant sublease space?
Riguardi, president of the New York Region of Jones Lang LaSalle, said the sublease market would decline this year due to attrition, rather than new leasing activity--the type of sublease decline that will benefit the market.
According to Krasnow, the most significant impact on vacancy rates throughout 2003--in addition to the surge in subleases and renewals--was an influx of larger transactions.
Quinn Emanuel Urquhart and Geometry Group both signed for space on the 17th floor, with the term of the sublease expiring in slightly more than three years.
Exemplifying this trend, we have been marketing three floors of raw space at 535 Fifth Avenue for sublease. Recently we introduced the option to deliver the premises built according to tenants' specifications.
* Marketing and negotiations by the real estate broker to sublease the excess space or sell the surplus assets--This portion of the transaction allows the trade credit company to provide the goods and services to improve financial results.
Subleases, thus, fell 2% from June to September to 954,960 SF -- still 18% of all availability.