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.

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For now, they are subleasing the space they don't need to AKQA.
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As a result, during an interim period before that space is needed, costs can be transferred to a third party by subleasing it.
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In December, JLL completed two other subleasing assignments at 335 Madison for ABN AMRO.
JLL fills 90,000 s/f at 335 Madison Avenue
So, Studley researched subleasing opportunities and was able to terminate the existing lease, provide the landlord with a current tenant willing to expand into NLI's space and then executed a sublease at well below market rent all at the same address.
Terminate-recapture lease deal
In addition, Jones will be subleasing approximately 50,000 square feet that it leases at its current location at 463 Seventh Avenue.
Jones keeps up with 83,000 s/f on Broadway

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