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

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.

Collins Dictionary of Law © W.J. Stewart, 2006

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

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.

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References in periodicals archive ?

Garcia says that while sublessors often undersell face-market rates in Class A and B buildings by as much as 25 percent, potential sublease tenants must be willing to accept some compromises.

Space available: vacant space drives the sublease market. (Commercial Real estate)

Some courts have determined that, in enacting the surrender provision, Congress intended for property to revert immediately to the lessor upon rejection by the bankrupt sublessor, even in a subletting situation.(19) Other courts, relying on the applicable nonbankruptcy law provision, have held that the property rights of a sublessee are matters of nonbankruptcy law.(20) These courts have found that once the bankrupt sublessor's actions result in the rejection of a leased premise, sublessees can assert applicable nonbankruptcy law in state courts.(21) By applying the applicable nonbankruptcy law provision instead of the surrender provision, these jurisdictions hold that the rejection of a lease does not necessarily extinguish the rights of third-party sublessees to the lease.(22)

Rejection versus termination: a sublessee's rights in a lease rejected in a bankruptcy proceeding under 11 U.S.C. 365(d)(4)

Last minute information requests slow the process and anger tenants in their unfamiliar role as sublessor.

A primer for property managers: So your tenant wants to sublease?

* Brad Auerbach and Robert Hill represented sublessor ComScore in a 14,855 s/flease at 7 Penn Plaza with Cast & Crew Payroll LLC for part of the sixth floor.

LEASES

* Laurence Briody, Tim Freydberg and Manny Fitzgerald represented sublessor America Diabetes Association in a 6,000-square-foot lease at 333 Seventh Avenue with Beldin Brick Sales and Services, Inc.

NEW YORK

EVO Real Estate Group's Evan Lieberman, together with Michael Dylan of Inceptum, Inc., represented the subtenant and the sublessor.

EVO Real Estate Group closed sixteen Manhattan leases in the May-June period, raising the total number of deals for the first half of 2016 to 41

The sublessor's representative was Harlan Cygielman.

EVO Real Estate Group

Jeffrey Kilimnick and Robert Kluge of CBRE represented the sublessor, AH Schreiber.

EVO Real Estate Group

Winick Realty Group announced the company is exclusively marketing more than 10,000 s/f of Upper West Side retail space at 101 West End Avenue on behalf of the sublessor, former tenant Ethan Allen.

10,000 s/f retail space hits market

The sublessor, Huron Consulting, was represented by Lisa Kiell, managing director, and Douglas Neye, senior vice president, both with Jones Lang LaSalle.

Perry Ellis dances into 96,000 s/f at the Hippodrome

Sublessor Conde Nast was represented by Gregory Tosko, vice chairman; David Hollander, executive vice president; and Jason Frazier, vice president, with CB Richard Ellis Inc.

JLL helps reinsurance co. grow

Linda Montez-Loloy, Baguio clerk of court, sent the sheriffs to serve vacate notices to all sublessors of Camp John Hay Development Corp.