Cresa Ottawa is helping clients reduce their operational costs by subleasing part of their office space, amidst the current situation. Many commercial tenants are rethinking the amount of office space they need, either because they’ve had to lay off part of their workforce, or they are learning that many of their staff members can do much of their work remotely and efficiently—or both.

For many tenants, we believe sublet space will be very appealing in today’s real estate market.

Construction costs have ballooned in the past 10 years – sublet space is generally ready-to-go, in many cases with relatively new office fit-up and network ready for a new tenant to simply attach servers and computer workstations. Avoiding some, most or all construction costs can save a fortune in real estate costs.
Furniture can be expensive – sublet space typically includes all furniture and will be available for greatly reduced costs. Again, this represents great savings for the incoming tenant.
Many tenants have some uncertainty about the economy their own growth over the long term, and accordingly may balk at signing 5 or 10-year leases. Sublet space is often shorter-term in length – (always something less than the original lease term) so a sublease can provide a solution that does not require a company to commit to a 5 to 10 year lease term!