sublease

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sublease

The relationship created when a tenant rents some or all of its premises to another for some or all of the remaining term of the original tenant's lease. Technically, if the tenant transfers all of its interest, that is an assignment. If the tenant retains some of the space, or some of the time under the lease, that is a sublease. At all times, the tenant remains liable under its lease with the building owner.

References in periodicals archive ?
Overestimating its space needs because it expects to grow in the coming years, Health Plus subleased one of its two floors in the building to Motorola and real estate mortgage lender Countrywide Financial.
The issuer then leased the building to Overland Property investors LP (leasehold interest has been since sold to Southland-Overland Park Delaware Business Trust) which simultaneously subleased the property to Black & Veatch.
HIP relocated its offices to 55 Water Street nearly two years ago and has since subleased all of the 130,000 s/f it formerly occupied in the building.
Aon Corporation subleased 220,000 s/f from Wachovia last week at 199 Water Street, bumping the New York City Office of the Comptroller in the process.
The company also announced Thursday that it has subleased 47 percent of its Cherry Hill headquarters facility.
Aon, who REW first reported put 200,000 s/f of space at 55 East 52nd Street on the market in February, meanwhile, has subleased most if not the entirety of its space through CB Richard Ellis broker, Kenneth Rapp.