sublease

(redirected from subleases)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.

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 ?
Tech tenants finalized sublease agreements an average of 8.
The most frequent users of tower sublease space, according to Jones Lang LaSalle, are boutique hedge funds.
Problem subleases create issues for the sublessor; causing a domino effect for the landlord.
The Avenue of the Americas space also came on and off the market in a matter of months, Turchin said, an unusually quick turn-around for sublease space.
If the sublease term could extend beyond the then-current term of the ground lease, the Subtenant should insist upon verification that all options have been exercised and/or require the Fee Owner to accept an early exercise of such renewal rights.
Cox, President and Chief Executive Officer stated, "The sale of the oilfield subleases is the final step in changing the focus of Cox Technologies from crude oil operations to temperature recording and monitoring operations.
Rapp represented Aon in its downtown move and is handling the roughly 91,372 s/f of remaining space at 55 East 52nd Street that Aon is seeking to sublease.
Heading into 2000, the ratio of sublease space to overall vacant space ranged from seven to nine percent, and during the first quarter of 2000 the ratio climbed to ten percent, which was still considered an indicator of a healthy office market.
The simplicity of the Master Sublease agreement allows ART to reach out to the market to provide these types services.
Vivendi's subleases in the building are good until 2010, but Renaissance has committed past then, meaning it will have to pay direct rents eventually.
Under an agreement between Airbus and AIR 2 US (the Airbus Agreement), Airbus will cause the sublessors (Airbus subsidiaries) to monitor the sublessees (American and United), enforce rights under the subleases if the sublessees stop paying, and re-lease any repossessed aircraft.
Three companies inked sublease deals with ABN AMRO for space on the 16th floor.