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To: yard_man who wrote (103155)	5/18/2001 10:18:52 AM
From: Ken98	Respond to of 436258

<<Wide open spaces High-tech and merging companies forgo some offices, flooding North Texas' sublease market with cut-rate deals 05/18/2001 By Steve Brown / The Dallas Morning News If everything weren't so neat, it would look like the office workers on the top floor of the One Hickory Centre building had just stepped out to lunch or gone home early for the weekend. But the rows of new furniture and office cubicles have never been used. Aperian, an Austin-based Internet company, leased and furnished the 25,000-square-foot top floor of the new Farmers Branch building in January, then decided against moving in. Now, the space is among the millions of square feet on the North Texas sublease market. Such space is often perfect for businesses that are hunting for a cut-rate office deal. The Aperian space is "state-of-the-art ... with vaulted ceilings and high-tech workstations," said broker Wayne Swearingen. "You could be in business there in a week." And more important, it's available "for 2 or 3 bucks per square foot below the market rate," Mr. Swearingen said. Such deals are becoming commonplace because of cutbacks at high-tech companies and corporate mergers and consolidations. Companies that just a year ago signed up for five-year leases now find themselves with no need for the space. The answer, usually, is to hire a broker to sublet the space. "We think there is at least 5 million square feet of sublease space in the Dallas market and probably more," said Paul Whitman, an executive vice president with Staubach Co. That total is equivalent to about five downtown skyscrapers, and "we think there will be even more sublease space coming on the market," Mr. Whitman said. The size of the sublease market was highlighted during the recent Boeing headquarters sweepstakes, brokers say. Dozens of offices – many of which brokers didn't even know were available – were offered to the aerospace company. >> dallasnews.com Of particular note is the fact that much of this sublease space does not show up on "official" vacancy reports.