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Discover LudwigThe word "sublease" is correct and usable in written English
It can be used to refer to an agreement in which permission is granted by a tenant to another individual or organization to use the rented property. For example, "The tenant agreed to sublease his apartment to another tenant."
Dictionary
sublease
noun
A lease on something made by someone who already leases it.
synonyms
Exact(60)
In November 1912, owing to British insistence that a buffer be created between French North Africa and Britain's strategic base at Gibraltar, the French granted Spain a protectorate "sublease" of 7,700 square miles (20,000 square km) along Morocco's Mediterranean coast.
He finds hunting areas controlled by élite Tanzanians, who sublease them to operators, mostly Asian and French, who sell off the lions, then abandon the empty hunting blocks and lease new ones.
She decided to invite the bunch of them to a cocktail party and, evidently, to award the sublease to the one who behaved best.
In recent years, several firms including Citigroup and Legg Mason have been retrenching and putting space up for sublease, Mr. Williams said.
"Landlords don't usually like the fact that sublease space rents for less, and tenants don't like that the leases offer little flexibility," said Moshe Sukenik, an executive vice president and principal at Newmark Knight Frank who represented Venable.
Brookfield recently converted a 175,000-square-foot sublease with Commerzbank and a 250,000-square-feet sublease with OppenheimerFunds at 2 World Financial Center into long-term direct leases.
"We had a great deal on the sublease space — it was roughly a 75 percent discount to the market rents because the term was so short," said Melanie Hughes, the chief human resources executive at Gilt Groupe.
During the last downturn, sublease space peaked at 45 percent of the overall available Class A space in Midtown in 2002.
The sublease had been arranged by the theater's former business associates, who have denied any mismanagement.
The decision, which was made on Friday, clears the way for the group managing the Thirty Meter Telescope project to negotiate a sublease for land with the University of Hawaii.
The Tampa government has paid $57,000 to sublease a lot, which will be open to protesters 24 hours a day, a few hundred feet from the convention center.
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