Austin Sublease Space: Meta Adds to the Mix

Meta Platforms Inc. has recently added to Austin’s sublease space, with nearly 590,000 square feet being put on the market last November and an additional 120,000 square feet being added last week. The company attributes this to remote work and recent layoffs in the area. Located at Sixth and Guadalupe, lease terms for these floors extend through July 2027 for some of them while others can go up until July 2029. On average most sublease spaces take about a year before they are filled; however Austin’s current inventory is much larger than what Meta is offering with 5.2 million square feet as of May 1st this year alone .