sublease

In 2017, about $23 million came from a Queen Mary reserve fund and bond issue from the Queen Mary’s Carnival sublease.

Meta, the parent company of Facebook, for example, is attempting to sublease entire new buildings that it had intended to occupy at the Spring District, a created neighborhood with shops and apartments near downtown.

About 14% of office space is empty or available for sublease across the Puget Sound region, including Seattle, Tacoma and the Eastside, the highest share since 2010.

As Meta tries to sublease its space in the Spring Direct, it is facing challenging office-leasing conditions across the Seattle area, which might mean office space could remain unoccupied.

Earlier this year, the developer completed the 330,000-square-foot Block 6 building, which Meta spokesperson Tracy Clayton confirmed the company is trying to sublease.