This document outlines the terms under which the sublessee will rent the property from the sublessor, defining the dynamics of this unique legal relationship. What is a sublease agreement in NYC?What does a sublease contract look like? Refer to your Commercial Lease Agreement. Sublease: An agreement in which tenant leases property from another tenant (or "sublandlord") instead of from the landlord directly. A sublease or assignment clause gives the Tenant the option to sublease the space to another business if they run into financial difficulties. Find Clark, NJ commercial real estate for lease and sale on PropertyShark. Discover 15 properties including offices, retail, and industrial spaces. Here, we explain what a sublease is, and when subletting your commercial premises might offer a practical solution to a commercial issue.