5 Ways to Reduce Facility Costs in a Down Real Estate Market

By: Kenneth King

Commercial real estate prices have had plenty of ups and downs in recent years. Wherever you're located, it's likely that the landscape has changed plenty since you signed your office lease, so here are some actions to consider to get your costs in line with the market.

Currently, many organizations that rent their office space are exploring ways to reduce their annual facility costs in a down commercial real estate market. With high vacancy rates (4 to 18 percent throughout the Washington, DC, region, for example) coupled with a sluggish economy, many companies with as much as five years remaining on their leases are re-evaluating their strategic real estate plan....