10 Ways to Cut Office Spending

10 Ways to cut your office space spending:

1. Economic Development Incentives –
Don’t think these incentives are just for the big guys. Economic development incentives are created to encourage job growth. Companies as small as 25 employees can enjoy these benefits
as well.

2. Energy Savings –
Big money here, there are lots of incentives to choose from. Get a consultant, bring in the utility, you have a bevy of alternatives to
choose from, many will be paid for by the utility itself or the municipality.

3. Re-configure your space –
Odds are your space design is the result of years of shoehorning – putting desks in any available space, and back. A careful re-planning of your space and the furniture can result in10 ways to reduce office space spending
more efficient and smaller space and may also have a significant impact on corporate productivity.

4. Renegotiate your lease –
There are a multitude of reasons why your landlord would be willing to renegotiate your lease. Don’t just assume that since your lease doesn’t expire for a couple more years that you are “stuck”. That can’t be farther from the truth. Continue reading 10 Ways to Cut Office Spending

Real Estate Market Report – Quarter 4 2014

Of the roughly 65 million square feet of office space comprised of 905 office buildings, approximately 14.90% is available which is a slight increase from the previous quarter. Asking rental rates have decreased to an average of $24.21 over all office classes. The vacancy rate for the 163 million square feet of industrial space has decreased to 8.4%. Industrial rental rates currently average approximately $9.34/per square foot net which was $.20 higher than the previous quarter. Big Deals: Ruby Has, an e-commerce warehousing and fulfillment center, has signed a 10-year lease for 75,000SF of industrial space in Bayshore. North Shore-LIJ Health System has leased a 252,000SF office building in Manhasset. Steel Equities is redeveloping a 387,000SF building it purchased from Forest Labs.  Continue reading Real Estate Market Report – Quarter 4 2014