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Office Space Tenants Are In A Cost Cutting Mode

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"Cost cutting is still going to be the highest priority" for corporate real estate in 2010, Peter Riguardi, president of Jones Lang LaSalle’s New York region, said in a webcast on office occupier trends Wednesday afternoon. That’s because economizing remains a watchword for many companies, and reducing real estate expenses--whether through blend-and-extend leases or outright shedding of space--represents low-hanging fruit.

Blending and extending, which has come back into favor in the current leasing market, will remain a big trend for the foreseeable future, Riguardi said. It’s one of many opportunities for tenants in these days of reduced rents and greater landlord concessions. The current climate also offers plenty of chances for upgrading the location and the space, and for using market leverage to enhance non-economic lease provisions.

Full Article: For Tenants, It’s About Shaving Costs

Another contributor to the problems to come in the Commercial Real Estate market.

Commercial Real Estate , Lease Negotiations , New York Office Space , Office Rental , Office Space , Office Space Negotiations , Office Vacancy Rate , Tenant Representation

1 response to “Office Space Tenants Are In A Cost Cutting Mode”

  1. Mike Jeckson Says:
    cost cutting is necessary in recession period but our executive suite center is well known for its office space and executive suites in Torrance and Los Angeles has started a new tradition of announcing Tenant of the month at the end of every month. By awarding tenant of the month our Office Center respects and honor long-term tenant for Executive Suites in Los Angeles and show them appreciation.