Naturally, you'd expect the biggest expense in corporate real estate to be rent, which it is. Expect about 30% of your CRE budget to go rent. The next 30% to depreciation.
But you might be surprised (if you're not in the business) that the next biggest expense category is utility cost at just under 10%, give or take. Property tax is around there, too. All the services required to make a corporate real estate portfolio suitable for 35,000 employees add up to about the same as property tax, historically.
Utility cost! So don't forget to turn off your lights!
Other ways to save money as a real estate tenant: Tenant's Advocate has several tips. Or try a lease audit.
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