Tag: Commercial Real Estate

Amazon (NASDAQ:AMZN) is looking to reduce its office vacancy rate and save $1.3 billion in the process by letting leases expire, negotiating early terminations, and discontinuing the use of certain floors of its existing offices, Business Insider (BI) reported, citing a source familiar with the matter and internal documents obtained by BI. This news comes at a time when the company is in the process of saving $1.3 billion in this process. This announcement comes at a time when the commercial real estate market has been hard hit over the past few years. The commercial real estate market has been hit hard over the past few years.