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NEW YORK CITY-Having committed to reducing its office footprint by 1.2 million square feet over the next four years, the city can take a passel of lessons from corporate tenants, CresaPartners’ Bob Stella tells GlobeSt.com. “Corporations today are being more economically efficient when they’re taking on the space,” says Stella, EVP and principal at the tenant-rep firm.

By its own admission, the city has not exactly practiced optimal efficiency throughout the 19 million square feet its 75,000 office-using employees occupy citywide. “In 2009, the Mayor’s Office conducted an office space utilization survey of 50 agencies and found that there were over 8,000 vacant workstations scattered throughout the city’s office space,” according to a report the Bloomberg administration released Monday. “This represents approximately 11% of all desks and amounts to at least $13 million in annual costs.”

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