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HP Consolidating 'Several Hundred' Locations

SAN FRANCISCO-The locally based public company says the streamlining effort will occur over four years and will include upgrades to the properties that will be kept. The company controls 65 million sf worldwide.

By Brian K. Miller | Updated on July 06, 2006

(To read more on the industrial market, click here.)

SAN FRANCISCO-Hewlett Packard will consolidate several hundred locations into fewer core sites as part of a four-year plan to reduce real estate costs. The plan includes relinquishing floor space within certain leased facilities and closing certain sites or floors in locations that it owns.

All told, the company owns or leases about 65 million sf worldwide, according to its latest annual report. Company officials said Thursday that plans are not yet finalized as to which facilities will be vacated. A company source tells GlobeSt.com that no decisions have been made with regard to the subletting or sale of leased or owned buildings.

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