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Facility Closures & Downsizings: HP Not Done Cutting CRE Costs

January 9, 2013
After announcing two years ago that it had “largely completed” its plan to reduce its real estate costs by consolidating into several hundred core real estate locations worldwide, Hewlett Packard Co. disclosed this past week that it had cut another 3 million square feet of space worldwide last year.

In its annual report filed Dec. 27, 2012, HP reported that it owned or leased 67 million square feet of space worldwide down from 70 million a year earlier.

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HP owns 45% of its space and leased the remaining 55%. Included in these amounts are 8 million square feet of vacated space, of which 2 million square feet is leased to non-HP interests.

HP core data centers, manufacturing plants, research and development facilities, and warehouse operations occupied 28 million square feet.

The space cutting may not be done. HP reported that it will continue to take real estate portfolio optimization actions.

At its peak in 2010, HP occupied 80 million square feet of space worldwide.

Additional Facility Closures & Downsizings



CompanyAddressCityStateClosure or LayoffLayoffsImpact Date


CH2M HillArtic Oilfield HotelNorth SlopeAKUnknown380Various


Evaluation Solutions12276 San Jose Blvd, Suite 521 and 4800 Spring Parkk Road, Suite 7JacksonvilleFLUnknown48Immediately


RailAmerica7411 Fullerton St., Suite 300JacksonvilleFLUnknown502/5/2013


Bostwick Laboratories7001 Lake Ellenor DriveOrlandoFLUnknown90Immediately


Steel Parts Manufacturing Inc801 Berryman PikeTiptonINClosure1733/14/2013


URS Corp.430 National Business Parkway, Suite 400Annapolis JunctionMDLayoffUnknown2/7/2013


Dura Automotive Systems5210 Industrial DriveMilanTNLayoff30Immediately


Omnicare of Northern Illinois407 Pilot Court, Suite 200WaukeshaWIClosure782/22/2013

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