Is domestic outsourcing not as hot as a few years ago?

I haven’t historically posted about a specific organization, but after reading Susan Diesenhouse’s Chicago Tribune article, Lincolnshire office tower, once occupied by Hewitt Associates, up for sublease, I decided that it was noteworthy enough to mention.  It’s not every day that a firm vacates roughly 20% of its real estate portfolio, a whopping 400,000 square feet.  My curiosity led me to one of my favorite financial news sources, the mash-up known as Google Finance.  I wanted to see what the website and community were saying about this real estate situation.  Although nobody has mentioned it yet, I find it quite telling that there is an unanswered post related to unannounced layoffs at Hewitt.  It seems that the HR consulting and outsourcing firm likes to keep a low profile about their own HR concerns.

A few months back, I had been making calls out to David Kamen, real estate director at Hewitt, in the hopes of winning some of their business but found it difficult to arrange time with him.  I don’t mean to sound like sour grapes, but perhaps it was not a bad thing for me given their recent real estate surplus.  Sublets are a viable option for vacating extra space in a financially responsible way; however, given the market and the recent office construction announcements for the northern Chicago submarket, getting that space leased back up may require some substantial discounting on the part of Hewitt.


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