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Renegotiating the rent comes more naturally to business

Tech businesses were apparently hip to haggling with their landlords months ago. According to a Jan. 16 CNET News.com article, "hundreds of executives in technology corridors around the United States are having chats with landlords to renegotiate leases," usually a company's second-biggest expense after salaries. In Silicon Valley, office-space vacancies grew from 2.8 percent to 13.5 percent last year, thus landing the cards in the hands of commercial tenants. This jump showed up in average tech rents, which shrunk from $4.28 per square foot at the end of 2000 to $1.96 per square foot at the end of 2001.

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From the January 31-February 6, 2002 issue of Metro, Silicon Valley's Weekly Newspaper.

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