Call us today

Office Vacancy Rates Increasing in Central Texas

As the pandemic has caused more and more people to work from home, operations and facilities professionals are facing a new challenge: how to recycle office assets and furniture. Office furniture recycling involves removing and disposing of office equipment, furniture, and other physical assets that are no longer needed in a given space.

Decommissioning is not a new concept, but the pandemic has accelerated the need for it as many companies are downsizing or transitioning to fully remote work. This process is not limited to just physical assets either, as many companies are also decommissioning their office leases and real estate.

According to the same report, demand for office space in Austin ranked first in the US for office leasing activity between February 2020 and February 2023 with the biggest gains in Professional and Business Services (31.1%) and Information Services at 30.8%. Interestingly government office leases shrunk by 1.8% during the same period.

Companies struggle to find help recycling or disposing of office assets as used furniture market sags.

The process of decommissioning can be a complex one, and it is important to consider all factors before beginning. One of the primary considerations is the environmental impact of decommissioning. Many office assets contain hazardous materials that can harm the environment if not disposed of properly. Recycling or repurposing assets can help mitigate this impact. (C-Serv can help)

According to a 2021 report by MarketsandMarkets, the global asset disposition market is expected to grow from $11.8 billion in 2020 to $21.2 billion by 2025, at a compound annual growth rate of 12.4%. The report notes that the increasing adoption of technology and the need for secure data destruction are key drivers of this growth.

A 2020 survey by Deloitte found that 65% of surveyed organizations were planning to divest or exit a business, and 34% of those surveyed planned to divest or exit within the next two years. This highlights the importance of effective asset disposition strategies.

According to a 2019 report by TechTarget, the average lifespan of office furniture is 8-12 years, while electronics have a lifespan of 3-5 years. This means that companies may need to decommission assets more frequently than they may have anticipated.

Another report by Grand View Research found that the global e-waste management market size was valued at $49.82 billion in 2020 and is expected to grow at a compound annual growth rate of 14.1% from 2021 to 2028. The report notes that the increasing volume of electronic waste generated by the IT and telecom industries is driving the growth of the market.

These statistics demonstrate the importance of effective asset disposition strategies for companies looking to dispose of office assets and furniture. By carefully considering their options and ensuring secure data destruction and environmentally responsible disposal, companies can benefit both their bottom line and the wider community.

There are several options for disposing of office assets when they are no longer needed. One option is to donate them to a charity or non-profit organization. This not only benefits the community but also provides a tax write-off for the company. However, it is important to ensure that the charity or non-profit organization can use the assets, as donating items that are not needed can create a burden on the organization. C-Serv can help you identify organizations that may be a good fit.

Another option is to sell the assets through an auction or liquidation. This can be a good option for companies that need to recoup some of the costs associated with the assets.

Overall, decommissioning office assets is becoming an increasingly important task for operations and facilities professionals. As more and more people continue to work from home, companies will need to carefully consider their options for disposing of assets in a secure and environmentally responsible manner. By donating, selling, or properly disposing of assets, companies can help reduce waste and benefit both their bottom line and the wider community.

C-Serv has a wide variety of options when it comes to decommissioning, recycling, reconfiguring and installing office furniture systems in Central Texas.