Possible to condense a part file size?

Highlights of a long story not told:

Old vault crashed (last year)

Recovered 60% through email and vendor submittals as we needed the files

[For a specific part] We were able to find the finished machine part but not the casting

[For same specific part} Vendor was able to send me a part file for the casting - I am assuming we sent to him as a STEP file originally

Now for the question...

The finished casting part has a file size of just over 10 mb. The casting has a file size of just over 110 mb (see below):

**500-008 is the casting

**500-008-CM is the finished machine part

Is there a way that I can condense the file size of the casting? While there really shouldn't be, I do see quite a bit of lag between working on the two simultaneously (two screens with both files open). I am hoping that by condensing the cast part, I can speed up the process.

SolidworksGeneral