Optimizing a Corporate Real Estate Portfolio Through Collaboration, Partnership and Value-Added Expertise

Client
  • Regional/Publicly Traded Bank
Space
  • sq. ft.
Industry
  • Financial Services
Locations
  • Portland
Services Provided
  • Transaction Management
  • Consulting
Cresa Team
  • Blake St. Onge
  • Michael Whitten

Client Objectives

  • Consider the collaboration and cross-pollination of a unique partnership enabling the internal CRE team to function as a world class organization, based upon a strategic vision with laser-focused tactical implementation
  • Consider an aligned partner that will provide complimentary resources, expertise and tools to help elevate the internal CRE organization, so that it, too, can be a strategic partner with its business leaders
  • Evaluate the CRE portfolio to identify optimization, consolidation and other strategic real estate opportunities to produce savings and future expense mitigation

Results

  • Dispositions: partnership negotiated the disposal of +/- 30 underutilized assets within the first 9 months of engagement, providing capital back into the organization
  • Transactions: Actively working on +/- 45 projects, including renewals, expansions, consolidations, disposals and new locations within the portfolio
  • Ongoing alignment of the entire RE portfolio
  • Real Estate expense mitigation and saving opportunities for the client 

We wanted to pursue a unique partnership that would provide world class CRE delivery and solutions for our organization, and Cresa has been an instrumental member to that partnership. We wanted a strategic partnership that that mirrored our reputation: distinguished, unique, creative, professional and high-quality. From the beginning, Cresa understood our business objectives and what we wanted to achieve. Thanks to the team, we’ve achieved a substantial portfolio optimization plan and are well on our way to ensuring that the portfolio adequately complements our business objectives. -- Michael Salas, Real Estate & Facilities Director

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