A new future for a veteran business.
client objectives and resultsSee more success stories
Emerson is a global technology, software, and engineering firm focused on creating a healthier, safer, and more sustainable world. Emerson’s Power and Water Solutions business, focused on power generation, water treatment, and wastewater treatment industries is headquartered in Pittsburgh, Pennsylvania and sought out the services of Cresa to evaluate their operations at their owned three-building campus and assist in identifying and executing upon a new space in the Pittsburgh market.
- Identified and evaluated several options within the Pittsburgh region.
- Led financial review and approval in conjunction with the business including soliciting approval from the Board of Directors given the financial commitment required.
- Led execution of the transaction through an extensive tri-party lease process including the use of a comprehensive service agreement with an existing tenant acting as service provider.
- Managed an RFP process and ultimately drove collaboration with multiple third-party vendors throughout the transaction process and beyond, including but not limited to architectural and engineering firms and construction managers.
- Consolidated from approximately 290,000 square feet across three buildings into one space less than half of the size, at just about 142,000 square feet.
- Upgraded into Class A space in a growing submarket within Pittsburgh, which better suited their growth and operations moving forward.
- Will allow for the sale of currently owned headquarter assets to offset cost of lease commitment moving forward.