Real simple

Most companies can effectively manage one or two or three facilities.
There are many legal, tax, rent, and maintenance issues to consider, but a few
properties in a single market can usually be
understood and administered well.

But what happens when you have 12 or
212 or 2,012 facilities? Unless your company specializes in real estate or wants to
make a significant, long-term investment in
a full-service, internal real estate department, the task of managing a growing list
of properties can be overwhelming. That’s
where corporate services step in to offer
dedicated, comprehensive real estate services to clients on an as-needed basis.

“Corporate real estate advisers focused
on servicing all of the real estate needs of
their clients,” says Robin Wherritt, senior
vice president with Cresa Partners Orange
County. Senior-level advisers like Robin
can work in as many as 450 national markets. “We work hard to insure our clients
receive the best result at the lowest possible cost while insuring each solution aligns
with our clients’ business plans.”

Smart Business spoke with Wherritt
about how corporate advisers make real
estate management effortless.

What is included in corporate real estate
services?

Corporate real estate services provided
by expert real estate advisers take the burden of real estate management off a company. These advisers do everything from
research, logistics and site selection in new
markets to analyzing and implementing a
competitive contract renewal process that
insures venders, such as electrical contractors, are in place nationwide.

Corporate services allow companies to
work with a professional who specializes
in real estate and understands their business. These advisers can streamline everything about real estate management so that
clients have a consistent experience and
know their entire real estate portfolio is
handled as effectively as possible.

What benefits do corporate services advisers
provide for businesses?

Numerous benefits result from bringing
corporate service professionals onto a real
estate management team. One of the
biggest benefits is a consistent, seamless,
comprehensive approach to real estate
that reduces costs and increases efficiency.

Legal documentation: Because corporate service professionals handle all of a
company’s real estate needs, the company
can enjoy the advantages of a streamlined
process. For instance, all of the documents
can be preset and pre-approved by the
internal legal and real estate departments.
That means companies don’t experience
delays due to constantly revising and re-approving items like sublease contracts,
requests for proposals, or letters of intent.

Strategic acquisition: Working with a
single source allows you to maximize your
strategic use of real estate and minimize
the amount of time you spend on the process. Corporate service advisers have an
intimate understanding of a company’s real
estate requirements and an extensive network of real estate contacts. When a client
wants to move into a new area, its corporate service adviser can effectively hire and
direct a local market specialist to find the
best options available. The local broker
offers area knowledge, and the corporate
service adviser makes sure that all of her clients’ needs and wants are included in
the package she presents.

Management analysis: Corporate services simplify real estate research and analysis, so that clients simply have to choose
from among the best options. Corporate
services have a comprehensive database of
information about the companies they
serve and the ability to research all different
types of service providers. That means that
corporate service advisers can help businesses implement corporate mandates.

How do advisers ensure a company’s real
estate portfolio meets its business objectives?

Corporate service advisers act as a one-stop real estate shop. Instead of having to
work with countless real estate professionals, companies go to their adviser with
their requirements, such square footage,
location and move date.

From that point, the adviser springs into
action, activating his extensive network of
local brokers. The adviser finds the best
alternatives, secures pertinent data and sets
up client site visits. The adviser then helps
the client interpret how the information
relates to her real estate business objectives.

If a client decides to purchase a space,
advisers handle all of the negotiation. Then
corporate services can then help businesses look at options for finishing out the
building, like alternatives for furniture
providers or contractors.

On a continuing basis, corporate real
estate advisers help companies confirm
that they are running efficient operations.
They will provide analysis and leadership
by helping to create corporate standards
focused on creating better space utilization
or creating standards associated with materials suppliers. They can also provide an
associated cost comparison analysis. Long
before a client’s lease expiration, a good
adviser will pro-actively analyze the market, confirm the client’s objectives, and
develop and implement a strategy that maximizes savings and landlord concessions.

ROBIN WHERRITT is senior vice president with Cresa Partners
Orange County. Reach her at [email protected] or
(949) 706-6631.