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Case Study

Multiple locations equates to multiple opportunities

Jones Lang LaSalle was retained by GeoEngineers to provide lease administration and brokerage services for their corporate headquarters in Redmond, WA and various office locations across the country.

The goal was to review the individual leases, perform a detailed financial analysis on each site and identify potential opportunities for upcoming relocations or renewals. The ultimate objective was to identify a strategy to not only efficiently manage the lease portfolio, but also conduct successful negotiations across multiple markets that would result in cost savings.

There were several challenges, the first of which was to design a uniform system for analyzing and managing the existing leases that would work easily for the client. The second challenge was to successfully align the financial objectives of the corporate office and the wants and needs of the local offices, which often required collaboration with other brokerage firms in the respective markets, if there was a previous relationship in place.

JLL was able to respond quickly by tailoring several of their existing lease administration processes and designed a hybrid platform that met the client's needs. Through this new system several opportunities were identified early on in the process, which allowed for successful lease renewals in several markets. JLL assisted the client in conducting a comprehensive operating expense review for several of their locations, which helped to control costs even further. GeoEngineers has implemented a comprehensive and cost savings strategy that will allow them to successfully manage their lease portfolio for years to come.

Participating broker:

Mark Flippo
Managing Director
+1 425 974 4007
mark.flippo@am.jll.com

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