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Case Study

Centralized lease administration system brings telecommunications giant efficiency and savings

In need of reliable lease data, global reporting consistency and a concrete process to ensure timely rent payment, a telecommunications company recently selected Jones Lang LaSalle to provide lease administration services. Lease administration for the company’s 20-million-square-foot, 427-location-portfolio had previously been handled separately in each geographic region.

During the transition, each of the company’s leases was condensed into a format called an abstract, which contains only the most important information. All abstracts were uploaded onto web-based software. Accounting specialists ensure rents are paid on-time, and rent from sub-tenants is collected on-time. With Jones Lang LaSalle as its sole provider, the company now has constant access to all of its global lease information.

The entire global transition was completed within eight months. Within fifteen months, $2 million in savings had been identified. The company also had all of its global lease information organized and easy-to-reference in a single source.

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