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Tailored Services Generate $131,000 in Savings.

Tailored Services Generate $131,000 in Savings

Lease Administration

Client: Architecture and structural engineering firm

Overview:
The client grew very fast from three offices to 30 and their real estate portfolio was managed by a real estate department consisting of one Facility Manager supported by the CFO and an administrative assistant. They worked exclusively with a brokerage firm that successfully addressed various business and real estate strategic objectives. On an operational level, however, the client found it challenging to implement the strategy due to lack of knowledge and critical dates administration of its growing portfolio. Additionally, the Facility Manager wanted to be able to create meaningful C-Suite reports that would provide portfolio metrics, benchmarks and facility occupancy milestones. MBG Consulting was brought on board to manage the lease administration function and institution process improvements.

Scope of services:
MBG Consulting recommended an affordable web-based software application that allowed managers to view their leases and rental obligations as well as print reports outlining the portfolio’s critical dates (location, size, term, options, critical dates, responsibilities, lease contacts, rents, etc.). The Facility Manager also provided MBG Consulting with human resources and occupancy data such as headcounts, number of workstations, private offices, and conference rooms. For each office, MBG tracked current, potential and absolute occupancy level which allowed the client and their broker to manage space utilization, chart meaningful trends, and plan in advance the growth of the company and related real estate activities.

MBG Consulting and the client gradually expanded our relationship to include lease audits and to develop more business- and real estate-driven metrics which the client considered the most important function of lease administration. MBG Consulting brought value by being flexible, offering low-cost solutions, and tailoring reporting outputs to meet the client’s unique critical reporting requirements.

Savings:
MBG Consulting saved the client $131,000 by offering low-cost lease administration software and by correcting various billing errors. We also delivered value by addressing the client’s specific reporting requirement needs in the facility management area.


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