THE CLIENT
A FORTUNE 500 COMPANY engaged The Acclaim Group to assist with a complex corporate acquisition assessment and subsequent office consolidation project.
THE NEED
Our client acquired a company headquartered in Charlotte, NC, with 8 domestic offices across the U.S. The acquired company had a dramatically different culture and space utilization metrics from those of our client. Acclaim was engaged under strict confidentiality, during the acquisition due diligence process, to assess the value and opportunity associated with the acquisition target’s portfolio of leased real estate. Initial goals were to:
THE APPROACH
Given the nature of the acquisition, The Acclaim Group approached this project with a primary focus on effectively bringing together two very different corporate cultures while driving cost savings, efficiency and collaboration. Our integrated team of experts employed a wholistic approach that included:
THE RESULTS
The combined client entity had three office leases expiring within a 22 month period. Two of the locations were held under subleases from different entities. This significantly complicated the ability to extend short term to align expiration and occupancy dates. As a result, Acclaim Group led a staged occupancy of the various business units into one, highly efficient, new location. Three of the remaining remote satellite offices, of the acquired company, were also consolidated into our client’s local offices with no/minimal added lease costs.
