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.
With a new C-Suite team in place, Innocor was looking to better align its real estate portfolio with new corporate goals, starting with the relocation of its corporate HQ. The team was also looking to create national standards, delineate better policies and procedures, streamline processes and reduce overall costs.
Identify which of four Metropolitan Statistical Areas that client had significant operations in was best suited for the expansion project. One of the MSA’s under consideration was our client’s HQ “hometown.” Our client had 13 leased and owned locations within a tight geographic area of its HQ hometown.
While Synscort was happy with the location and amenities provided by its current headquarters location, they had significant concerns regarding costs, inadequate infrastructure, quality of work environment, inefficiencies due to having non-contiguous spaces within the building, regular power outages and lack of upkeep in the building’s common areas.
Initially, the company was simply looking to analyze their options on an upcoming lease expiration on one of five properties that were all located within a 2-mile radius.