Integrating Services to Improve Efficiencies:

Transaction Management & Project Management

To meet their commercial real estate needs, companies typically look for a brokerage firm that has strong Transaction Management (TM) services (including site selection and lease negotiation).  They also often seek Project Management (PM) services (including space assessments; test fits; oversight of architects, engineers, general contractors, and other vendors; move-in coordination; and negotiation of the tenant improvement allowances.  The problem, however, is that the provision of TM and PM services can be disjointed if they are not managed by the same firm.

For this reason, more tenants are turning to firms that provide integrated TM and PM.  The results?  Improved efficiencies and greater savings.

The benefits of integrated brokerage and Project Management include the following:

Improves communication.  With one team in place, including a dedicated Project Manager, the process is more seamless, and there is less margin for error.

Saves time.  This arrangement makes it easier to make deadlines, avoid duplication, and provide turnkey service.

Saves money.  While Project Management requires an upfront investment, the ultimate savings are typically considerable.  This is especially true with upfront PM services, which include space programming to "right-size" your space...and greatly reduce your occupancy costs.

When you look for a real estate advisory firm that provides these integrated services, consider the advantages of working with a tenant rep firm (one that only works for the tenant, not the landlord):

Greater accountability.  Non-biased tenant rep firms will advocate exclusively on your behalf to maximize the use of your space and help you do more with less.

No risks of conflicts.  Tenant rep firms will never be compromised when representing you at the negotiating table.  They are not beholden to the landlord, so you won't ever have to worry about potential conflicts of interest.

More value.  At every opportunity, tenant rep firms will pass along savings to you.

One thing to check on when you're evaluating prospective real estate firms is their ratio of Project Managers to brokers.  The higher the percentage, the more resources the firm can offer you.  Also, you will want to engage a firm that has a collaborative approach in working with you and putting your needs first.

Overall, you will find that outsourcing Project Management makes sense because you will have a dedicated specialist serving you, which will allow you to concentrate on your core business.  And when you hire a firm that integrates PM and brokerage, you receive all the benefits of one-stop shopping, helping to minimize disruption and maximize ROI.

For more information about Cresa's Transaction Management,

Project Management, and other corporate services, visit: