Friday, 12 March 2021 16:21

Commercial Real Estate Outsourcing: The New Normal

Depending on the size and scope of your business, you could operate in a few office spaces or dozens of locations. While it might be possible for someone on your internal team to manage a few properties, any more than that and it will interfere with their ability to complete day-to-day tasks. Managing a geographically diverse real estate portfolio requires an in-depth understanding of the complexities and nuances of each individual property. This can be challenging for even the most experienced real estate professionals. And often, many companies cannot house a team that's well-equipped to effectively manage all of their real estate holdings. Luckily, commercial real estate outsourcing is becoming more and more accessible.

What is commercial real estate outsourcing?

Commercial real estate outsourcing is just what it sounds like. Rather than hiring someone internally to manage your real estate, you will instead hire a company that functions as an extension of your team. They assist with everything involving your CRE, including things like strategic planning, lease administration, transaction management, office fit-outs, and facilities management.

Benefits of outsourcing a real estate team

1. More time to focus on core business operations

Managing a commercial real estate portfolio takes time, resources, and in-depth knowledge about both local and national real estate markets. When you take on these responsibilities—or assign them to someone on your team—that takes time and attention away from the core operations of your business. Hiring someone to take on those needs will free up your employee’s time, so they can focus on their other pressing priorities.

2. Save money and secure better leasing terms

Outsourcing a CRE team not only saves you time – it saves you money too. Their expertise can help you secure lower rental payments, more flexible leasing terms, and spaces that work for your team now and in the future.

3. Full-service offerings

By choosing to outsource your commercial real estate to third-party consultants, you’ll gain a lot more than just portfolio management and lease negotiation services. For example, here at Lavoro Consulting, we also assist with:

  • Relocation and Expansion - We'll help you secure a new office space that serves both your current and future needs at a price point within your budget
  • Downsizing and Surplus Disposition - We'll help develop and execute effective strategies for the disposition of surplus real estate assets
  • Facility Maintenance - We will source vendors, negotiate contracts, develop budgets, manage reconfigures, and serve as the property manager/landlord liaison
  • Acquisition Due Diligence - We will verify and audit any buildings, land, development properties, and potential investment properties for you
  • Property Reporting - We can assist with financial forecasting, portfolio management strategy, layout planning, scenario analysis, and more
  • Fit-Out and Project Management - This service includes management of contract negotiations, vendor relationships, construction management, interior design, and moving services

Learn more about commercial real estate outsourcing

If you think your business could benefit from CRE outsourcing, reach out to us today at Lavoro Consulting. With more than 20 years of experience in corporate real estate consulting and interior design, we're here to help make your space work for you.

Contact us today to learn more.