Tuesday, 15 June 2021 12:09

Should You Hire a Commercial Real Estate Portfolio Manager?

If your business operates out of multiple offices, you have a choice to make: hire a commercial real estate portfolio manager or manage the properties yourself? If you have a relatively limited portfolio and infrequent, one-off CRE projects, it may be tempting to try to cut costs and manage the portfolio yourself. But before you make a decision, it’s important to understand just how much value a CRE portfolio manager can bring.

What does a commercial real estate portfolio manager do?

A commercial real estate portfolio manager essentially provides consulting services in every area of commercial real estate. They essentially function as an extension of your team, but rather than working in-house, they are outsourced. A portfolio manager is in charge of analyzing the performance of your portfolio and making your real estate space work for you and your team.

Here at Lavoro Consulting, we provide a wide range of services as part of our portfolio management offerings. These include:

  • Strategic Planning - Portfolio strategy and management, scenario analysis, space planning, stakeholder collaboration, and restack management.
  • Transaction Management - Site selection, tenant representation, site acquisition/disposition, due diligence, and lease negotiating services.
  • Lease Administration - Lease restructuring, lease amendments, lease renewals, occupancy cost analysis, operating expense/CAM reviews, and critical date monitoring.
  • Office Fit-Outs - Interior design, construction management, move management, budgeting, scheduling, contract negotiating, vendor management, and commercial moving services
  • Facilities Management - Contract negotiations, vendor management, facilities budget planning, and landlord/property manager liaison services.

Benefits of hiring a portfolio manager

While hiring a portfolio manager will add an additional expense to your CRE budget, it can actually end up being more cost-effective. Here’s why.

  • Significant cost savings - Through strategic planning, successful negotiations, market knowledge, and budgeting, portfolio managers can help you achieve cost savings that far outweigh consulting fees
  • Access to offline listings - A corporate real estate portfolio manager will have access to more listings than what’s available to the public, ensuring you find the perfect space for your needs
  • Office designs that enhance productivity and workplace wellness - The design of your office has a huge impact on employee productivity and their overall wellness. Portfolio managers will not only find you the perfect space, but they’ll also assist with office design and layout to foster a workplace environment that allows employees to be the best versions of themselves
  • Allows your team to focus on core responsibilities - Having team members try to handle real estate holdings on top of their primary job responsibilities can make it difficult for them to manage their daily tasks. Hiring a professional consultant can free up that time for them so they can focus on their core responsibilities.

Work with a top real estate portfolio manager today

If you’re interested in working with a top commercial real estate portfolio manager, reach out to us today at Lavoro Consulting. Dedra, the brains behind Lavoro, has leveraged her unique background of interior design and international real estate to manage portfolios in excess of 600,000 SF with budgets of $25M+.

Contact us today to learn how Lavoro can support your CRE needs.