Stay put or move? Xerox was looking for a partner who, at short notice, could help resolve this issue for its offices in Maastricht and Tilburg.
The challenge Xerox is a global American company that offers services and products in the areas of document reproduction and document management. The company sought CBRE’s advice in June 2016. The offices at Maastricht and Tilburg are branches of Conduent, Xerox’s process outsourcing company that provides services such as Customer Care. What was the company’s best course of action? Should it extend its leases on these offices, or should it consider looking for new locations? Were there any other alternative options? The project had to be completed by December 2016.
Our approach CBRE performed a complete stay-or-go analysis for both locations. A dedicated multidisciplinary team reviewed the existing leases and identified available alternative locations in the market. Given the tight deadlines involved, the team maintained intensive contact with the client, even outside office hours.
Implementation The stay-or-go analysis revealed that there were few, if any, alternative locations available for the offices, either in Maastricht or in Tilburg. Xerox was then able to switch to the fall-back scenarios that the multidisciplinary team had developed at an earlier stage in the project. CBRE acted as an advisor to Xerox during the ensuing, tough renegotiations, ensuring that the relationship between the tenant and the landlord remained intact.
Results Throughout the entire process, Xerox benefited from CBRE’s multidisciplinary approach. The negotiations for the new leases resulted in substantial savings for the client. In addition, this result was achieved in just five months – a very short period of time. Dedication, cooperation and an outstanding knowledge of the market were the ingredients for this success.