Fortune 500-Dallas-TX
CLIENT Fortune 500 Company
LOCATION Dallas, TX (Irving Sub-Market)
SERVICES Brokerage
Lease Negotiations
Labor Analytic Research
Request for Proposals & Incentives
PROPERTY SIZE 57,000 SF Class “A” Office Space (2 transactions)
FINANCIAL BREAKDOWN Leased at 33% Cost Savings over 78 Months

ACCOUNT OVERVIEW

Damian McKinney and a dedicated team have managed the real estate needs for its Client, now a Fortune 500 Company, for nearly 3 decades. Operating as an outsourced real estate department and strategic partner, McKinney Advisory Group has advised the company from its humble beginnings in a 5,000 square foot office to its current portfolio of owned and leased assets accounting for almost 3 million square feet.

Combining a deep knowledge of our clients’ core business with the real estate knowledge of our local partners, we maintain a consistent selection process offering significant cost and time savings to clients. Focusing on the real estate portfolio as a whole, we work closely with client’s executive team to manage their short and long term growth plans consistent with the company’s vision.

 

CHALLENGE PRESENTED

Planning for the outcome of healthcare reform, McKinney worked closely with The Client to game-plan scenarios for growth or stabilization pending the final decisions in Washington. Having managed The Client’s real estate requirements in Texas from their first location to their present portfolio, McKinney was able to consider the properties as a whole and plan for future growth. Based upon expected increases to its subscriber base, The Client sought McKinney’s assistance in expanding its footprint in the surrounding Texas markets. McKinney’s recent assignment was to identify the most strategic headquarters location for The Client’s operations in the state.

 

SOLUTIONS

McKinney Advisory Group understands the healthcare industry’s real estate needs and requirements for growth. McKinney weighed the economic factors of each of the potential sites, creating an analysis of labor costs, rental rates, labor availability and cost of living.

Following our review, it was determined that best location and solution was to negotiate an expansion with The Client’s current landlord in Irving and to accommodate the move of the headquarters operations. Leveraging the competition created from its statewide search, McKinney was able to secure a competitive lease rate, rental abatement, and tenant improvement allowances. During build out of a new space The Client used a part of the building for their staff for additional overhead savings. In planning for the future, McKinney negotiated a right of first offer on the adjacent space in the building to allow for expansion.