Cisco required a local market expert to provide research, transaction and project management services to it’s Corporate Real Estate Director for an expansion of one of their Orange County divisions.
Armed with Cisco’s requirement criteria, Voit submitted detailed requests for proposals to every local building owner, creating strong competition for Cisco. After identifying a short list of properties, Voit used this leverage to create competitive negotiations with several owners. This resulted in a lease of a new “warm shell” building with sufficient tenant improvement allowance for Cisco to custom build its space from scratch, creating far greater space utilization and reduced occupancy costs compared to second-generation space.
Cisco expanded into a larger, more efficient facility at 62,000 square feet, reduced its operating costs per employee and outsourced the project management process to a local expert, saving valuable company time and money.