By the Numbers
$8M in cost savings
27,000 square feet current office size
260 employees
The Customer
Leader in Real Estate Services and Investment Management
Colliers is a leading diversified professional services and investment management company with operations in 66 countries, managing more than 2 billion square feet of property. The company’s 18,000 professionals provide expert real estate and investment advice to clients across multiple asset classes including office, industrial, retail, multi-family, and alternatives.
The state of Texas has one of the top economies in the world, and the Colliers Dallas-Fort Worth office is committed to serving this vibrant, rapidly growing market.
Growth Brings Challenges and Opportunities
With over 60 brokers and over 200 staff covering brokerage, valuations, property management and administrative functions, the business was requesting more internal office space to keep up with growth.
Under consideration was a lease extension of the current space or relocation to a larger office, a move Colliers U.S. estimated would cost upwards of $8 million.
- The existing rentable square footage for the Dallas office was approximately 27,000 square feet, with a multi-year extension available
- Relocation would require a new office space build-out
“As a global leader in commercial real estate services, we take our commitment to our clients, our investors, and our people seriously. That means partnering with the best technology available, and Basking is at the top of that list—their real-time occupancy analytics takes the guesswork out of high-stakes portfolio management.”
Frank Blanton
Senior Vice President, Operations & Finance I U.S. & LATAM
THE SOLUTION
A Deeper Look
In the same way that Colliers professionals are encouraged to think outside the box to find the right solutions for their clients, the Colliers Strategy and Finance teams leveraged Basking’s real-time occupancy analytics data.
With the Basking application dashboard and customized reports, available across the Colliers portfolio, Colliers could readily derive analytical insights into peak occupancy usage, daily and weekly office usage patterns, and more.
Data Provides Actionable Insights
After reviewing the data for the Dallas office, Colliers was able to objectively determine that peak occupancy remained below full usage.
Combined with the office usage patterns, the team decided the space demand was manageable for the foreseeable future and they could focus on how the current space was allocated and resourced instead.
In addition to daily occupancy data, Basking is providing customized insights that dive deep into space utilization opportunities at a building, floor, and area level. Combined with “team level” usage patterns currently being piloted at several Colliers offices, this approach can be used to identify additional optimization opportunities for Dallas over the long run.
THE RESULTS
Digital Hubs: Concentrated Expertise
Colliers decided to extend their lease on the Dallas office by an additional 3 years instead of relocating to a larger office, thereby avoiding relocation and CAPEX costs of $8 million.
Where can Basking help you save?
The Basking analytics platform can be leveraged in a number of applications and organizational scenarios, with the flexibility to provide multiple analytical graphs, trends and insights, and customized reporting capabilities.
Fast to Deploy
No additional hardware, no setup time, no installation costs | API integration with existing WiFi infrastructure within minutes.
Highly Scalable
Basking can scale across tenants or locations very quickly, making it affordable and convenient at scale.
Privacy-Compliant
Private information is not collected; MAC addresses are pseudonymized.
