The task at hand will be to review the real estate strategy now supporting 34 leased locations in the US and three owned properties in Cleveland, Kansas City and Columbus, says Eric Beichler, the Mohr managing partner who acquired the assignment. It's still too early in the Staveley contract to say what locations will go, what will stay or what will get its lease terms renegotiated.
Beichler tells GlobeSt.com that the industrial sector is finally following the lead of others as corporate chiefs look to outsource real estate functions instead of relying upon the past practice of one-off transactions. Surplus real estate is on the climb as mergers and acquisitions increase in the steadily changing economic climate. "The trend we're clearly seeing is the CEOs are looking tighter at the real estate," he says of the need for cost-cutting measures in today's economy other than reduction in corporate travel.
Staveley, headquartered in Chicago, had been handling its US properties in house while its UK properties have been under the watchful eyes of Mohr's Keith Martindale in the London office. Mohr beat out three other companies on Staveley's short list for the US contract, which will be overseen by Paula Nodwell in Dallas.
Staveley Services was formed in 1998 as a wholly owned subsidiary of Guinness Peat, a New Zealand-based venture capital company. Its focus is testing and materials analysis.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.