DALLAS-RR Donnelley Global Real Estate Services, investing one year into the planning, is rolling out a specialty group to assess and process vital stats to underwrite deals for corporations and investment circles. The new line targets all types of commercial real estate, including cell phone towers and storage properties.
Robert Kramp, who headed Grubb & Ellis Co.'s client services until last year, will lead RR Donnelley's new equity division. In laying the groundwork, Kramp has hired a Dallas-based team of seven seasoned attorneys, all with real estate backgrounds in several commercial sectors. Corporate has dedicated 100 employees inside and outside the US to the equity initiative.
Within three years, Kramp says contracts should be in hand for at least 100 million sf. "That's a relatively conservative estimate," he says of an emerging business line with few competitors.
Like other divisions of the Chicago-based RR Donnelley & Sons Co., professionals from legal and CRE fields are on board worldwide to create a round-the-clock operating environment for mission-critical areas like lease abstractions, financial analyses and property accounting. "You will be able to have people do business and complete business on your behalf 24/7," Kramp explains to GlobeSt.com. "It doubles capacity and cuts production time in half."
Kramp says the plan isn't to replace corporate real estate teams, but rather augment them. "We will become an extension of that company's office," he adds. "It's not really outsourcing."
Kramp's team also will provide portfolio management, lease administration and on-line information portals for new archives or client-centric organizations. "The demand for information is growing exponentially. Those who have information accurately and quickly will have a huge advantage," he stresses.
The Atlanta-based RR Donnelley Global Real Estate Services historically has focused on commercial debt and the mortgage side of the industry from its offices in Dallas, Houston, New York City, Chicago and Salt Lake City. "We're bringing in Robert as our first step in a big push," says Greg Rose, vice president of marketing for the global real estate division. "We are going to make this a big push over the next 12 months."
The equity team's immediate business will come from corporations plus institutional and entrepreneurial investment groups. The long-range plan is to pitch the services to large brokerage houses. "That's going to evolve over the next 12 months," Kramp says.
"We are not removing jobs," Rose stresses. "What we find is we are supporting and providing greater leverage and resources."
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