Utility Engineering

Client Situation

Utility Engineering (UE) is an engineering firm that provides a variety of engineering, design, and management services to the electric power industry.  Headquartered in Denver, UE was recently purchased by the Zachary Group out of San Antonio, Texas.  The Zachary Group wanted to develop a strategic real estate plan for all of its offices across the U.S. and needed a real estate advisor who could evaluate each office and recommend a course of action for all of its holdings.

Consideration Analysis

Studley (now Savills Studley) was able to put together a strategic real estate plan for all of UE’s offices.  Each of UE’s offices were designed and built-out with no set of company standards and no sense of corporate identity.  Through Studley’s benchmarking the competition within the engineering arena, UE was able to implement a program that called for corporate standards that would be implemented across the country in each of UE’s offices.  This would allow UE to more effectively implement a strategic plan that was consistent.

Result

Studley was able to present a strategic plan that would allow UE to redesign not only UE’s actual space, but the way their employees interacted with each other internally.  Studley presented UE with a number of real estate options throughout Metro Denver that significantly improved not only the efficiency of UE’s real estate, but could save UE a considerable amount of money.  In the end, Studley restructured and extended UE’s headquarter location and was able to reduce UE’s real estate costs by $1.4 million dollars, as well as providing improved flexibility throughout UE’s lease.

Summary Information

  • Property: 1515 Arapahoe Street, Denver, CO
  • Transaction Size: 72,109 SF
  • Transaction Type: Headquarter Renewal, Lease Restructure, New Lease
  • Service Line: Office