Case Studies

 

Transaction Details

Client
Synarc

Property
7707 Gateway Boulevard

Transaction Size
50,500 square feet

Transaction Type
New Lease, Project Management

Industry

Savills Studley Completes Hardware Company HQ Relocation 4% Under Budget  

 

Client Situation

Synarc, a global medical imaging provider, was relocating from a 33,000-square-foot office in San Francisco to a 50,000 square feet space in Newark, CA. Driven by business growth and the need to expand their technological infrastructure, the company hired Studley’s (now Savills Studley) Project Management Services Group to analyze and then execute on the design, engineering, construction, and relocation to the new facility.

Consideration Analysis

To meet the aggressive schedule, Studley presented a single bench of regional professionals who managed and executed the project from inception to move-in, reflecting a streamlined and efficient process. The client had a complex technology requirement, and relied on Studley to conduct a detailed analysis to determine whether the new space in Newark, or a collocation, would be the most economical solution to support the company’s needs. Through this Studley-driven analysis, Synarc was able to make informed decisions based on defined financial metrics, which resulted in a decision to move their primary global technology equipment to a local collocation facility. By having the project management team involved in the development from its inception, we were able to outline and negotiate all considerations upfront, including documenting a scope of work and detailed construction schedule as an exhibit and lease attachment. Additionally, Studley created and successfully implemented its newly developed “Operation Sunshine” exhibit, which contractually obligates a general contractor to provide complete transparency into their actual costs, and those of the subcontractors for all trades. As a fiduciary to the client, this process provided for a completely auditable and defendable project, where the client was able to “see” where their dollars were being spent.

Result

Our integrated platform allowed for a seamless transition from project transaction to project management focus. The project team designed a near vertical set of milestones that wrung out all excesses, re-defined concurrent tasks and worked through an expedited design, entitlement, and construction timeline – based on a 24/7 commitment and trustworthy relationships. The project was completed a week early which allowed the client to focus on the critical relocation aspect, and also came in $238k or 4% under budget on a $5.7M project.

 

Meet the Team

Jeffrey Logan
Managing Director, Project Management Services

Jeff brings 27 years of development, construction and project management experience to his position. He oversees Savills Studley’s San Francisco Bay Area Project Management, Development and Consulting Group, providing services on a local, regional and national basis. Jeff’s skill set encompasses all aspects of the project process, including site evaluations, due diligence, entitlements, and design and construction of shell, rehab and retrofit projects as well as the full range of tenant and capital improvement work.

+1 415 617 9657

 

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