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The competitive business environment has forced organizations to rethink their real estate portfolios and operating models to help improve footprints and enhance location decisions. As a result, companies are able to streamline operations and help increase sales potential, attract and retain top talent, and improve workforce productivity.
This holistic approach demands a transformative process that requires adept management, often highlighting significant inefficiencies in the real estate portfolio that can result in a competitive disadvantage.
Real estate strategy and transformation services are a core competency of PwC. Our team of over 100 PwC professionals has extensive experience helping organizations formulate an approach that is aligned with their overarching strategy, with special consideration given to the intersections of people, technology, and their built environment. We support our clients from strategy to execution—through each phase of the real estate life cycle.
Is your goal to...
We can help you reduce ongoing real estate costs to reinvest in your business. With real estate costs often being one of the largest costs for an organization, it is a strategic asset that can be leveraged to control opex, develop talent strategy, and help meet ESG goals.
A successful real estate strategy can reduce your occupancy costs, helping you free up dollars to reinvest into other parts of your business. PwC has helped our clients achieve potential cost avoidance, savings or adjustment through the following levers:
Exit Excess Office Space
- Rightsize office footprint based on current ways of working
- Implementing desk hoteling
- Implementing flex concepts/co-working
- Increasing utilization of existing space
Improve Service Levels
- Frequency and intensity
- Hours and scheduling
- Response time
- Preventive vs. reactive
- Substitution
Real Estate Operating Model
- Centralized vs. decentralized models
- Removing redundant roles and activities
- Analyze spans and layers
- Evaluate technology choices or leverage technical capabilities of service provider
- Aggregating services to a single provider
- Reduce inhouse team to essential only strategic and integrator roles
Restructure Vendor Contractors
- Comprehensive Facility Management biding
- Lease benchmarking
- Optimized supply chain
- Performance based fees
- YOY improvement plans
- Review KPIs
Enhance Capital Project Process
- Contract strategy and risk allocation
- Competitive procurement
- Robust scope and change management
- Real time cost analysis and recovery
- Forward looking cost, schedule and risk controls
- Integrated project technology
How we can help
We start by asking “where?”
Our location intelligence professionals can add geospatial science to the data and analytics equation. We use information and help create understanding in ways that aren’t often possible with traditional analytical frameworks and methods.
What is “geospatial?”
Spatial information is data associated with a specific geography. This capability—relating data with a place—helps unlock powerful insights.
Our team has helped hundreds of organizations make difficult location decisions—from moving the corporate headquarters, to paring down retail stores, to opening new manufacturing facilities in light of the energy transition, and much more. We have the industry-leading knowledge to help you navigate high-stakes location decisions with the clarity and confidence required to help attain management and ownership buy-in.
Our Location Strategy Tool
An optimal location strategy allows a company to help deliver cost-effective outcomes, to attract and retain talent and to deliver a company’s strategic vision. Making a well thought out decision rooted in quantifiable methods and integrated with relevant, accurate data can be difficult and time consuming.
Combining PwC’s industry-leading services with our tech-enabled asset location strategy tool has a proven methodology, sustainability criteria, and location strategy knowledge. We can help bring structure and order to a traditionally complex decision making process.
We can help you transform real estate into a strategic asset to grow employee engagement and provide insights on talent.
Your workplace can be an opportunity to show your employees you are listening…
83% of office workers want to work from home at least one day a week, and half of employers (55%) anticipate that most of their workers will do so long after COVID-19 is not a concern.
80% of respondents say their organization’s culture must evolve in the next five years for their company to succeed, grow, and retain the best people.
Based on our experience, we understand that your workplace strategy can be a key talent attraction and retention asset. Your workplace can also act as the physical manifestation of your culture, becoming both a “people and technology” conversation as much as it is a facilities issue.
Our workplace solutions
We can help organizations answer a myriad of questions related to the workplace, workforce, and technology so you can develop a clearer vision for tomorrow.
Workplace
- How flexible and versatile is your space?
- In an increasingly virtual world, how can you rationalize real estate as a business essential expense?
- How can you determine what locations are critical to your presence? Do they help support your future, or are they anchors to your past?
- How should the workplace change to enable new ways of working?
- How can you help create an environment of innovation and organizational commitment?
Workforce
- How can you evolve your culture, and help build on your cultural strengths?
- What new skills and behaviors can help guide you forward?
- What are the needs, preferences, and motivations of your employees?
- What benefit and performance policies should likely be updated?
- How can you help create community, foster collaboration and commitment, and enable your leaders to lead differently, in a hybrid work world?
Technology
- How can you enable the mobility and the freedom of choice to work when and how you like, while also helping protect your business?
- What technologies will likely be required to enable mobility, efficiency, and security? How can your clients and business partners engage with you more seamlessly?
How we can help
Your ESG and real estate operational goals converge. Building owners and investors can reduce buildings’ energy consumption and emissions in parallel. We have helped our clients achieve a reduction in energy use, which has helped reduce operating costs, meet investors requirements, and create a healthier workplace environment.
Real estate’s impact on the environment is clear
Our integrated team of real estate occupier, investment, energy management, and sustainability professionals can:
- Help your organization achieve its real estate environmental and sustainability goals
- Create measurable ROI such as:
- 25% reduction in energy costs saves companies $500k/million sq. ft. of real estate¹
- Conformity with Greenhouse Gas (“GHG”) reporting and platforms such as Science Based Targets initiative (“SBTi”), Global ESG Benchmark for Real Assets (“GRESB”) etc. and regulatory disclosures
- Create a healthier environment for your employees
Sources
1. Davies, Michael. What Is The Average Utility Cost Per Square Foot Of Commercial Property? July 30, 2019.
Our decarbonization approach
An asset or portfolio level ESG strategy across real estate could be a multistep process. We can help you build a custom approach incorporating the following levers and help you meet your ESG and decarbonization goals across real estate.
We can help achieve these goals through multiple workstreams
Strategy development
- Develop ESG strategies, goals, and playbooks
- Identify sustainable design and wellness opportunities
Regulatory & Reporting
- Help meet compliance and regulatory requirements
- Help design reporting processes
Decarbonization
- Identify energy savings opportunities through benchmarking and data analytics
- Analyze Scope 1,2,3 emissions impacts
Expansion Due Diligence
- Help define and assess due diligence criteria for new site or building acquisitions
- Integrate ESG criteria into real estate investment decisions
- Select sustainable sites for new locations
Improve Energy Management
- Monitoring & benchmarking energy performance
- Improving HVAC operations & maintenance practices
- Implementing fault detection & diagnosis systems
How we can help
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Contact us
Principal, Financial Markets & Real Estate, PwC US
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