Case Study: Provided domestic & international corporate real estate solutions

One Oxford Centre, Pittsburgh PA

I have worked with commercial real estate professionals around the world and Carrie is one of the best! She is objective, knowledgeable, responsive and works extremely hard for her clients. Carrie is the tenant advocate you want on your side.

Heinz MacSwain, Portfolio Manager, Corporate Real Estate Division Wachovia & Wells Fargo (US)

Wachovia & Wells Fargo (US)

Challenge

Wells Fargo (WF) is a bank holding company. With assets of $1.9 trillion at the end of 2016, it is the fourth-largest U.S. bank by global assets but has the largest U.S. lending footprint. As Wachovia purchased other companies and was subsequently acquired by Wells Fargo, the corporate real estate division turned to Carrie to help achieve an efficient real estate portfolio for its operations in Pittsburgh, Pennsylvania and London, England, including consolidations, expansions, contractions, renewals, and dispositions. Also in London, they turned to Carrie’s local team to help reduce the cost of dilapidations (commonly referred to as restorations in the United States).

Action

After fully understanding each of the corporate real estate issues Wells Fargo needed resolved, Carrie and her colleagues developed and pursued the best strategy to achieve a resolution that provided Wells Fargo with an efficient real estate portfolio that suited the needs of its growing operations as they continued to purchase companies.

Results

Pittsburgh, Pennsylvania & London England

  • Carrie & her colleagues negotiated $40,000,000 in leases
  • Acquisitions & dipositions
  • Dilapidations cost savings of more than $2,000,000
  • Consolidated and right sized offices
  • Renewed and relocated leases coming due
  • Subleased space after others tried and failed
  • Long term lease protections
  • Wells Fargo has enlisted Carrie and her colleagues multiple times to provide domestic & international CRE solutions

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+1 (412) 255- 3737
carrie@carrieholstead.com

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