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VIAD Corporation
Global Account Management Services | Phoenix, Arizona
Latitude Real Estate Advisors (LREA) provides international account management services for an approximate 6 million square foot portfolio on behalf of Viad, a S&P SmallCap company comprised of businesses that provide high-quality marketing and event services as well as travel and recreation services primarily in the United States and Canada. EG/GES are proud to produce many of the world’s most recognized exhibitions.
Approach
- Established “Playbook” of standard documents and processes that are utilized in every transaction including the following: project initiation forms, lease comparative/financial analysis, meeting dashboards, close-out documents, and appropriate technology platforms.
- LREA assists Viad in Acquisition/Dispositions, Site Selection, Market Analysis, Relocation & Consolidations, Market Analysis, Lease Negotiation & Renewals, Project Management, Property Tax Abatement & Reduction, Lease Review & CAM Audits, Build-to-Suit Planning, Property Management, and Demographic Analysis.
- Extensive negotiations occur on every transaction to ensure that Viad’s business objectives are reflected in their real estate portfolio’s make-up, leasehold documentation, and overall lease flexibility.
Results
- LREA in partnership with Viad’s in-house real estate team crafted the Playbook to Viad’s specific needs which has successfully streamlined the overall process both saving time and allowed the unified LREA/Viad team to be consistent in their methodology and flexible in their management, providing Viad Corporation with strategic solutions as the company’s needs continue to evolve.
- Throughout our long-term relationship with Viad Corporation, LREA has implemented continuous strategic planning within the daily management of the account by way of utilizing best practicing/benchmarking which has effectuated overall savings on every transaction negotiated.
- The rental rate in every lease renewal that the LREA/Viad Account team has negotiated has been lower than the prescribed renewal rate that was written in the lease. Additionally, the net effective rate has been lower than the market rates for tenants in comparable buildings.
