Cetera
Overview
Cetera Financial Group, a leading financial services company, managed a leased portfolio exceeding 550,000 square feet across 49 locations, with an annual occupancy expense of $17.3 million. Experiencing substantial growth in 2019, Cetera required a strategic real estate approach to streamline their national portfolio, optimize footprint, reduce costs, and implement a dynamic workplace strategy.
Challenge
Cetera needed to enhance real estate management and operational efficiency, reduce occupancy costs, and modernize their workplace environment to support a hybrid workforce. The main challenge was developing and implementing a systematic approach to achieve these goals across their extensive national portfolio.
Solution
Engaged as the exclusive national real estate provider, Vestian developed a multifaceted strategy to address Cetera’s complex portfolio challenges. We implemented a workplace strategy that exceeded targets, reducing square footage by over 40% and upgrading offices to facilitate a hybrid workforce. Our team deployed Vestian's VPortal to enhance data tracking and decision-making processes. We centralized transaction management, resulting in significant cost reductions through strategic lease negotiations. Our integrated project management team oversaw all buildouts and projects, ensuring consistency with a Vestian-developed Design Playbook that incorporated branding and other key elements. Through this comprehensive approach, Vestian successfully transformed Cetera's real estate portfolio, achieving a 60% footprint reduction and a $6 million decrease in annual expenses.
Key Services
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
