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Corporate Real Estate

 

Through a comprehensive service model and integrated approach, TaxBud
helps clients identify and negotiate numerous cost saving opportunities.

Overview

TaxBud’s Corporate Real Estate Advisory Services team combines the resources and experience of top professionals in portfolio strategy, site selection and incentives, lease escalation and utility audits, and construction oversight to provide a comprehensive suite of real estate-focused savings opportunities.

Our seamless integration of these capabilities allows us to provide holistic, end-to-end solutions that drive efficiencies and client cost savings. At each step in the process, our team works collaboratively to uncover overlooked savings opportunities and to provide our clients with the guidance necessary to monetize all available benefits.

TaxBud’s Corporate Real Estate professionals focus on the following service areas:

  • Portfolio Strategy

  • Site Selection and Incentives

  • Lease Audit and Advisory

  • Construction Audit and Advisory

     

    Portfolio Strategy

    Identifying the right opportunities.

    Real estate and facilities management continues to be one of the most overlooked operating costs evaluated at an enterprise level. With an average space utilization rate of only 30 to 60 percent and increased pressure to streamline efficiencies and cut costs, organizations are now placing significant focus on portfolio strategy and expense optimization.

    TaxBud’s seasoned real estate professionals bring independent, conflict-free capabilities to help clients formulate strategies and solutions that align real estate portfolios with business objectives – addressing not only current needs, but future goals, as well.

    Through a combination of benchmarking, analysis, and restructuring, we evaluate the composition of each real estate portfolio and support the successful implementation of solutions designed to optimize performance. Our sophisticated, proprietary methodology provides reliable, industry-specific data used for the critical analysis of clients’ real estate assets in real time.

    Utilizing our extensive understanding of alternative operating models, cost structures, and portfolio management, our methodology streamlines – and significantly expedites – the benchmarking process. It also provides a deep dive on various factors such as cost, utilization, productivity, and flexibility. Our experienced team audits all real estate and facilities management vendor master service agreements to ensure financial terms and conditions have been met. Our goal is to achieve statutory, contractual, and operational compliance by bringing complete objectivity to the process and mitigating risk. This comprehensive approach allows TaxBud to develop peer-to-peer comparisons and identify opportunities to improve efficiencies and lower costs.

    Whether guiding clients through a proven sourcing process tailored to meet company-specific objectives or crafting facility management RFP outsourcing documents, TaxBud supports its clients in implementing critical strategies to improve operating efficiencies and reduce cost.

     

    Site Selection and Incentives

    Maximizing investments in people, capital, and facilities.

    In today’s competitive landscape, the location of a facility – and the level of incentives secured – can have a profound impact on the bottom line. As thousands of jurisdictions and elected officials around the world aggressively compete for new jobs and investment dollars, it is more important (and more difficult) than ever for corporate decision-makers to determine the true value of incentive packages. At the same time, actually collecting on the promises made over a multi-year project can be an even more daunting task.

    TaxBud’s Corporate Real Estate Advisory team has decades of experience negotiating and securing some of the largest incentives packages ever offered in North America. TaxBud has earned a credible reputation with senior government officials based on our deep experience and long track record of advising companies with site selection and corporate relocations. This allows us to provide our clients with the strongest incentive results.

    Our team has diversified industry experience working on major projects ranging from locating new corporate headquarters, advising on back office relocations and renewals, and finding new greenfield sites for major manufacturing facilities. Our political, geographic, and technical tax knowledge of the incentives programs, combined with our relationships with key political players provides our clients with a distinct competitive advantage.

    Our proven methodology is customized to be project specific and is designed to identify, maximize, and secure usable tax and business incentives. Most importantly, our 100% dedication to the incentives compliance process ensures that every dollar awarded is actually collected.

     

    Lease Audit and Advisory

    Identifying opportunities, driving value.

    TaxBud’s Corporate Real Estate Advisory Services practice has a dedicated group of highly devoted and experienced professionals, bringing a unique level of enthusiasm, dedication, and creative thinking to each project. Our clients, including many of the most prestigious law firms and investment banks, as well as dozens of Fortune 500 corporations, have reaped the benefits of our non-confrontational, yet persuasive approach.

    For most companies, real estate occupancy and facility costs are typically some of the largest recurring expenditures. Assessing the accuracy of these charges and identifying opportunities for savings is essential. TaxBud’s professionals deliver deeper, more thorough audits, and are able to find more ways to obtain the greatest refund possible. Our process is designed to minimize conflicts and to maintain a positive relationship between landlords and tenants. Our service approach proactively ensures that our clients’ needs are fully satisfied and accommodated.

    As one of the only major accounting solutions with a dedicated practice group serving the corporate real estate community, TaxBud draws on an experienced network accountants that have spent much of their career uncovering property operating expense and real estate tax errors, as well as utility and overtime HVAC miscalculations. We are uniquely positioned to address complicated utility issues involving the lease, financial calculations, and engineering concepts.

    Potential saving through a lease audit include:

  • Base Rent

  • Operating/CAM Expenses

  • Real Estate Taxes

  • Utilities

  • Overtime Services

     

    Construction Audit and Advisory

    Driving value throughout a complicated process.

    TaxBud’s comprehensive construction oversight services combines our forensic capabilities with architectural design and project management professionals. We take a proactive approach throughout every phase of construction in order to keep costs – and problems – under control.

    Establishing a construction audit team at the beginning of a project will stem the seemingly unavoidable problems commonly associated with the construction process, saving time and money. Even if a project has already commenced, we can still customize our approach to meet our client’s needs. In fact, most construction contracts require the vendor to make their books available for audit for up to three years after the project is complete.

    Our professionals work to assess potential savings through a construction audit in the following areas:

  • The Lease – Our team will assist in negotiating and reviewing the lease and comparing it against construction costs to make sure items the landlord is responsible for are not inadvertently being paid by our client. A thorough knowledge of leases and construction costs is critical to having the project completed at the lease cost.

  • Professional Contracts – Our practices assess all professional service contracts including project management, design, and construction management for clarity and market value pricing. Forensic audits are performed throughout the project to verify time charges, billing rates and materials.

  • Change Orders – The perception is that the Construction Manager and subcontractors make up for profits lost during the bid phase with Change Orders, since they now have negotiating leverage. BDO levels the field by stress testing every change order, which includes screening for cost, value, accuracy, and redundancy to the base contract. The validity and charge for a change order is confirmed in the field and documented before we recommend approvals. In many cases we are able to negotiate reduced costs to the project.

  • Landlord Charges for Services – During construction, the landlord will bill a tenant directly for a variety of expenses including utilities, freight elevator and janitorial services. These charges may be addressed as part of the tenant improvement clause of the lease, so it is important to make sure these expenses are not included in the operating expense escalation as well, and that the rate does not include any hidden premiums.