Cross-service Strategic Planning Supports Ericsson's Dynamic Growth
A two-year strategic planning project for Ericsson North America helped the firm address dynamic growth in its suburban Dallas, Texas, portfolio. By engaging a wide range of expertise from within the firm, Cushman & Wakefield developed a staged solution that met our clients’ long-term goal of consolidating operations to an existing campus in Plano, while offering flexible options that supported immediate growth.
Cushman & Wakefield’s account team partnered with brokerage and business consultants to analyze multiple long-term occupancy scenarios for Plano and Richardson. At the same time, a short-term, 48,000-square-foot office lease was negotiated to give interim relief to the pressing demand for space. As a part of the strategic approach, our team also assisted Ericsson in negotiating a 460,000-square-foot lease expansion and extension in Richardson.
To address long-term requirements, Cushman & Wakefield evaluated Plano-area land options for Ericsson, teaming with our Valuation professionals to appraise a two-parcel, 35.4-acre site adjacent to the Plano campus. In 2011, Cushman & Wakefield assisted Ericsson in acquiring the two parcels for future expansion. Construction of two office buildings and new parking structures is now underway with occupancy projected for mid-2013.