The Challenge

In 2007, Seguros Monterrey New York Life, a wholly owned subsidiary of New York Life, selected Cushman & Wakefield out of a list of seven consultancy firms and real estate companies to assist it in the analysis and execution of a real estate strategy that would allow the leading insurance firm to maximize sales productivity and streamline its administrative processes.

The Solution

Cushman & Wakefield's approach was two-fold. First, along with our Global Consulting business line, we developed a strategic occupancy analysis that included a business assessment, occupancy analysis, market analysis, and a comparative analysis of real estate scenarios, which included financial and operational performance. Second, in coordination with Mexico’s top brokerage team, the selected occupancy scenario was successfully implemented.

The Result

Seguros Monterrey New York Life reviewed more than 30 office projects, and selected a development on Paseo de la Reforma across from the Angel of Independence, which upon completion in 2012 will become the most prominent and upscale office tower in the country. The transaction structure allowed our client to take advantage of the economic climate and, at the same time, secure a real estate occupancy that will not only maximize its visibility in the city, but will also successfully achieve the project's original goal: increase profitability of the company.