CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}
Cushman & Wakefield Stories Cushman & Wakefield Stories

Stories

OMD Philippines: Keeping Its Office Space Closer To HQ

01 THE CHALLENGE

OMD Philippines’ lease contract with Regus was about to expire on December 30, 2018.

For the next steps, the company had these options and conditions in mind:

  • If it would relocate, it should get the same rate as its current contract
  • If it would keep its office in Regus, it should not pay any price increase and renewal fees

However, Regus' landlord was keen to revert the rates to market standard with a 3% increase — a total of 17% increase from OMD's current rent.

To help it decide whether to renew or move, OMD engaged Cushman & Wakefield to:

  • Find available spaces where it can relocate
  • Check ongoing rates for a similar setup with its current office
  • Negotiate with landlords

02 THE SOLUTION

We presented other serviced office providers to OMD. However, the company was not satisfied with the sizes and setup of the offices.

OMD then decided to keep the current office since its size was bigger than the other options, and it's closer to the main office. For this, Cushman & Wakefield proposed renewal strategies, including cutting the current contract and acquiring a new lease to get better results.

03 THE RESULT

OMD decided to end the lease and acquire new terms for the same space. Upon closing this deal, OMD enjoyed 7% annual savings from the landlord's initial renewal offer.

Meet the Team

Wilfredo-Cauman_04
Wilfredo Cauman

Senior Operations Manager
Taguig, Philippines


+63 (2) 8554 2943

Download VCard

Zoraya Mangelen
Zoraya Mangelen

Associate Director - Tenant Advisory Group (TAG)
Taguig, Philippines


+63 (2) 8554 2919

Download VCard

Bojay-Samaco_02
Reynaldo Samaco

Senior Leasing Manager
Taguig, Philippines


+63 (2) 8554 2917

Download VCard

WE’RE ON HAND TO HELP

Contact us to discuss how our experience on this project could be translated to your business requirements.

Related Stories

Dexcom Philippines New Office Fit-out Project
Dexcom Philippines • Healthcare
Learn More
Cushman & Wakefield Stories
Booking.com Philippines Inc. • Travel
Learn More
Sun-life
Sun Life Financial Philippines • Banking & Finance services
Learn More

Related Services

Tenant Representation

Is your real estate working hard enough to support your business requirements now and into the future?

Whether you want to streamline your portfolio, navigate a rent review, or relocate your company, getting the right property advice from the right people can make all the difference.

Learn more
Operations Hub

Our global, multi-disciplined, connected teams of real estate professionals partner with on-site/in-market teams to deliver fully-integrated services to our clients.

Learn more
Project & Development Services
Our Project & Development advisors bring a long-term perspective that minimizes risk and drives value throughout design and construction
Learn more

CAN'T FIND WHAT YOU'RE LOOKING FOR?

Get in touch with one of our professionals.
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS