Retail clients who want to reduce their occupancy costs through CAM audits, lease administration and lease renewal/restructuring services have an ally in the SRS Real Estate Partners’ Corporate Services team. Recently, the SRS team revealed millions in occupancy cost savings through occupancy cost reviews for long time client, Rent-A-Center.
Rent-A-Center engaged SRS Corporate Services in the fall of 2010 to perform occupancy cost reconciliations and reviews for Rent-A-Center’s corporate portfolio of approximately 2,800 stores. The SRS Corporate Services team assumed responsibility for reviewing and reconciling CAM, tax and insurance expenses. As a result, over the past two years, Rent-A-Center has realized $3.2 million in savings through occupancy cost reconciliations.
“We are pleased with the occupancy cost savings and the outstanding efforts of SRS’ Corporate Services lease administration team,” said Robert Render, senior director of real estate for Rent-A-Center. SRS has also been responsible for ensuring all payments are in compliance with the specific terms of each lease agreement and has served as a single source of contact for the landlords.
“Our mission has been accomplished when we uncover occupancy cost savings and mitigate risk for our clients,” said Stan Heller, executive vice president and market leader for the Corporate Services office. “We foresee that more clients will discover the value of spend optimization through occupancy cost savings delivered by SRS Corporate Services. Do you have a need for SRS Corporate Services? Contact Stan Heller to discuss your obstacles and how SRS Corporate Services can help you!