Get to Know… CBIZ Gibraltar
Our monthly “Get to Know…” posts provide the opportunity to learn more about our global, leading tenant representation member firms – what sets them apart as best-in-class in their markets, the expertise they offer their clients, and the value they provide during every stage of their clients’ journey to find the perfect space for their business.
Have real estate needs in Chicago? Consider the experts at CBIZ Gibraltar.
1. When was CBIZ Gibraltar founded?
Gibraltar was founded in 1998.
2. Why did you join Exis, and how long have you been a member?
CBIZ Gibraltar joined Exis for many reasons, some of which include best practices, a network of global firms for facilitating multi-market work and the ability to collaborate and learn from other like-minded tenant representatives in various markets.
3. Are there specific areas of focus/expertise that CBIZ Gibraltar practices?
CBIZ Gibraltar specializes in representing professional services, health care, technology, legal, higher education and financial services firms. In addition, we offer the following services:
• Space programming
• Market evaluation
• Occupancy expense analysis
• Consolidation/ disposition analysis
• Employee scattergrams
• Municipal/community incentives
• Amenity evaluation
• Demographic analysis
• Competitor analysis
• Project responsibility matrix
• Transaction document standardization
• Project timeline development
• Market analysis
• Financial analysis
• Non-financial analysis
• Lease negotiation
• Lease documentation review
• Lease abstracts
• Critical date(s) notifications
• Lease management & administration
• Opportunity identification
• Integration & strategy
• Outsourcing strategies
• Performance metrics
• Alternative financial structuring evaluation
• Real estate tax auditing
• Valuation consulting
• Cost-segregation studies
• Risk & advisory services
• Internal auditing
• Tax planning & structuring
• Project & cost management
• Competitive bid negotiation
• Design/ construction oversight
• Move management
• Facility evaluation
• Sustainability integration
LEED identification & coordination
4. What is the current size of your team?
Gibraltar is comprised of professionals from a variety of backgrounds, spanning a broad range of real estate expertise & experience. Currently our team has 12 members and is growing and evolving along with our clients’ needs.
5. Amount of square footage secured so far in 2018:
Approximately one million square feet.
6. What are some of the credentials/characteristics/values you look for when hiring your team – to ensure you offer the highest quality service possible?
Gibraltar places strong value on professional, determined and team-focused professionals that possess strong communication skills, a forward-thinking mentality and are goal-oriented with the client’s bottom-line in mind.
7. What are CBIZ Gibraltar’s core values as a company?
Professionalism, commitment and integrity.
8. How would you describe the CRE atmosphere in Chicago?
While the office market in downtown Chicago remains somewhat landlord-favorable, we are seeing rate stabilization along with increased Tenant Improvement Allowances as a result of increases in construction costs. With several new office developments hitting the market last year, there has been an uptick in the vacancy rate and an increase in tenant demand has absorbed much of the new office supply. Notwithstanding, we are not anticipating a major change in current conditions over the next several months.
9. What is the most valuable advice you can give a client in today’s overall CRE atmosphere?
In today’s market, there is a meaningful focus on recruitment and retention of talent. As such, incorporating space trends, such as innovations in technology, design and space utilization, when making a real estate decision is critical.
10. What are some upcoming trends in the CRE industry that you feel will affect how companies do business?
Advancements in technology, recruitment and retention efforts, office space utilization and shared office space environments are all major influencers over the CRE industry and will continue to evolve the way in which our clients work.
11. Why is exclusively representing tenants important to you?
We believe that the non-exclusive model actually works against tenants’ interests. Firms representing both landlords and tenants are often times compelled to do what is best for the bigger client, typically the landlord.
Conflict-free tenant representation ensures that our clients receive impartial, expert advice on every detail in every transaction. All potential for any “conflict of interest” that may arise is eliminated and the main focus remains on the client’s bottom-line.
12. What is the most valuable feedback you’ve received from a client?
Our clients range from local & regional companies to national & international corporations. We can tell you about our clients’ feedback, but their words mean more than ours.
“Our team has been using Gibraltar for more than a decade. I have not found another firm that is as responsive, accountable and aggressive as their team is in handling our real estate projects. We’ve had many challenging assignments, but Gibraltar’s services and expertise have never wavered. We have a true partner in Gibraltar.” – Michael Cusak, Area Manager for North/Northwest, Chicago Title Insurance Co.
“This was an extremely important decision for our company. Gibraltar’s understanding of trends in the market was invaluable to us during our project. The fact that Gibraltar was actively in the market with comparable tech users gave us the confidence that we were seeing proposals that truly tested the limits of the market and that we ultimately captured the best space solution possible. We could not have been happier with the outcome.” – J Schwan, Founder/CEO, Solstice Mobile
“We have used Gibraltar on a number of assignments over the years. The effort they put forth on each and every project shows us their continued commitment to accomplishing our objectives. They always make sure we understand every item on the table and work tirelessly even after a lease is signed.” – Tonia Leonardos, Director, Corporate Services, Delta DentalBack to Media