Jackson Cross Partners, LLC (JCP) reports success in creating operational efficiencies in the corporate real estate portfolio of Goodwill of Delaware and Delaware County (Goodwill). Goodwill is the oldest nonprofit 501(c)3 job training organization in the State of Delaware. The Jackson Cross Corporate Real Estate (CRE) Strategies Group was selected by Goodwill to assist in the efficient management of their real estate portfolio consisting of 15 leased properties totaling 260,000 square feet of space.
Goodwill recognized the strategic benefit of implementing the CRE Strategies platform which at the core provides Goodwill with tactical execution at the individual transaction level. The platform starts with the creation of a property database to centralize all information, such as legal and financial documents, while making the data accessible from anywhere. To ensure continued success, JCP assists Goodwill leadership in monthly planning meetings, in order to proactively contact landlords and address current issues.
As a result of working with the CRE Strategies Group, Goodwill’s long-term real estate strategy now includes a “Play Book” that outlines systemized processes for efficient real estate portfolio management. “Through the efforts of Ted Van Name, President Emeritus at Goodwill, we were able to align the objectives of the real estate function with the goals of the underlining strategic business plan of Goodwill. Our transaction management process, anchored by the ‘Play Book’, drives outcomes that minimize expenses, increase productivity and maximizes the financial integrity of our clients.” stated John Morrissey, partner of Jackson Cross Partners.
“Over the past several months, the CRE Strategies platform has transformed our system in ways that now allow us to become proactive in lease negotiations by keying in on upcoming renewals – well ahead of time and thereby creating a better leveraged position in our negotiations” stated President/CEO of Goodwill, Colleen Morrone. “JCP has also assisted us with our growth strategies by locating and negotiating leases for donation centers and retail property sites in a very difficult urban landscape.”
In addition to the organizational support supplied by the JCP/Goodwill team, Jackson Cross has restructured and executed more than five different transactions with an average rent reduction of 21 percent, saving Goodwill over $1 Million in occupancy costs over their term.