Challenge

With 1,500 locations in 1993, Edward Jones wanted to accelerate its retail branch growth and open 10,000 new offices by 2005. But an outdated internal real estate system stood in the way of their expansion goals.

Colliers had conducted one-off brokerage assignments for Edward Jones in the late ‘80s. But with their aggressive growth goals, Edward Jones needed a more robust and comprehensive real estate solution.

Solution

Edward Jones hired Colliers in 1993 to initiate a pilot transaction management program, completing a dozen small space requirements in Colorado. Due to the success of the program, Edward Jones expanded Colliers’ services to encompass turn-key operations—including site selection, lease administration, transaction management, and design and construction coordination. Providing these services, Colliers has opened nearly 750 new retail locations per year for Edward Jones.

Colliers uses REFLEX, our proprietary process management platform, to track the full project lifecycle, from detailed leasing activities to accounts payable and receivable. Edward Jones has continuous access to the Web-enabled system as well as access to Collier’s facility management help desk for handling work orders.

In addition to opening more than 9,000 new locations since inception, Colliers manages all lease renewals, renegotiations, and relocations for Edward Jones. Using REFLEX, Colliers reviews rates, identifies red flags, coordinates with landlords and, once approved, signs all corporate leases.

As the creator and manager of Edward Jones’ real estate processes, Colliers remains their sole real estate services partner, continuing to support the firm as they continue to grow beyond their 10,000-office milestones. 

Results

By establishing a centralized real estate management platform, Colliers delivered the following key benefits:

• Opened 9,000 new locations in fifteen years, averaging 150 per month. (with 120 at peak months)
• Renewed 1,200 to 1,500 lease annually; completing over 12,000 renewals since inception.
• Resolved more than 25,000 work orders per year.
• Enabled a compounded growth rate of 18% by aligning real estate portfolio strategies with company goals.
• Delivered competitive advantage and speed-to-market through full-cycle real estate solutions supported by customized technology tools.

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