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Indiana Tech streamlines real estate process achieves savings

Case Study

Challenge: Prior to their association with Colliers, Indiana Tech negotiated all leases directly with landlords across 10 locations throughout the state. A direct result of this policy was that Indiana Tech found themselves in above-market leases with minimal flexibility and in some cases, no visibility.

Strategy: Indiana Tech hired Colliers education services professionals to streamline and manage their real estate process, which included abstracting all leases, identifying immediate opportunities for cost reduction, evaluating locations and their impact on enrollment through mapping/demographics and seeking real estate tax exemption savings.

Result: Indiana Tech was positioned to take advantage of favorable market conditions in many of their locations such as $150,000 in immediate savings and a turnkey renovation, a 50% reduction in rent on a five-year lease extension and an approximately $2-per-square-foot reduction realized in an approved real estate tax exemption in a building with prime interstate visibility.