Career Education Corporation

Client Situation

In March of 2001, Studley was selected to represent Career Education Corporation (CEC) in all real estate matters nationally.  As part of this relationship, Studley performed the following services: strategic planning, tenant representation, project management, lease administration consulting, and incentives negotiations.  

Consideration and Analysis

CEC wanted a comprehensive and objective real estate evaluation process to ensure that all of their real estate options were evaluated and the optimal solution was implemented. They also desired a transparent process that would ensure accountability, control and ultimately lower occupancy costs and enhanced lease flexibility for their ever-evolving and fast growing organization. 

Result

Studley implemented a real estate process that provided greater speed to market, greater accountability, lower occupancy costs and more flexible transaction terms. In addition, Studley eliminated conflicts of interest that existed in situations where CEC was previously represented by the same real estate advisory firm as their landlord.   

·          Completed over 110 transactions

·          Estimated occupancy cost savings 5% to 15% per transaction  

·          Occupancy cost savings for six previously negotiated transactions over $10 million  

·          Lease agreements provided significant expansion capability.