Challenge: Colliers was tasked with setting up a project team consisting of engineers, architects, general contractors and other specialty consultants. Colliers had complete oversight of the project team to complete the due diligence, design/engineering, pre-construction budgeting and construction administration. A land purchase and development agreement was negotiated with a municipality that was developing a technology park on a greenfield site.
Strategy: Colliers was meticulous in documentation and attention to detail throughout the process. Colliers also supervised the project team through several rounds of value-engineering exercises to ensure that the ultimate design was delivered on schedule and at the best possible cost. The facility was designed as fully scalable, with pre-planned expansion modules that allowed Northern Trust to cost-effectively manage their growth requirements for the future.
Result: The project was delivered to Northern Trust at $5 million under budget. With Colliers’ oversight, construction was completed well ahead of schedule. The building received LEED® Gold Certification from the U.S. Green Building Council. Colliers was able to negotiate more than $500,000 in state and local incentives for Northern Trust.