Savills Completes Life Sciences Company Synarc’s HQ Relocation with 4% Under Budget
Synarc, a global medical imaging provider, was relocating from a 33,000-square-foot office in San Francisco to a 50,000 square feet space in Newark, CA. Driven by business growth and the need to expand their technological infrastructure, the company hired Savills Project Management Services Group to analyze and then execute on the design, engineering, construction, and relocation to the new facility.
To meet the aggressive schedule, Savills presented a single bench of regional professionals who managed and executed the project from inception to move-in, reflecting a streamlined and efficient process. The client had a complex technology requirement, and relied on Savills to conduct a detailed analysis to determine whether the new space in Newark, or a collocation, would be the most economical solution to support the company’s needs. Through this Savills-driven analysis, Synarc was able to make informed decisions based on defined financial metrics, which resulted in a decision to move their primary global technology equipment to a local collocation facility. By having the project management team involved in the development from its inception, we were able to outline and negotiate all considerations upfront, including documenting a scope of work and detailed construction schedule as an exhibit and lease attachment. Additionally, Savills created and successfully implemented its newly developed “Operation Sunshine” exhibit, which contractually obligates a general contractor to provide complete transparency into their actual costs, and those of the subcontractors for all trades. As a fiduciary to the client, this process provided for a completely auditable and defendable project, where the client was able to “see” where their dollars were being spent.
Our integrated platform allowed for a seamless transition from project transaction to project management focus. The project team designed a near vertical set of milestones that wrung out all excesses, re-defined concurrent tasks and worked through an expedited design, entitlement, and construction timeline – based on a 24/7 commitment and trustworthy relationships. The project was completed 1.5 weeks ahead of schedule which allowed the client to focus on the critical relocation aspect, and the project also came in $238k or 4% under proforma expectations on a tight $5.7M project.