Barometer - property advice that gives you an advantage

Korn/Ferry International

Korn/Ferry International has been the executive recruitment industry’s leader and innovator since its founding in 1969, and is the world’s premier provider of talent management solutions. With nearly 80 offices in 40 countries, Korn/Ferry ensures that its clients have access to the most qualified candidates for every position. More clients around the world trust Korn/Ferry than any other firm to deliver and develop the best executives to run their organizations—a responsibility it takes seriously and works every day to meet with integrity and results.

Challenge

With its lease in Canada’s premier office building, Brookfield Place, approaching expiry and a desire to rejuvenate its Canadian Head Office, Korn/Ferry engaged Savills Studley to explore and evaluate its workplace structure, including its relocation options in the Toronto office market. It’s corporate structure consists of three primary business units: executive search/ recruitment (Korn/Ferry), talent management consulting (Leadership and Talent Consulting) and project-based/mid-level recruitment (Futurestep). These different but complimentary business units provided a variety of options to accommodate short-, mid-, and long-term growth. With an internationally recognized brand servicing the country’s top executives, maintaining a highly professional and first-class image within the financial core was of paramount importance.

Savills Studley’s Response

Savills Studley initiated its FLOW process, first completing a thorough analysis of Korn/Ferry’s facilities and operational requirements. Second, Savills Studley brainstormed strategies to align Korn/Ferry’s real estate with its corporate and business-plans. While the existing building was a viable option, the final strategy placed Korn/Ferry’s tenancy on the market through a Request For Proposal call to all landlords of AAA and A Class buildings in the financial core. The RFP required solutions that accommodated the options available to Korn/Ferry, including the new office towers being built within the financial core. The strategy worked, and the process uncovered a number of excellent alternatives.

The Solution

Remaining in the existing complex was initially viewed as the best solution, as Brookfield Place had maintained its status as Canada’s premier office building despite the construction of four new office buildings going on around it in the financial core. However, a phased construction within Korn/Ferry's existing premises was thought to be more time consuming and disruptive to operations than relocating to a new space that could be built during the last few months of the remaining term.

As the deliberations continued, Savills Studley learned of an available sublease space not yet being marketed within the same elevator bank as the current premises. The Savills Studley team capitalized on the situation by entering into negotiations with both the sublandlords and head landlord to secure the new space for its client. Savills Studley Project Management + Design was then engaged to implement the original vision conceived at the commencement of the process. The new space was completed on time and within budget.

Related Services

 
 
 

Key contacts

Stan Krawitz

Stan Krawitz

Vice Chairman – Founder, Head of Canada

Savills Toronto

+1 416 480 0745 Ext. 3030

 

Ken Norris

Ken Norris

Senior Vice President, Branch Manager – Ontario Office

Savills Toronto

+1 416 480 0745 Ext. 3047