Burns & McDonnell RFP Response_FINAL

A CUSTOMIZED STRATEGY WITH UNPARALLELED EXPERIENCE, INDUSTRY KNOWLEDGE, AND BUSINESS OPPORTUNITIES OPTIMIZE DESIGNED TO

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EXECUTIVE SUMMARY

REQUEST FOR PROPOSAL RESPONSE

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Q1: COMPANY INFO

Q2: ORG. CHART

Q3: OFFICE LOCATIONS

Q4: LICENSED BROKERS

Q5: TEAM BIOS

Q6: TRANSACTIONS

Q7: PROFESSIONAL SERVICE PROVIDERS

Q8: REFERENCES

Q9: BUILDINGS MANAGED

Q10: LITIGATION

Q11: MANAGEMENT STRUCTURE

Q12: APPROACH AND TOOLS

Q13: COMPENSATION

Q14: AGREEMENTS

Q15: STRATEGIES

Q16: PROPERTY ALTERNATIVES

Q17: BUSINESS DEVELOPMENT

Q18: SPACE PLANNING

Q19: PROJECT MANAGEMENT

TABLE OF CONTENTS

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EXECUTIVE SUMMARY

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EXECUTIVE SUMMARY

Burns & McDonnell –

On behalf of our team, we greatly appreciate the opportunity to present our tenant representation services to Burns & McDonnell (B&M) for your Denver office requirement. We recognize this is one of your largest offices in the country and a critical component to your growth strategy, so we would be honored to work with you on the assignment. The proposed team has a long history of working with B&M in the Denver market, strong relationships throughout the organization, and has sent multiple business opportunities to B&M locally and nationally. However, these are not the reasons why B&M should hire C&W in Denver, but rather we are positioned to deliver superior results for the following reasons: Experience – There is no team in the market that can honestly say they have completed more large tenant rep lease transactions than C&W over the past few years including the largest lease signed in Colorado for BOOM Supersonic in 2021. This large deal experience provides our team insight into how far landlords will stretch to land these opportunities and we will be able to parlay that knowledge into our efforts on behalf of B&M. Industry Knowledge – C&W is uniquely positioned to provide insight on workplace strategy and trends for the world’s largest engineering companies as our firm represents Jacobs Engineering, AECOM, and Flour Corporation. Our workplace strategy team will utilize our experience with these companies to help guide B&M through critical long term decisions on your future workplace in Denver. Business Opportunities – The proposed team is committed to identifying opportunities to send business to B&M long after a transaction in Denver is completed. We already demonstrated our ability to deliver these opportunities and continue to work on having a deeper understanding for ALL of B&M’s capabilities so we know where your team can add value. Specifically, we believe there will be opportunities for B&M with some of C&W clients in the space and aviation industries. We look forward to discussing this in more detail during our presentation. We respect and admire the fact B&M is 100% employee-owned, so we know how important it is to the B&M team to find a partner that can deliver on these business opportunities. Ultimately, we are determined like B&M to never lose a client, so despite a long history with B&M in Denver, we by no means will rest on our laurels! We intend to demonstrate in our RFP response and presentation that we have designed the right team, process, and strategy to optimize the best results for B&M in Denver.

Sincerely,

Steve Billigmeier Vice Chairman +1 303 813 6413 steve.billigmeier@cushwake.com

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REQUEST FOR PROPOSAL

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PROJECT TEAM

1. Provide name of company, company structure (i.e. corporation, partnership, LLC) and year established. Company Name: Cushman & Wakefield, Inc. Company Structure: Corporation. Cushman & Wakefield, Inc. is a wholly owned subsidiary of Cushman & Wakefield which is publicly listed on the New York Stock Exchange under the ticker CWK.

Year of Incorporation: 1917

2. Provide an organizational chart.

STEVEN BILLIGMEIER Account Lead Single Point of Contact

Olan Young Financial Analyst

Erik Petersen Project Management

Kenneth Carpenter Capital Markets

Stuart Hood Workplace Strategy

John DeHardt Executive Oversight

FACILITY MANAGEMENT

CAPITAL MARKETS

INCENTIVES

CONSULTING

PROJECT MANAGEMENT

WORKPLACE STRATEGY

RESEARCH

MARKETING

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REQUEST FOR PROPOSAL

3. Provide the location of offices in the Denver region. 1. Downtown Denver (Primary Service Location) • 1401 Lawrence St. Ste 1100, Denver, CO 80202 2. Colorado Springs 3. Denver Tech Center

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4. Fort Collins 5. Silverthorne

4. Provide the number of licensed brokers and agents/salespersons employed by your company in the Denver region. We have approximately 112 licensed professionals, of which, 86 are solely focused on brokerage. 5. Professionals: Provide the name and title of the Managing Principal representative for the coordination and execution of work, other key real estate professional(s), and any other professionals that could be assigned to the Burns & McDonnell Denver account including resumes (not exceeding 2 pages), experience and qualifications, copies of the Colorado broker/ salesperson license, contact information, and their area of responsibility in servicing the Denver account. Per the Organization Chart (RFP Question #2), Steven Billigmeier will act as the account lead for the project and will be supported by multiple service line leads. The bios for all of the key account team members are on the following pages.

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Steve Billigmeier Vice Chairman Tenant Advisory Group 1401 Lawrence Street, Suite 1100 | Denver, CO 80202 Direct +1 303 813 6413 | Mobile +1 303 919 0850 steve.billigmeier@cushwake.com | cushmanwakefield.com Lic. # EA.040034772

Professional Expertise Mr. Billigmeier has negotiated some of the largest and most complex lease transactions on behalf of corporate occupiers over the past 20 years. He is a tenant representation specialist with an expertise in lease administration, disposition, acquisition, portfolio management and strategic advisory services. Mr. Billigmeier focuses on developing an in-depth understanding of his clients’ business objectives and then formulates and executes a real estate strategy that aligns with the organization’s mission. During his tenure, Mr. Billigmeier has served as a strategic partner managing real estate portfolios on global basis. As one of the top producing brokers at Cushman & Wakefield, Mr. Billigmeier has earned multiple awards including “Rookie of the Year,” “Deal of the Year,” “Top Producer Award,” and the “Service Excellence Award.” The Denver Business Journal consistently recognizes his team as one of the top producing teams in the market and he is consistently nominated by NAIOP as one of the top office leasing brokers in Colorado.

Notable Assignments •

Questar - 180,000 RSF Epsilon - 80,000 RSF

VF Corporation - 285,000 RSF Computershare - 282,000 RSF Boom Supersonic - 280,000 RSF Vail Resorts - 165,000 RSF QEP Resources - 180,0000 RSF Sierra Nevada Corporation - 400,000 RSF+ (Multiple Locations)

• • • • • • •

• • • • •

Medtronic Technologies - 110,000 RSF Burns & McDonnell - 100,000 RSF

WeWork - 77,000 RSF Enveda Bio – 58,000 RSF

TSYS - 115,000 RSF

Professional Affiliations • NAIOP and DMCAR •

Colorado Bioscience Association

• Downtown Denver Partnership’s Leadership Program • Cushman & Wakefield Tenant Advisory Group – Executive Board

Education • B.A. in Finance from Miami University (OH)

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John DeHardt Managing Principal Kessinger/Hunter & Company +1 816936 8504 jdehardt@kessingerhunter.com

Tenant Representation for Burns & McDonnell For the past 17 years, John has supported Burns & McDonnell’s Real Estate Department and represented Burns & McDonnell for nearly all its office leasing. John has represented Burns & McDonnell in over 120 transactions, including new leases and lease amendments for lease expansions and/or lease extensions. Recent Business Referred to Burns & McDonnell • Manassas, Virginia – Data Center - $65,000,000 project completed in October 2017. As Managing Partner of the ownership group, John engaged Burns & McDonnell to provide all architectural and engineering services. • FEMA Headquarters/Kansas City, Missouri - $21,000,000 project completed in November 2017. As Managing Partner of the ownership group, John engaged Burns & McDonnell to provide all architectural and engineering services and engaged Burns & McDonnell as the General Contractor for all construction. • NOAA – National Reconditioning & Logistic Support Center - $26,000,000 project (222,500 SF) completed in January 2016. As Managing Partnership of the ownership group, John engaged Burns & McDonnell to provide all architectural and engineering services and engaged Burns & McDonnell as the General Contractor for all construction. • Sunflower Redevelopment – 9,000-acre former Army Ammunition Plant. We have been involved in a significant environmental remediation project at Sunflower for a number of years. As Managing Partner of the ownership group, John engaged Burns & McDonnell’s environmental group to provide engineering services. To-date, Sunflower has paid Burns & McDonnell $7,600,000 in engineering fees. • Northern Virginia Data Center Project - John introduced Burns & McDonnell to another client, TA Realty, and helped negotiate a joint venture between Burns & TA resulting in design and construction contracts for Burns to build up to $1.5 billion in data centers in Northern Virginia. Role & Responsibilities As Managing Principal of Kessinger/Hunter & Company, LC, John has overall responsibility for all functions performed by the company, including Development, Brokerage, Property Management, and Construction. Kessinger/Hunter & Company is one of Kansas City’s largest full-service commercial real estate firm, operating over 25,000,000 SF of office, industrial, and retail properties in 23 states.

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Stuart Hood Managing Director | Strategic Consulting West Region Lead 1401 Lawrence St. Suite 1100 | Denver, CO 80202 Mobile +1 979 255 8190 Stuart.Hood@cushwake.com | cushmanwakefield.com Lic #704051

Professional Expertise Stuart Hood is the West Region Lead for Cushman & Wakefield’s Strategic Consulting practice. His team and integrated delivery platform are designed to help clients create foundational and transformative real estate strategies that align with their business’ goals and objectives. Stuart’s goal with every assignment is to create outcomes for his clients that help them proactively respond to market changes and core business objectives while delivering best-in-class, value driven, and strategic solutions. Throughout his career, Mr. Hood has been recognized as an internationally experienced Corporate Real Estate leader with proven success leading diverse teams that service multi-faceted and complex real estate portfolios. Mr. Hood is a forward-thinking leader who looks beyond current market trends to identify and implement bespoke real estate strategies. Currently, his team is well recognized for their work product and results in Labor Analytics, Locations Strategy, HQ Consulting, Change Management, Portfolio Intelligence, and Workplace Strategy for office, industrial and retail clients. Prior to joining Cushman & Wakefield, Mr. Hood served as a Senior Director with CBRE from 2010 to 2021. During that time, he led several global real estate teams for a number of Fortune 500 clients, overseeing service lines including Brokerage and Transactions, Workplace Design, Project Management and Construction, MAC, Portfolio Optimization, Workplace Strategy, and Occupancy Management. As a member of CBRE’s Global Workplace Solutions Leadership Team, Mr. Hood was focused on helping clients gain a competitive advantage through real estate strategies and delivery solutions. Prior to joining CBRE, Mr. Hood was a Consulting Actuary for Mercer, providing strategic retirement management and benefits solutions for a number of global clients.

Clients Served • AT&T • Bank of America • ExxonMobil • Google • Schlumberger • Microsoft • Norton LifeLock

Education • B.S in Actuarial Science from the University of Texas at Austin

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Erik Petersen Director, Project and Development Services Erik.petersen@cushwake.com

Direct: 303 218 3270 Mobile: 206 271 6527

Professional Expertise Director based in our Denver offices, Erik leads our variable office practice, representing occupier and investor clients and managing the business. Erik brings many years of successful multi-disciplinary industry experience across construction, development, facilities programming and other pertinent areas of commercial construction and real estate. Drawing upon his background representing clients as well as an in-house single point of contact directing global projects focused in North America, where he held a lead role as player/coach with both strategic and tactical project delivery. Erik brings consistent client results as he manages projects with a strategic and methodical approach ensuring consistent delivery of the group’s best-in class services. Erik’s proven expertise rests with listening to his client’s business objectives and guiding solutions that implement their desired results with a positive team approach. Prior to Cushman & Wakefield, Erik served as a Global Real Estate Leader with a global fortune 150 electronics firm where he was directly responsible for managing the capital budgets for tenant improvements for lease transactions for the Americas and now serves as the market lead for the Project and Development Services team in Colorado.

Clients Served • Davis Graham & Stubbs LLP, Office, Denver, Colorado 80,000 SQ FT • Rocket Labs/ASI, Office, Littleton, Colorado 40,000 SQ FT • Micron, HQ Office, Boise, Idaho 218,000 SQ FT

• BT (British Telecom), Office, Denver, Colorado 9,500 SQ FT • PointsBet, U.S. HQ Office, Denver, Colorado 16,000 SQ FT • Udemy, Office, Denver, Colorado 28,000 SQ FT • Sashco, Industrial Manufacturing Plant and Office, Thornton, Colorado 128,000 SQ FT • Biodesix, Lifesciences R&D Lab and Office, Boulder, Colorado 80,000 SQ FT • MD Pain, Medical Treatment Center, Centennial, Colorado 10,000 SQ FT • Arrow Electronics – Various Global Office/Lab/Distribution Centers totaling over 700,000 SQ SF

Professional Affiliations • NAIOP • CoreNet

Education • California State University, Chico, Bachelor of Arts

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Kenneth Carpenter Senior Managing Director Greystone Real Estate Investment and Advisory Management Charlotte, NC Kenneth.Carpenter@greyco.com

Background Mr. Carpenter is currently a Senior Managing Director with Greystone leading its real estate investment management business. Over his 25-year real estate career, Mr. Carpenter has directed the strategy and execution of multiple real estate advisory and investment platforms with particular expertise in corporate-owned real estate and various tenant financing solutions. Mr. Carpenter has advised or invested in over $12 billion of corporate real estate transactions including sale-leaseback, build-to-suit lease, credit tenant lease, synthetic lease, and real estate term loans for public and private companies comprising over 18 million square feet of industrial, office, healthcare, retail, and special use properties. Previous leadership roles include serving as Managing Director, Head of Real Estate Capital Markets at Cantor Fitzgerald; Managing Director, Head of America’s for Deutsche Bank’s Asset Finance and Leasing group; and, Managing Director, Global Head of Corporate Real Estate and Asset Finance for Wachovia (and later Wells Fargo). Prior to Wachovia, Mr. Carpenter was a Vice President with Deutsche Bank in their commercial real estate finance group and a member of the investment banking group at NationsBank (which became Bank of America). Mr. Carpenter earned a Bachelor of Science degree in Computer Science from Rochester Institute of Technology and a Master of Business Administration from Wake Forest University Graduate School of Management.

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REQUEST FOR PROPOSAL

6. Transactions: Provide a list of all commercial sales and/or leasing transactions that occurred any time during the five (5) year period beginning January 1, 2017 and ending January 1, 2022 wherein the firm, the Managing Principal or other real estate professional(s) on the proposed team were involved as the Tenant Representative. The total number of transactions that the firm, the managing principal, and other real estate professionals have completed over the proposed time period is in excess of 18,000, so it’s too long to list and the data is confidential. However, we provided a summary below of the top 5 largest engineering firms and their existing brokerage relationships. Additionally, we provided a summary of Top 5 largest tenant representation transactions that have occurred in the southeast suburban market over the past three years and the brokerage firm that represented each company. This data is directly from the Engineering News Record (ENR) and the Denver Business Journal.

RANKING

COMPANY

REPRESENTED BY

#1

#2

#3

#4

Multiple Providers

#5

RANKING

COMPANY

REPRESENTED BY

SIZE

ADDRESS

12500 Belford Ave. Englewood, CO

#1

391,240 SF

6801 S. Tucson Way Centennial, CO

#2

287,407 SF

6200 S. Quebec St. Englewood, CO

#3

282,000 SF

10055 Trainstation Cir. Lone Tree, CO

#4

252,000 SF

9501 E. Panorama Cir. Centennial, CO

#5

250,000 SF

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REQUEST FOR PROPOSAL

7. Provide the number of professional service providers represented by the firm. As one of the world’s largest real estate services providers, C&W’s client roster is vast. The following data may paint a picture of the scale of our operations.

• We manage a portfolio of nearly 13,000 properties worldwide on behalf of approximately 5,000 clients.

• Our Project Management group completes about 10,000 projects on behalf of a diverse range of occupiers and real estate investors.

• We value about 75,000-80,000 properties a year on behalf of property owners.

• From a brokerage perspective, we typically assist clients in more than 40,000 transactions a year.

Some of our clients we work with on an ongoing basis while others we work with on a transactional basis. In any given year, we are actively working on behalf of tens of thousands of customers.

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REQUEST FOR PROPOSAL

8. Business References: Provide a minimum of five (5) business references from clients for projects of a similar size and scope. (at least two (2) of which preferred to be professional services providers).

DAVIS GRAHAM & STUBBS LLP Kristen Lentz Managing Partner Kristin.lentz@dgslaw.com (303) 601-2206 Experience – 75,000 SF HQ

VAIL RESORTS James O’Donnell President of Mountain Division jodonnell@vailresorts.com (303) 404-6415 Experience – 160,000 SF HQ

COMPUTERSHARE Kevin Heitz Head of Strategic Cost Management Kevin.heitz@computershare.com (303) 999-5586 Experience – 282,000 SF Regional Office

BOOM SUPERSONIC Anne Fenice VP of Business Operations anne.fenice@boom.aero (316) 737-1041 Experience – 290,000 SF HQ

VF CORP Rob Koch Senior Director of Real Estate rob_koch@vfc.com (336) 424-7682 Experience – 280,000 SF HQ

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REQUEST FOR PROPOSAL

9. Provide the number of buildings managed in the Denver market. Cushman & Wakefield’s Denver Asset Services team is dedicated to providing comprehensive real estate services throughout the asset life cycle. Focused on enhancing asset value, our professionals are empowered to minimize operating costs, improve efficiencies, and enhance customer service in order to protect and maximize the value of each investment. Cushman & Wakefield manages more than 20 million square feet on behalf of corporate, institutional, and private clients in Colorado. Experience gained from these assignments, combined with our global platform and access to numerous other commercial real estate services, allows for accounts tailored to each client’s unique operational priorities and financial goals. Cushman & Wakefield’s Denver Asset Services team is dedicated to providing comprehensive real estate services throughout the asset life cycle. Focused on enhancing asset value, our professionals are empowered to minimize operating costs, improve efficiencies, and enhance customer service in order to protect and maximize the value of each investment. C shman & Wak field manages more than 20 million square fe t on behalf of corporat , institutional, and private clients in Colorado. Experience gained from these assignments, combined with our global platform and access to numerous other commercial real estate services, allows for accounts tailored to each client’s unique operational priorities and financial goals.

20.1M+ square feet under management

135+ assets under management

40+ clients served

125+ asset services professionals

10. Litigation: Provide a list of any outstanding litigation in which the Firm, Managing Principal and/or Real Estate Professional(s) is a named party.

C&W is not involved in significant litigation that will impact on our ability to provide services to B&M. C&W is involved in the type of civil litigation routine to a national, multi-disciplined real estate services provider, including pursuing routine accounts receivable actions and responding to routine disputes. Based on legal counsel, it is C&W’s policy to keep all civil claims confidential. C&W is not a party to any criminal or administrative proceeding, nor to the best of its knowledge is C&W the subject of any criminal or administrative investigation. Management also certifies the resolution of any issues will not materially affect C&W’s financial results or operations. C&W carries general liability, automobile, workers compensation and EPLI insurance coverage. C&W employs full-time specialists in workplace safety, insurance and risk, human resources, compliance, as well as in-house legal counsel.

C&W is not a party to any criminal or administrative proceeding, nor to the best of its knowledge is C&W the subject of any criminal or administrative investigation or involved in an current litigation that if decided against us would have a material adverse effect on our business or our financial health. As an employer with more than 50,000 employees servicing hundreds of clients at more than 20,000 work sites globally, C&W is naturally involved in some types of legal proceedings, including general liability and discrimination claims. Many or most of these proceedings are covered by Insurance policies, settlement agreements or other restrictions requiring confidentiality. It is a condition of our Insurance policies that we are not permitted to disclose details of claims or indeed conditions, wording and excesses within our insurance policies; however, we can state that we do not regard the level of claims as excessive relative to our activities and to the size of our global business.

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REQUEST FOR PROPOSAL

11. Provide a detailed description of the proposed management structure, including but not limited to, team organization, roles and responsibilities, program monitoring procedures, and communication mechanisms to deliver scope of services. The C&W platform was customized to provide our clients customizes solutions regardless of the size and scope of the assignment. Furthermore, the Account Lead (Steven Billigmeier) will not simply hand-off assignments to the Account Team or service associates, but rather will truly drive all of the services offerings with the Account Team to make sure they are aligned with the broader strategy. With the right people in the right roles, and consistent processes ready to be implemented, we can hit the ground running and get to work right away. Based on our current understanding of Burns & McDonnell’s Denver requirement, we propose the following Account Team STEVEN BILLIGMEIER – ACCOUNT LEAD • Burns & McDonnell’s relationship manager and single point of contact - accountable for overall management and delivery of integrated C&W real estate services. • Establish close working relationship and provide consistent communication with Burns & McDonnell’s real estate team • Create and implement overall strategy to deliver a customized real estate solution • Ensure consistent processes and reporting are occurring across all services JOHN DEHARDT – EXECUTIVE OVERSIGHT • Provide strategic guidance and oversee the delivery of integrated services • Executive support of transition, strategy/direction, and escalation point • Foster collaborative partnership and brings insight into Burns & McDonnell’s standards and processes

STUART HOOD – WORKPLACE STRATEGY LEAD • Provide strategic advice and actionable recommendations on alternative workplace strategy, using data to build a comprehensive business case for all of Burns & McDonnell’s decisions • Utilize our proprietary Experience per Square Foot (XSF) survey tool to collect employee insight and data around Burns & McDonnell’s employee engagement and workplace drivers as one of the many tools to build a comprehensive business case for your workplace decisions • Work closely with Burns & McDonnell’s internal real estate and human resources teams to realize and implement Burns & McDonnell’s reimagined vision for the workplace ERIK PETERSON – PROJECT DEVELOPMENT SERVICES LEAD • Oversee all project management activity to ensure Burns & McDonnell’s short- and long-term strategies are implemented • Provide management oversight to all project management staff (dedicated and variable) • Ensure the project is managed and delivered on time, scope and budget KENNETH CARPENTER – CAPITAL MARKETS LEAD • Will be vital during the strategy development and execution of Burns & McDonnell’s significant and complex real estate transactions • Utilize structured financial products, involving tax, capital and accounting strategies to assist Burns & McDonnell in maximizing real estate value and execute transactions such profit participation, sale-leasebacks, synthetic leases, and any creative capital deal structure OLAN YOUNG – FINANCIAL ANALYST • Work closely with the Account Lead to run customized financial summaries of the proposals • Available to provide guidance to CFO on balance sheet implications for different deal structures

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REQUEST FOR PROPOSAL

12. Provide a detailed plan of the proposed approach and available tools to market and identify real estate options and the process for evaluating these options, and developing a short list and recommendations for review for the projected Denver office expansion. The following is a detailed outline for the three (3) phases (Design/Diagnosis/Delivery) our team will follow as part of a large HQ requirement. Additionally, we’ve highlighted the suite of technology tools we would utilize throughout the evaluation process on the subsequent pages. Typically, we would be engaged at least 18 months in advance of a lease expiration date for a project of this size, so if engaged we’ll immediately work with the B&M team to determine where we can cut time out of the schedule without compromising our leverage to drive the most value for B&M . We do believe we are uniquely positioned to execute this transaction in the most efficient and timely manner in comparison to our competitors for three distinct reasons: 1. Steven Billigmeier and John DeHardt have a long history of working with B&M, know all of the key individuals at B&M involved with real estate, and have negotiated all of the leases/expansions for B&M’s current facility in Denver. 2. C&W has the highest market share of large tenant rep transactions in the southeast suburban submarket. The local large deal experience will allow the team to leverage prior negotiations at many of the top properties in consideration. 3. The unparalleled experience by C&W’s Workplace Strategy team representing the largest engineering firms provides immediate access to industry trends and benchmarks.

DISCOVERY

DIAGNOSIS

DELIVERY

OBJECTIVE: To complete a deep dive of client’s objectives and develop a strat egy for the project. DURATION: 90 Days

OBJECTIVE: To thoroughly evaluate all options to formulate a recommended course of action DURATION: 120 Days

OBJECTIVE: To leverage all of the due diligence completed during the prior phases in order to maximize the best outcome for the client. DURATION: 270 Days until Lease Commencement

PROJECT KICKOFF MEETING

WORKPLACE STRATEGY STRATEGY

MARKET EVALUATION FINANCIAL & COMPARATIVE ANALYSIS

SPACE & BUILDING DUE DILIGENCE

NEGOTIATIONS

LEASE REVIEW & EXECUTION

PROJECT MANAGEMENT

LEASE AUDITING & ONGOING SERVICES

DEVELOPMENT

30 days INITIATIVE OBJECTIVE SCOPE OF SERVICES WORK PRODUCT DELIVERABLES

45 days

45 days

60 days

60 days

60 days

60 days

60 days

150 days

150 days

To establish and develop a framework for delivering a successful transaction

To understand current trends in workplace strategy and discuss a customized approach that works best for the client’s business objectives and budget.

To summarize prior findings to create strategies for maximizing success.

To complete a comprehensive survey of the market and filter through the options.

To analyze and have an in-depth understanding for the quantitative and qualitative aspects of the potential buildings.

To evaluate design and cost of the space plans in order to guide the schedule, budget, and negotiations.

To leverage market conditions and knowledge of the landlord’s position to achieve the most cost effective, beneficial, and customized office possible in line with previously defined objectives. 1. Engage in as many rounds of counter proposals as necessary to achieve desired

To finalize lease, space planning, construction budgets, etc.

To complete all construction, punch list items, and manage the entire move.

To limit real estate costs throughout the life of the lease through annual audits and manage key lease dates.

1. Engage C&W

1. Finalize construction documents 2. Manage and monitor construction 3. Coordinated weekly progress calls 4. Conduct architect/ engineer walk through and provide detailed list/report of contractor deficiencies 5. Initiate move coordination 6. Conduct post-move set-up and systems

1. Finalize space planning and pricing 2. Conduct word by word

1. Engage architect to complete initial space plans and pricing detail 2. Identify and refine construction budget and schedules based on pricing estimates from space plans 3. Building systems due diligence 4. Verify the workplace strategy has been implemented into space plans 5. Engage FF&E vendors

1. Distribute RFPs or proposals to candidates

1. Initial long list surveys of all on/off market opportunities 2. Identify candidate buildings 3. Conduct site tours DISCOVERY

1. Review market conditions and trends 2. Review and finalize

1. Define project goals and develop project vision 2. Document existing space utilization and production patterns via leadership interviews and employee surveys 3. Create strategy for future space utilization and generate corresponding space budget 4. Analyze how best

1. Review current lease situation 2. Discuss team members and their roles/ responsibilities 3. Establish preferred channels for correspondence and regular meetings 4. Define project schedule and timeline

lease auditor and administrator 2. Initiate annual lease auditing program that meet the clients specific needs 3. Actively review for errors in invoices and identify significant opportunities for savings 4. Review CAM, utility, and operating expense reconciliations 5. Upload lease dates into C&W’s Salesforce program to notify of key notice dates throughout the term of the lease • Salesforce Database Management • Lease Audit Summary Report (Annually)

DIAGNOSIS

DELIVERY

review of the draft lease document to

2. Initiate blocking plans with C&W’s workplace strategy team 3. Evaluate location and commuting challenges 4. Conduct comparative financial analysis 5. Schedule secondary tours as necessary 6. Determine short list

the agreed upon requirement and budget 3. Develop strategy

ensure that the terms negotiated are clearly set forth as agreed 3. Coordinate legal ensure that the terms negotiated are clearly set forth as agreed 4. Coordinate legal review with all parties involved 5. Execute lease and distribute originals 6. Follow up with estoppels, SNDAs, etc. • Consolidated Lease Comments & LOI Comparison • Fully Executed Lease • Lease Abstract - New Lease review of the draft lease document to

CLICK HERE for full size version

for maximizing leverage in the

market incorporating objectives reached by workplace analysis and financial goals. 4. Evaluate all alternative strategies including renewals and purchases Project Kickoff

Workplace Strategy

practices may apply to client’s goals and objectives

Strategy Development

Market Evaluation

• Project Management Report

• Fully Executed LOI

• Space & Pricing Plans • Architectural & Engineering Firm Evaluation • General Contractor Cost Comparison • Pricing Estimate Summary Space & Building Due Diligence

• Market Survey Book - Long List • Tour Books

• Request for proposals • Blocking plans • Location analysis • Quantitative & Qualitative Analysis

• Surveys & Assessments • Space Budget

• Market Report • Requirement &

• Kickoff Meeting Agenda • Lease Abstract - Existing Lease • Customized Project

Financial & Comparative Analysis

Strategy Summary

• Rough Order of

Magnitude (ROM) Budget Summary

Timeline (Discovery, Diagnosis & Delivery)

Negotiations

Lease Review & Execution

A “Project Strategy Report” that includes a comprehensive summary of the work product produced during the Discovery phase that will provide the guiding principles for the requirement.

A “Real Estate Brief” that includes a comprehensive summary of the work product produced during the Diagnosis phase that will provide extensive data to maximize the leverage during the negotiations.

A “Closing Book” that includes a copy of the fully executed lease, final financial analysis, lease abstract, floor plans, and primary contacts.

Project Management

Lease Auditing & Ongoing Services (Full Lease Term)

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2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

M O N T H

Signed LOI

Signed Lease

Lease Expires / Move Date

Kickoff Meeting

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REQUEST FOR PROPOSAL

ADVANCED REAL ESTATE MARKET DATA AND PROPERTY VISUALIZATION Prism, Cushman & Wakefield’s proprietary 3D market visualization solution, provides users with a unique perspective of commercial real estate to support location decisions. By generating powerful analytics, 3D visuals, and market data in real time via an intuitive dashboard, Prism enables users to explore real estate markets at the macro level all the way down to the individual building level with property information, stacking plans, available space, and even floor plans. PRISM BENEFITS • A real-time, interactive platform with the flexibility to produce custom real estate market and property views in seconds • Insights through filters and layers of robust data sets—both proprietary and through leading third-party data providers— including demographics, workforce analytics, amenities, transportation, services, drive times, and real estate market data • Flexible property search functionality to quickly deliver market comparisons • Quick access to building and floor-level data, including tenant, lease expiration, quoted asking rates and square footage

CLICK HERE to see Prism in action

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REQUEST FOR PROPOSAL

GEOGRAPHIC INFORMATION SYSTEMS TEAM Cushman & Wakefield’s Geographic Information Systems (GIS) team provides unparalleled geospatial advisory, analytics, visualization and technology solutions. Through innovative mapping design, skilled advisory services and trend-setting use of technology, the GIS team will help empower Burns & McDonnell to make better decisions.

Competitor Map ​View potential properties at a street level in relation to competitive users and current locations

Employee Location Map Create employee location maps with current and potential locations. Calculate geographic mean center of employees. Optionally show transportation routes

Drive Time Study Analyze drive time drive distance to current vs. proposed locations to estimate employee retention based on move. Show average drive time, employee estimated travel time and % increase or decrease in commute

Demographics Map Find the highest areas of demographics such as population or median income by block group, census tract or ZIP code for any area within the U.S.

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WHAT’S NEXT REQUEST FOR PROPOSAL

Cushman & Wakefield Brings You Intelligent Space Cushman & Wakefield’s partnership with Saltmine changes how your clients will experience workspace through intelligent programming and customized, realistic visualization of properties. Our Planning Services’ design team uses Saltmine technology to create test fits customized to a client’s unique needs in days, not weeks. The cloud-based platform allows designers to quickly modify layouts via an instant drag-and-drop process, and native 3D tours eliminate the need for additional renderings to uncover a property’s true potential. Cushman & Wakefield has partnered with Saltmine to deliver to our clients a digital property visualization platform that surpasses any that currently exists in the commercial real estate industry. The platform changes how our clients experience workspace planning. Using customized and realistic visualizations of properties, the tool empowers our clients to make space decisions faster and with more confidence. Our team uses the Saltmine technology to create test fits customized to a client’s unique needs in days, not we ks. The cloud-based platform allows us to instantly modify layouts and enables our clients to experience 3-D walk throughs of the space. The platform includes: • AI-powered programming • Interactive 3D test fit models, as well as 2D and VR design visualization • Automated quantity take-offs • Browser-based collaboration with clients and the C&W team

Saltmine will empower you and your clients to make space decisions faster and with more confidence.

CLICK HERE to see a Saltmine Walkthrough

Want to know more? Contact: PlanningServices@cushwake.com

See office space differently

Unrivaled technology links workplace strategy and design

Copyright © 2019 Cushman & Wakefield. All rights reserved. Publication Date 04.2019

cushmanwakefield.com

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REQUEST FOR PROPOSAL

13. Provide a compensation schedule for any non-commission fees due to the Broker and identify under what circumstances these fees might apply. C&W believes in a fully customized and comprehensive approach to pricing that is in alignment with Burns & McDonnell’s goals. We prioritize the partnership above all and seek to drive mutual success through our fee structure. The following table summarizes our suggested fee methodology; We will work with Burns & McDonnell to solidify this structure pending specifics on the scope of work. TRANSACTION MANAGEMENT There will be no fees due to C&W from Burn’s & McDonnell for Transaction Management services as these fees will be paid by the landlord for whichever building you select. However, C&W is proposed a fee rebate to Burn & McDonnell for a percentage of the fees paid to C&W by the landlord pursuant to the following schedule: C&W Commissions Incremental Fee Share % To Burns & McDonnell $0 - $100,000 5% $100,001 - $250,000 10% $250,001 - $500,000 15% $500,001 - $1,000,000 20% $1,000,001 + 25% The fee rebate that Burns & McDonnell receives can be applied at your sole discretion to the cost for additional C&W Services highlighted below or any other offerings that we can provide from our platform. WORKPLACE STRATEGY Please refer to Question #18 for additional info, but here is a summary of two potential workplace strategy offerings: Light Touch Services • Cost – $0 (Brokers will pay for out of transaction commissions - Value $50,000) • Timeline to Complete – 30-60 Days • Scope of Services – C&W Workplace Strategy team will leverage recent engineering firm HQ workplace projects to develop space scenarios, mobility mixes, and policy suggestions to quickly inform a go-forward strategy that works in agreement with B&M’s business objectives. Full Service • Cost - $140,000 • Timeline to Complete – 120-180 Days • Scope of Services – C&W Workplace Strategy team will build a baseline of workplace and workforce policies along with the development of a multi-step, proven process geared toward creating the optimal HQ of the future. The team will marry leadership objectives with employee sentiment and lead focus groups geared toward making sure the proposed strategy includes workstyles/personas for the entire employee population, creating site scenarios that reflect these new policies, and finally, implementing a change management plan to make sure we stick the landing.

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REQUEST FOR PROPOSAL

13. Provide a compensation schedule...cont’d PROJECT MANAGEMENT

Please refer to Question #19 for additional info on the scope of services, but the project management fees will range from $2.25/RSF - $3.00/RSF depending on the size and scope of the project. However, based on our prior experience working with Burns & McDonnell we understand the preference is to have the landlord hold the contract for all of the tenant improvement work and manage the build out, but Burns & McDonnell will likely require a local C&W project manager to oversee the landlord’s work and overall project. To that end, we would work with B&M to develop a custom pricing structure that is reflective of the time allocated to the assignment. Finally, there is a strong likelihood that Burns & McDonnell could sign a sublease deal where the space is nearly in plug/play condition, so the project management fees would be further reduced and reflective of a reduced size/ scope for the project. 14. Provide copies of any agreements that your company would require Burns & McDonnell to sign as part of engaging the brokerage firm and its principals. The following documentation is C&W’s standard tenant representation agreement along with the State of Colorado required disclosure language. This would serve as the template for the engagement agreement, but would need to be modified based on any additional services engaged (i.e. project management and workplace strategy) and then the final agreed upon fee share structure and preferred reimbursement structure.

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A PROPOSAL FOR

REPRESENTATION AGREEMENT - AGENCY

THIS IS A BINDING CONTRACT. THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. COMPENSATION CHARGED BY BROKERAGE FIRMS IS NOT SET BY LAW. SUCH CHARGES ARE ESTABLISHED BY EACH REAL ESTATE BROKERAGE FIRM DIFFERENT BROKERAGE RELATIONSHIPS ARE AVAILABLE WHICH INCLUDE BUYER AGENCY, SELLER AGENCY, TRANSACTION-BROKER, LANDLORD AGENCY, OR TENANT AGENCY.

REPRESENTATION AGREEMENT

[Insert name of Client] (“Client”) appoints the brokerage firm of Cushman & Wakefield of Colorado, Inc. ("C&W") as its sole agent and grants to C&W the exclusive right to represent Client with respect to the acquisition of real property in [Insert geographic area] as provided below. 1. Term. The term of this agreement will commence on [Insert Commencement Date] and will expire on [Insert Expiration Date] . [ Upon the expiration of the term, this agreement shall automatically be extended on a month-to-month basis (“Extension Period”). Either party may terminate this agreement during the Extension Period upon thirty (30) days prior written notice by the terminating party to the other party. ] 2. Services. C&W will use its efforts to find, negotiate for and secure a location in the above geographic area satisfactory to Client during the term of this agreement. C&W will negotiate the business terms of any purchase and sale agreement, lease or sublease, as the case may be, on behalf of Client and in Client’s best interests. C&W will cooperate with other licensed real estate brokers. Client acknowledges and agrees that C&W is not responsible to determine whether toxic or hazardous wastes or substances or other undesirable materials are present at any property that ultimately may be purchased or leased, and Client further acknowledges and agrees that it is solely Client’s responsibility to conduct investigations to determine the presence of such materials. 3. Referrals. During the term of this agreement, Client will refer to C&W all inquiries and offers received by Client with respect to the acquisition of real property in the above geographic area, regardless of the source of such inquiries or offers. 4. Commission. Unless otherwise agreed in writing by Client, C&W will look only to the seller, landlord or sublandlord, as the case may be, for its commission. Subsequent to the expiration of this agreement, Client will continue to recognize C&W, for a period of twelve (12) months, as Client’s exclusive broker, in accordance with the provisions hereof, with respect to any locations that have been submitted to Client during the term of the agreement. 5. Representation of Other Parties. Client acknowledges and agrees that C&W may represent potential sellers, landlords or sublandlords and consents to such dual representation, provided C&W timely discloses any such dual representation to Client. Client also understands that C&W may represent other parties interested in acquiring space or property that may be submitted to Client and Client consents to same. C&W will not disclose Client’s confidential information to any of its other clients. 6. Fees and Expenses. If either party commences litigation against the other party to enforce its rights under this agreement, the prevailing party will be entitled to recover from the other party the costs and expenses (including reasonable attorneys' fees) incurred. 7. Authority. Client represents that it has the right to enter into this agreement and to consummate a transaction as contemplated herein. The individuals signing below represent that they are authorized to sign this agreement on behalf of the entity indicated. 8. Professional Advice. C&W recommends that Client obtain legal, tax or other professional advice relating to this agreement and the proposed purchase, lease or sublease, as the case may be, of real property as well as the condition and/or legality of any property, including, but not limited to, the property's improvements, equipment, soil, tenancies, title, environmental aspects and

This form has been prepared by C&W’s Legal Counsel. (5/1/18) THIS FORM HAS NOT BEEN APPROVED BY THE COLORADO REAL ESTATE COMMISSION

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A PROPOSAL FOR

REPRESENTATION AGREEMENT - AGENCY

THIS IS A BINDING CONTRACT. THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. COMPENSATION CHARGED BY BROKERAGE FIRMS IS NOT SET BY LAW. SUCH CHARGES ARE ESTABLISHED BY EACH REAL ESTATE BROKERAGE FIRM compliance with the Americans with Disabilities Act. C&W will have no obligation to investigate any such matters unless expressly otherwise agreed to in writing by Client and C&W. Client further agrees that in determining the financial soundness of any prospective seller, landlord or sublandlord, Client will rely solely upon Client's own investigation and evaluation, notwithstanding C&W's assistance in gathering any financial information. 9. OFAC. Each party represents and warrants to the other that it, and all persons and entities owning (directly or indirectly) an ownership interest in it: (a) are not, and will not become, a person or entity with whom a party is prohibited from doing business under regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including, but not limited to, those named on OFAC’s Specially Designated and Blocked Persons list) or under any statute, executive order or other governmental action; and (b) are not knowingly engaged in, and will not knowingly engage in, any dealings or transactions or be otherwise associated with such persons or entities described in clause (a) above. 10. Anti-Bribery & Corruption. Each party represents and warrants to the other that it (and any party acting on its behalf) has not, in order to enter into this agreement, offered, promised, authorized or made any payments or transfers of anything of value which have the purpose or effect of public or commercial bribery, kickbacks or other unlawful or improper means of doing business (“Prohibited Activity”) and will not engage in Prohibited Activity during the term of this agreement. In the event of any violation of this section, the non-offending party shall be entitled to immediately terminate this agreement and take such other actions as are permitted or required to be taken under law or in equity. 11. Miscellaneous. This agreement shall be governed by and interpreted in accordance with the laws of the State of Colorado, without giving effect to principles of conflicts of law. This agreement constitutes the entire agreement between the parties regarding the subject matter herein, and no amendments, changes or modifications may be made to this agreement without the express written consent of each of the parties. If any term or provision of this agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms and provisions of the Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. No failure or delay by a party in exercising any right hereunder or any partial exercise thereof shall operate as a waiver thereof or prohibit any other or further exercise of any right hereunder. This agreement shall benefit and be binding upon the parties and their respective successors and assigns. This agreement may be executed and delivered (including by facsimile, “pdf” or other electronic transmission) in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. 12. Broker Regulatory or Statutory Provisions. The following provisions must be included in brokerage agreements in the State of Colorado: C&W designates [Insert name of broker] (“Broker”) to serve as the limited agent of Client in the transaction(s) contemplated by the agreement. If more than one individual is so designated, then references in the agreement to Broker shall include all persons so designated, including substitute or additional brokers. The agency relationship exists only with the Broker and does not extend to C&W as the employing brokerage firm or to any other brokers employed by C&W who are not otherwise designated herein as Brokers. C&W, acting through Broker, must perform the following Uniform Duties when working with Client: a. Broker shall exercise reasonable skill and care for Client, including but not limited to the following: (1) Performing the terms of any written or oral agreement with Client;

This form has been prepared by C&W’s Legal Counsel. (5/1/18) THIS FORM HAS NOT BEEN APPROVED BY THE COLORADO REAL ESTATE COMMISSION

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