NXT 50_RFP_BHFS_5.29.19_Link

50 PORTFOLIO: ASSESSMENT, MANAGEMENT & REPORTING Response for C.2.

Once the C&W team has reviewed the portfolio documents and organized their assessment, we will organize a 120 day Getting Ready Phase. This Getting Ready Phase essentially prepares the firm’s administrative leadership and the C&W team to develop the portfolio management plan and any recommendations, threats or opportunities that the firm’s administration would like to present to Executive Committee. Essentially, C&W and the Brownstein administrators are Getting Ready to present the Shareholders with a Playbook for all Brownstein office spaces. The Playbook might be as simple as basic guidelines about location, efficiency metrics, financial metrics and a narrative about the firm’s vision for their workplaces. The Playbook might also become very specific and actually address Business, Operational and Financial Drivers for making decisions about the firm’s office space that move Brownstein to a much more consistent and uniform approach in each of it’s markets. Finally, the Playbook will establish the financial metrics to be applied in every market so that Brownstein can establish consistent analysis for every office measuring the financial drivers by attorney/policy maker, by shareholder, by equity vs. income shareholder or any other metric Brownstein desires to measure. FINANCIAL DRIVERS

• Real Estate as a % of Revenue • Per Attorney Occupancy Costs • Equity Partner Cost & Impact • Capital Costs & Funding • Un-depreciated Capital Costs

• Lease Securitization • Generational Influences • Long- and Short-Term Profitability / Impact • Succession Planning

Portfolio Key Drivers

BUSINESS DRIVERS

OPERATIONAL • Other industries & client demands • Right sizing & ratio changes • Growth/reduction strategies • Space & lease flexibility • Competition • Business growth & development • Business synergies • Competitive fee structures

• Retention & recruiting • Brand & image • Risk management • Profitability

• Culture &

generational issues

• Millennial impact • Real estate supports business

LegalSectorAdvisoryGroup|ADVISINGFOREXCELLENCE lSectorAdvisory Group |ADVISING FOR EX LLENCE

GETTING READY: FIRST 120 DAYS

Develop Brownstein Playbook for office space.

DEVELOP PRESENTATION

• Hoteling & remote working • Training/technology • Paper management/ elimination • Streamlined operations = increased profit margins

• Consensus building to effect change • Millennial impact • Desensification

CONTENT/ METRICS/ STRATEGY

ARCHITECT INTERVIEWS

PRESENTATION TO FIRM

BUILDING TEAM

TheCushman& WakefieldWorkplaCe Will supportsuccess ,noTTrends. drivenbyresearChonhoWourprofessionalsaCTuallyWork,a numberof private,enclosedspaces areneCessaryforheadsdoWn, foCusedWorkonbehalfofClienTs. PRODUCTIVITY isa teamsport .assuCh,ouroffiCesmusTunloCkThe poWerofcollaboration. ourWorkspaCesWilloffer seTTingsToaCCommodaTe varyingTeamsizes,ClienTConfidenTialiTy, andbusinessdevelopmenT. COLLABORATION Conferencerooms Commonspaces 40%Occupied 75%FocusedWork 37%Out 6%Unassigned 17%Away 30%Occupied Average meeting size:3-5 54%Reserved The clientexperience Willbe TailoredToeaChofourguesTs, beginningWiThasuperiorWelComerivalingThaT of a bouTique hoTel. C&WWorkplaCesshouldbeComeTheir professional“secondhome.” CLIENTS TheyWillprovideemployeesWiTh engaging and Compelling experienCes,CreaTinganenvironmenTWhereTheyCandeliver World-classresults onbehalfofClienTs. EMPLOYEES ourWorkplaCesWillbeThe envyofthe industry.

CUSHMAN&WAKEFIELDMANIFESTO

COLLABORATION SPACES club cushman

utiliZationstudies summary: * • Focusedworkwasobserved 88% of the time inoccupiedcubicles • Whenoccupied,officeswereutilized 14% of the time formeetings • Conference roomswereoccupied 30% of the timewhilebeing reserved 54% ofthe time • Theaveragemeetingsize inconference roomswas 3 to 5 people • Theemployee loungewasutilized 80% of the timebyanaverageof 3 to 5 people

1.2BACKGROUND |FINDINGS -UTILIZATIONSTUDIES

theneW cushman& WaKefield: ourWorkplaCe obJeCTives

120 DAYS

CommerCial realestate • Adynamicworkcafe thatcreatesanon-site thirdplace toencourage employeesandclients tomeet,work,network,socializeand re-energize. It transforms the traditionalcafeteria realestate intodestinations for connection,collaboration,and innovation recommendations: • Officesdesigned tosupport focusedworkandmeetingsofup to5people • Workstationsdesignedwithoptions tosupportdifferentworkstyles includingheads-downandcollaborativework • AvarietyofHuddleRooms&TeamRooms thatarenot reservable to support impromptumeetings,andanumberofmedium to large ConferenceRooms thatcanbe resrved • 2 to3peopleHuddleRooms&4 to6peopleTeamRoomsaredistributed throughouteachneighborhood

Utilizationstudy

Workstations

offices

47%Occupied

refocusinGc&Wculture

1.1PURPOSE |REFOCUSINGTHEC&WCULTURE

17%Away

T

28%Out

NEXT 30 DAYS (60)

FIRST 30 DAYS

settinGs:

E A M K I C K - O F F M E E T I N G

8%Unassigned

transforminG theWorld WorKs , shops , lives theWay and

CLIENT IMMERSION

activityWhen in

FOCUSROOM

Workstations

offices

employeelounge

FoCUs Sharegenerously Compete ferociously

SMALLGROUPMEETING

80%Occupied

88%FocusedWork

Averagenumber ofpeople:3-6

CHaraCter Entrepreneurial Collaborative Expert Transformationl Genuine Passionate Influential Personal

LARGEGROUPMEETING

6%MeetingwithOthers

14%MeetingwithOthers

DevelopedbyDesignRepublic

22

10%On thePhone

20%Vacant

PRESENTATIONROOM

17%On thePhone

strateGyforchanGe thenewoffice featuresanenhancedclientexperiencewithClub Cushmanat itscenter.theopen,collaborative,activity-based workplace isgearedperfectly toCushman&Wakefield’sneeds.

Cushman&WakefieldWorkplaceStrategyPlaybook | DevelopedbyDesignRepublic

70%Vacant

1.2BACKGROUND |FINDINGSVSTRENDS

* thesenumbersbasedoffof theaveragefindings from the following threeoffices:sanFrancisco,Chicago,&NewYork

BelieFs •Ourculture,ourbrand,ourpeople,andour workplacemustbe theenvyof the industry

DevelopedbyDesignRepublic

12

NEXT 60 DAYS (90)

• ‘ClientOnly’ imperativedemands thatweorganizearound themandconnect toallofourservicesandgeographies • Every touchpoint isanopportunity todriveourdistinctionand strengthen the relationshipwithourclients •Deep localandglobalknowledgecreatessignificantvalue for ourclients • Everyoneofuscan leverage thepowerofCushman&Wakefield •Adiversityofbackgrounds,culturesandexpertise inspires breakthrough innovations • It iseveryperson’s role tohelpcolleaguesbe thebest theycanbe •Relentlesscuriositydeliversunseenopportunities •Alonewearegood–togetherwearegreat

GreatestCHalleNGe

*This is our C&W Playbook, as our client’s playbooks are confidential.

Wewant tobewinning thedominant shareof the top10opportunities in localmarketsby theendof2017 Private,enclosedoffices forup to15%of the population.Onesizefitsallat120sq ft:

DAY 1

A largeofferingofcollaborationsettings,ofvarying sizesandplacesettings toaccommodatedifferent meetingpurposesandstyles:

sPirit Winning together

FINANCIAL

10%FocusRooms

7 36% IndividualWorkspace

DevelopedbyDesignRepublic

15%EnclosedOffices

45% Open 45% Open

29%CollaborationSpace

55% Enclosed 55% Enclosed

75%OpenSeating

29%Circulation

6%Support

READY TO GO

• Real estate as a % of revenue • Per attorney occupancy costs • Equity partner cost & impact • Capital costs & funding

• Un-depreciated capital costs • Lease securitization • Generational influences • Long and short- term profitability/ impact

• Succession planning

185 RSF targetspaceuseperseat

1 .25:1 collaborationspaceto individualworkspace

DevelopedbyDesignRepublic DevelopedbyDesignRepublic

14

TEAM KICK- OFF MEETING

LEASE MANAGEMENT COORDINATION

PORTFOLIO METRICS REVIEW

COORDINATE FIRM PRESENTATION

VISION SESSION

ARCHITECT RFQ’S

UPDATE PORTFOLIO METRICS/ STRATEGY

LINK TO FULL SAMPLE

Legal Sector Advisory Group | ADVISING FOR EXCELLENCE

Cushman & Wakefield | Brownstein Hyatt Farber Schreck

25