Bonnie Stone Sellers — Crossroads Property
From 1989 2007, Bonnie served as head of the real estate group at McKinsey and Company, and for 14 years as a partner in the firm. In that capacity, Bonnie was involved in strategy and planning for the firm and clients globally. She:. Developed an occupancy strategy for McKinsey’s portfolio, and methods to reduce cost by more than $50 million annually, establishing performance metrics for property evaluation. Served real estate clients on strategy and organization issues, including development issues.
Saving Cost through a Decentralized Organization — Crossroads Property
As with most professional services firms, real estate was the firm’s largest nonpersonnel cost. The firm took 4 actions to rein in the cost. Defined a real estate policy rooted in values and professional goals. Instituted a top down approval process. Set consensus-driven space standards. Implemented various cost-saving levers. Occupancy cost per professional was reduced by 40% over the period of implementation.