Shanghai Tower is an iconic skyscraper in China. Upon completion in 2014, CBRE will provide property management consulting services for Shanghai Tower. CBRE assembled an integrated, international team of professionals to win the assignment, and is currently providing advice on best-in-class management practices developed at similar assets worldwide. The architect and structural engineer for Shanghai Tower referred the client to CBRE because of its experience working on iconic skyscrapers, including Silverstein Properties' buildings. A CBRE team in New York, led by Mary Ann Tighe, CEO of the New York Tri-State region, secured the initial meeting with the developers.
"The client sought to reach out to global leaders representing major multinational corporations," Tighe said. "There is a broader set of issues related to populating a super tall structure. They include typical issues, like marketing, but they also include branding, regulatory issues, staging of interior construction and phasing-in of new tenants. These are issues that may be taken for granted in New York, London or Hong Kong, but are relatively new to the Shanghai market."
CBRE quickly assembled a global consulting team of professionals from Texas, California, Shanghai, Beijing and Hong Kong to craft the successful proposal, incorporating Chinese language and business protocols. The property management consulting group is now developing training programs, operating procedures and protocols for how the building will function when it officially opens in 2015.
"The client was interested in our Chinese capability, but also in experiences we had across the globe with buildings of comparable scale and complexity," said Tony Long, CBRE's Global President of Asset Services. "Our ultimate goal is to ensure Shanghai Tower is managed to international standards and we have systems in place that protect the integrity of the building and its maintenance as a Class A property going forward."
Shanghai Tower is "a great example of collaboration, utilization of best practices and global market intelligence," said Chris Brooke, Chairman and CEO, CBRE China. "We have a local team driving the day-to-day activity and a group of U.S. experts who come over regularly to offer best practices in managing Grade A, iconic, super tall office buildings. We have experts on sustainability, building mechanical systems, technical specifications and engineering who support local capabilities on the ground."
Shanghai Tower, designed by Gensler, will contain 574,000 square meters of world-class office, hotel, entertainment, retail and cultural venues, and provide 360-degree views of Shanghai. The tower is a model of sustainability. Shanghai Tower achieved LEED® Gold pre-certification and Certificate of Green Building Design Label, Design Phase from the China Green Building Three-Star rating certification, with an innovative design that reduces energy use and maximizes daylight.
"CBRE is advising the client on operational excellence and helping build the property management team to operate the tower to international standards," said Andy To, Executive Director, Asset Services, China. "Translating the language and culture to synchronize global best practices is complicated. We are marshaling the strength and expertise of the local teams and our broader international platform to meet the client's expectations—that's our competitive edge."
Jim Bilger, Senior Managing Director of Operations for Asset Services, said the client brought CBRE into the project at an opportune time. As the tower rises, "our mandate is critical, because many decisions are made on layouts and design and fine-tuning the construction," Bilger said. "Property management is an integral part of value creation, retention and tenant satisfaction. Our role is to ensure the tower meets the dynamic expectations of both the international and the evolving domestic tenants, and ensure leases are structured so the client has the ability to manage the property to the highest standards."
CBRE established a China Center of Excellence, a dedicated virtual hub so that professionals in different time zones and regions of the world can communicate seamlessly and align their assignments. "The way we are executing the assignment will become a model we hope to replicate in other locations in China and elsewhere in the world," said Bilger.