The Challenge

The Northwestern Mutual Financial Network consists of more than 7,800 financial representatives in 350 offices nationwide. Northwestern Mutual has been providing financial services since 1857 and is the leading provider of individual life insurance.

As a national financial service provider with 350 offices, Northwestern Mutual Financial Network chose CB Richard Ellis - Buffalo to act as its Tenant Representative.

Northwestern Mutual Financial Network had occupied space for over ten years in what, at one time, was a premier class A, central business district office building. The challenge for CB Richard Ellis - Buffalo, was to look at the change in demographic conditions effecting Northwestern Mutual Financial Network's client base. The goals was to locate a new office which was convenient to their client base and their professional agents. Another important factor was choosing a location that projected the image necessary for a leading financial service provider.

The real estate services had to be coordinated between Northwestern Mutual's corporate real estate department and the local General Agent.

CB Richard Ellis worked with Northwestern Mutual's real estate team and the local General Agent to identify the characteristics (image, design, amenities, etc.) that the Western New York office needed. At the same time, CB Richard Ellis worked with Northwestern Mutual's General Agent to identify the areas of concentration for its client and agent bases. Finally, CB Richard Ellis put together an initial site list identifying potential office sites which fit the needed criteria across each of the potential market areas.

Although the preliminary office site list identified possible locals in each of the Western New York office sub markets, the study of Northwestern Mutual's client and agent bases found that the demographics of these bases had shifted over the past ten years. The major concentration of client's and agents was now in the eastern sub market.

CB Richard Ellis identified all of the potential sites in this sub market, which fit the needs of Northwestern Mutual Financial Network and developed a RFP process to solicit proposals for each site. After performing a financial and qualitative analysis for each response, three sites were chosen to begin negotiations. CB Richard Ellis represented Northwestern Mutual Financial Network in the negotiations with each landlord.