CBRE and Sprint have enjoyed a successful partnership since 2008, when the wireless giant first outsourced its real estate services to CBRE. That assignment included management of 2,000 locations with 18 million square feet in commercial, retail, call center and technical facilities, and annual operating costs of $380 million. CBRE quickly reduced operating expense by $35 million and optimized Sprint’s headquarters in Overland Park, Kansas, to free up space that eventually generated $10 million in annual sub-lease revenue. CBRE also launched nationally recognized energy-saving measures. With these foundations in place, Sprint now wanted to move the CBRE relationship up the value chain, from one built on driving cost savings to one focused on facilitating innovation, strategic growth and greater revenue for both partners.
CBRE’s legacy of performance, reliability and transparency created a high level of trust, and inspired senior executives to come together to identify ways to use Sprint’s technologies to more effectively deliver CBRE’s real estate services. The result: An award-winning, mobile site-assessment application that significantly improves the speed and accuracy of the facility-inspection process. The tool propels the adoption of wireless technologies in real estate, creating new opportunities for driving business growth and revenue within Sprint, and reduces costs of real estate services delivery for CBRE. The two companies are now partnering with third-party technology firms and real estate service providers to accelerate the development of new wireless apps throughout the industry.