Client

Unum

Location

Worcester, MA

Project Scale

200,000 gsf

Remodeling and relocating.

Unum retained Colliers Project Leaders to conduct a feasibility study for the firm’s real estate in Worcester. Currently, Unum’s 700 employees work in its 385,000 square foot complex, which because of its age, operates above market operating costs, requires significant capital expenditures and is inefficient in terms of its space usage.

Unum asked Colliers Project Leaders to compare its current annual occupancy costs per employee on a net present value basis to a variety of alternatives. We analyzed numerous scenarios including selling all or a portion of the complex, demolishing the complex and building a new facility on the site, and relocating to a number of other properties. We surveyed the market and determined seven possible relocation sites. Ultimately thirteen different scenarios were modeled for Unum, including a disposition strategy for the entire complex.