KeyBank Cleveland Campus Restack - Tiedeman Campus.
In 2010, with Vocon as their strategic analysis partner, KeyBank began a series of restack and renovation initiatives that positioned KeyBank to look at optimizing occupancy at their owned facilities, ultimately providing them with an opportunity to renegotiate an early lease renewal at Key Tower for a lower square footage, resulting in significant cost savings.
This complex project featured the redesign of multiple floors and the relocation of employees across three locations – the Tiedeman Operations Facility consisting of 2 buildings owned by KeyBank; the historic Higbee Building where KeyBank is an anchor tenant occupying 3 full floors; and Key Tower where they remain an anchor tenant even at their reduced final occupancy of 14 floors.
The Tiedeman Operations Facility, which was completed in June 2014, is an owned space. To maximize KeyBank’s investment in this important piece of real estate, Vocon fully optimized the location with the redesign of three floors at the site and relocation of 550 Higbee Building employees, which enabled the facility to become the home of KeyBank’s Technology, Operations and Call Center groups. The Technology group practices 40% mobility – the most aggressive adoption in KeyBank to date.
By integrating a mobility plan with progressive workplace strategies, Vocon enabled KeyBank to reduce vacancies by 10%, transform corporate culture and reduce the average square footage per person. The aggressive and comprehensive approach by the team is also brought the overall Project to completion 2 months ahead of schedule and $4 million under budget.
Upon Project completion, KeyBank has realized a reduction in its overall Cleveland HQ Campus footprint of approximately 200,000 SF which will contribute to a total of $5 million in savings per year, over the life of their new lease.