Diebold Nixdorf Corporate HQ

Project Overview:

Rico A. Pietro, SIOR and David Leb of Cushman & Wakefield | CRESCO Real Estate were engaged by senior leadership at Diebold Nixdorf (“DN”) to set parameters that included a simultaneous disposition of its existing headquarters in Green, Ohio & sourcing a property for DN to lease which could accommodate the same employee headcount with a 60% reduction in total space.

Challenge:

Diebold Nixdorf spent the last 30 years expanding its corporate HQ in Green, Ohio by building additions to accommodate growth. Over time, this resulted in an oversized, inefficient, single occupier building and a largely separated workforce with limited collaboration because of functionally obsolete real estate.

Solution:

Cushman & Wakefield | CRESCO Real Estate worked alongside DN to evaluate their existing real estate, and executed a plan to reduce DN’s existing annual occupancy cost by utilizing best practices for corporate headquarters. We managed a team of service providers including architecture, engineering, incentive consultants, project management, and brokerage.

We sourced the future HQ property in Hudson, Ohio, selected a preferred developer, and negotiated an above-market disposition price for the existing HQ, as well as below-market lease terms for the new HQ space in Hudson.
All service providers were curated by Cushman & Wakefield | CRESCO Real Estate with specific direction to design/deliver a budget which was fully vetted by Diebold Nixdorf.
The architect team was provided strict design parameters to meet the allocated dollars to construct the premises.

Community incentives were based on a specific gap that was needed to accomplish both the sale and leaseback of the new campus. Lastly, the legal team drafted the final purchase agreement and lease agreement with the appropriate contingent conditions to allow lead time for the pieces to be put together.

Results Achieved:

The final result was a new flagship HQ in Hudson, Ohio with highway visibility, at a 47% discount to new construction, delivered on time and on budget. The disposition price of the Green, Ohio asset was at a 34% premium to original vacant expectations. All this was accomplished without any public disclosures until Diebold Nixdorf was ready to go public with the real estate move.

We were pleased to be able to keep the entirety of the transaction and multiple steps involved in relocation of a world HQ under the cloak of confidentiality, and proud that we accomplished the client’s objectives to sell their existing location and relocate into an efficient new flagship headquarters in Hudson.