HOLOGIC

COMPANY SYNOPSIS

Hologic is a leading developer, manufacturer and supplier of premium medical device products created for the needs of women throughout the world. In 2007, Hologic acquired Cytyc Corporation, doubling its employee base. As a rapidly growing company and operations throughout the United States and worldwide, Hologic turned to T3 to help coordinate the merger and manage their ongoing real estate strategy.

BUSINESS QUESTION

Experiencing explosive growth, Hologic recognized the need for a hands-on corporate real estate expert to help manage the real estate portfolio. T3’s Corporate Solutions Group was hired initially to implement a technology solution to assist Hologic in data management of their real estate portfolio and to review their worldwide real estate portfolio. Once the initial technology implementation project was deemed a success, T3’s role expanded to encompass a variety of aspects across the board, involving all Hologic real estate-related projects in the world.

APPLIED BUSINESS APPROACH

Beginning with the technology solutions project, T3 was tasked to identify and interview various lease administration companies as an agnostic representative of Hologic. After helping select the product that was best aligned with Hologic’s objectives, T3 manually evaluated and implemented every leased and owned facility and populated the data base, establishing an accurate and confirmed set of information that created the baseline for Hologic to begin evaluating their entire real estate portfolio. T3 identified areas of savings through the implementation phase, as well as necessary real estate changes. The most notable opportunity arose when T3 identified a tax abatement opportunity that resulted in a $400,000 savings to Hologic. Since the implementation of the lease management system, T3 has successfully completed multiple transactions in the United States and internationally. T3 continues to help Hologic identify available government incentives opportunities and consider sustainability and energy management upgrades to all of their leased and owned facilities.

T3 Advisors News

March 28th, 2014

Rimi Chakraborty Promoted to Senior Vice President at T3 Advisors

March 19, 2014 - T3 Advisors, a global real estate consulting firm, is pleased to announce the promotion of Rimi Chakraborty to senior vice president. In her new role, Rimi will focus on business and product development on behalf of T3’s Global Solutions Group. An expert in strategic real estate planning with in-depth knowledge of the financial impact of corporate real estate transactions, Rimi will continue to add immense value for T3’s clients as they seek to optimize t

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Thought Leadership Blog

March 31st, 2014

T3 Advisors Blog Series: Sublease vs. Direct Lease

Welcome back to T3’s Startup Blog Series! This topic is one that we are always talking about with clients: Should we sublease a space or go with a direct lease? What are the pros and cons?  In the resource below, we cover our thoughts that include considerations such as:  Timeframes Relationships Budget What has your experience been? Post a comment if you have chosen to go sublease vs. direct or vice versa. We’d love to hear from you!

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