CREDIT SUISSE FIRST BOSTON
ELEVEN MADISON AVENUE
1995 THROUGH 1997
Credit Suisse First Boston’s lease at Eleven Madison Avenue constituted the largest NYC lease in 1995. Moreover, this project represented the largest single corporate relocation in 1996/97, and the largest NYC relocation for the ten years prior.
Meehan was retained as the relocation consultant for this project in November of 1995. Reporting daily to the Project Director, Mr. Luther L. Terry, Junior, we were responsible for the planning and coordination of all relocation aspects of this project. Credit Suisse relocated approximately 2,600 staff members from four midtown locations into approximately 1,600,000 square feet at Eleven Madison Avenue. An additional 600 people relocated into approximately 200,000 square feet of additional space in May 1997.
During this project, we were able to introduce an innovative concept regarding mover bidding and subsequent contract negotiation. This process was unique to our industry at that time, and ultimately resulted in a moving contract for this client, which was negotiated at approximately $.70 per square foot. Meehan adopted this method in 1995, enabling us to achieve negotiated moving contracts for our clients that are consistently average far less than $1.00 per square foot. These negotiation results are far less than industry average and we have no peer in this regard through today.
Accordingly, this assignment was clearly a pivotal point in our growth process. The credibility we gained in managing this landmark project, added unparalleled credibility and qualified us for engagement for future opportunities to manage the most substantial and prestigious projects in NYC going forward. Accordingly, we duly recognize the importance of this project and how Credit Suisse contributed to our foundation as the leading relocation consultants in the industry.
Dennis Meehan was also engaged by Credit Suisse in 2011 to assist in pre-qualifying, bidding and contracting on-call moving companies for this client’s substantial ongoing annual churn activities.