Adobe Systems, Inc

San Jose, California

Employees: 6,794

Revenues: $3.158 Billion

Portfolio: 2.5 million square feet

Presence: US and worldwide

Business Summary:
Adobe revolutionizes how the world engages with ideas and information. For 25 years, the company’s award-winning software and technologies have redefined business, entertainment, and personal communications by setting new standards for producing and delivering content that engages people virtually anywhere at any time.

Adobe Objectives/T3 Role:
With the acquisition of Macromedia, Adobe significantly increased its New England employee base and real estate portfolio in New England. Adobe leases 360,000 square feet of office space in Newton Massachusetts. Adobe occupies approximately 80,000 square feet of the 360,000 sf. T3 was retained by Adobe/Macromedia in 2003 to embark on a strategy to dispose of 250,000 square feet of space in Newton.
In 2008, Adobe retained T3 to create and implement a strategy for a relocation of the 80-100,000 square of office space in suburban Boston.

T3 Results:
Cost Savings- T3 successfully disposed of the 250,000 square feet of space. T3 has structured over twenty (20) sublease transactions for Adobe/Macromedia yielding over $50 million in real estate savings.

On going Real Estate Projects- T3 strategically evaluated the suburban Boston office market for Adobe and is evaluating short-list of locations for a major Adobe operation.

Owners Rep- T3 has been retained by Adobe as “owner’s rep” managing all aspects of the relocation for Adobe including project team (architectural/construction) selection, liaison with Adobe internal team members, scheduling and budget coordination.