Part 1: Bringing portfolio insights to
real estate decisions
While space utilization rates are a vital
component of optimizing a real estate
portfolio, they can't be the only consideration,
or else agencies will miss better opportunities.
Tango Portfolio Strategy is a standalone
predictive real estate solution that empowers
agencies to explore and forecast how specific
decisions will impact the entire portfolio or
Lean Government
particular segments of it, as well as analyze
locations in relation to others and put them in
the context of your real estate data and
strategic options. It lets you understand likely
outcomes before you commit to decisions.
Here's how it helps you reduce and freeze the
footprint more strategically.
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Get a holistic view of your real estate data
Utilization data shows how well a space is
currently being used. But stakeholders need to
recognize that an underutilized building
represents underutilization within the portfolio
—it doesn't necessarily mean that this building
should be on the chopping block. Tango
Portfolio Strategy can help agencies normalize
broader strategic planning by providing better
visibility into high level real estate data, both for
individual leases and the portfolio as a whole.
Occupancy data and utilization metrics are
pieces of the puzzle, but costs, lease dates,
capacity, and even qualitative data like a
building's importance to the agency should all
influence what type of opportunity
underutilization presents. While getting rid of
the building may look like the easiest way to
reduce square footage, the best solution may
be to repurpose the building to eliminate other,
costlier facilities.
For example, perhaps an underutilized location
is more affordable to operate than one or more
well-utilized locations. You could increase the
savings by consolidating these locations into
the underutilized one, and then offloading the
more expensive (and now vacant) buildings.
Incorporating lease dates into the decision may
reveal that a building still has years before it's
up for renewal, whereas other nearby buildings
in your portfolio may be up for renewal this
year—so choosing to remove this building
means delaying the reduction in square
footage and costs, when repurposing it could
provide similar benefits much sooner.
In Tango Portfolio Strategy, you can import all
of this data from spreadsheets or wherever it's
stored, and add qualitative data like the
building's importance to the portfolio—if your
headquarters, sensitive locations, or historically
significant buildings are off the table, including
these details helps inform the possibilities you'll
see.
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