Hampton Court

streamrealtyCASE STUDIES, DALLAS, OFFICE, PROPERTY MANAGEMENT

Hampton-Court-01

Hampton Court

Dallas, TX

Property rental rates increased from $20.75 to $26.00 per square foot.

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SITUATION

  • Building had numerous deferred maintenance items in need of repair.
  • The finishes were outdated and filled with brass accents throughout building.
  • The property lacked curb appeal.
  • Tenant retention was low, and lease rates were averaging $20.75 per square foot.

ACTION

  • Deferred maintenance items were prioritized and methodically staged to reduce impact on operating expenses.
  • An aggressive capital campaign was put in place to remodel common areas to improve property appearance.
  • The landscape was redesigned to create focal points and draw attention to the property and improve curb appeal.
  • Through aggressive negotiations on electricity rates and corrective mechanical operations, Stream was able to save $0.74 per square foot on electricity expenses.

RESULTS

  • Property rental rates increased to $26.00 per square foot.
  • The property sold within 28 months of purchase, ahead of the targeted disposition and above landlord expectations for return on investment.
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