PROVEN PERFORMANCE
-
Situation
- Building was purchased 67% leased as leasing was put on hold for 1 year due to potential user sale opportunity.
- Large 3rd floor vacancy contained heavy, outdated build out.
- 10% of the building was set to roll in 2017.
- Building in need of lobby remodel and exterior refresh.
-
Action
- To increase leasing marketability, the 3rd floor was repositioned as creative, open concept design appealing to the target tenant base.
- Lobby renovation renderings were included in marketing collateral, brochures and email blasts.
- Anticipated vacancies were marketed months in advance.
Results
- Successfully negotiated ground floor tenant renewal, increasing rental rate by 10%.
- Successfully leased newly vacated space with less than 60 days of downtime.
- Ultimately leased all vacant space in building to bring building to 100% leased in under a year.
