PROVEN PERFORMANCE
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Situation
- Merge (previously named Avalon Center) had a reputation of lacking amenities and identity.
- Two of the largest tenants, comprising three full floors, had recently vacated the project upon lease expiration.
- The property lacked curb appeal and was in need of an exterior refresh, lobby renovation and elevator cab remodel.
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Action
- Completed 47,212 SF of new leasing and 22,284 SF of renewals in 90 days, increasing occupancy to 84% immediately after renovations were completed.
- The building was repositioned and rebranded to Merge, giving the building an identity and making it a destination where tenants wanted to be.
- Implemented low-cost, high-impact renovations in the lobby including painting, flooring, feature walls, furniture, lighting and artwork. The elevator cabs were also modernized. High-end renovations immediately gave Merge an appearance that was reflective of its competitive set.
- The exterior repainting increased freeway visibility.
- Replaced the monument sign at the entrance of the project.
- Executed a cost-effective marketing campaign to reintroduce Merge to the market. The campaign included branded marketing materials, email blasts, a new website, and cold calling tenant rep brokers.
- Converted a full floor into a multi-tenanted floor, complete with three spec suites and an executive patio.
Results
- Merge is now positioned as a destination and an accessible building catering to tenants with a work force in both Orange County and Los Angeles.
- Increased occupancy from 42% to 84% leased within 90 days of the completion of renovations in 2017 and increased to 100% leased in 2019.
