The lease of a single-tenant building of 335,000 s.f. was going to expire within 24 months. The market indicated that there was no demand for a 24ft ceiling building of +300,000 s.f. to be solely occupied by 1 or 2 users.
Our approach to building value for this specific asset included three key steps:
Within 2 years of managing this property, we subdivide the property into 8 units and as a result of a multi-faceted marketing strategy the property is presently 95% leased.