A UNIQUE BUILDING. LEASED QUICKLY.

SITUATION

  • High vacancy at time of engagement
  • Location was perceived to be too far from restaurants and retail shopping

STRATEGY

  • Developed customized marketing campaign to position the project’s location as the new center of Coral Gables upon completion of the mixed-use project across the street
  • Positioned and promoted building’s unique contemporary design and unique features such as first rooftop terrace in the submarket
  • Implemented a proactive and aggressive canvassing program

RESULTS

  • 90% leased with quality tenants in less than a year from engagement
  • Sold within two years of delivery to institutional investor achieving less than a 5% cap rate at $24.5 million