Repositioned As Premier Office Park in South Florida
SITUATION
Office park was perceived as dated and lacked amenities.
25% vacancy and large tenants were rolling over the next 12 to 24 months.
STRATEGY
Recommended strategic renovations of the common areas and new amenities that were approved and implemented.
Launched customized branding, marketing and leasing program; identified and solicited credit tenants with leases expiring in 12-24 months and retained the key tenants that were expiring.
RESULTS
Repositioned as the premier office park in South Florida.
Secured more than 160,000 square feet of leases over an 18-month span while increasing rents by 11%.
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