Securing Credit Tenants in a Time of Recession

SITUATION

• Building delivered in the midst of the recession
• Nearly 800,000 square feet of new competitive office supply delivered
• No pre-leasing

STRATEGY

• Focused and targeted canvassing program to secure credit anchor tenant
• Proactive positioning of the asset’s location and unique urban experience connecting it to the vision of CityPlace

RESULTS

• Secured 95,000 SF anchor tenant within 6 months of engagement
• Reached 95% occupancy within months and maintained occupancy above 90%
• Procured Related Group to enter into a JV agreement with ShomaGroup to develop CityPlaceDoral