Office park was perceived as dated, disconnected and lacking amenities and a “cool” factor.
The portfolio buildings were burdened with numerous contraction and termination options making it susceptible to unexpected increases in vacancy.
STRATEGY
Rebranded and reintroduced the park as Waterford Business District.
Launched phased spec suites program and strategic renovations.
Implemented a series of new tenant programs that enhanced the tenant experience and created a vibrant campus setting.
Proactively engaged with all tenants to develop relationships with key decision makers to increase tenant loyalty.
RESULTS
Increased both ask and take rates by 30%.
Significantly decreased contraction and termination option concessions over the entire portfolio – Today only 3.5% of tenants have options vs. 20% when Blanca was first engaged.
Leveraged unmatched central location, new amenities and tenant offerings to position WBD as South Florida’s premier business park, attracting numerous new tenants from all other major South Florida office submarkets.
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