In June 2019, Jared Laake and Richmond Collinsworth with Bradford Commercial Real Estate Services were tasked with leasing-up Highland Park West which was only 35% occupied at the time and had large, non-functional suites that had been vacant for many years.
The team needed to find creative solutions to lease up the building and bring new life to vacancies that had been empty for over 3 years.
- Replaced outdated marketing materials with updated and complete listing information
- Hired a professional photographer and videographer to further enhance marketing materials.
- Collaborated with ownership to make updates to the building:
- Updated common areas.
- Replaced outdated ceiling tiles in corridors and added much needed new LED light fixtures.
- Updated HVAC system.
- Constructed two new spec suites to showcase new building finishes.
- Thoroughly cleaned and removed debris/storage from vacancies so they show better on tours.
- Hired a new landscaper.
- Created floor plans that would have 2nd and 3rd generation benefits.
- Conducted an extensive boot-on-the-ground campaign taking the updated marketing materials to businesses in the area
Within 8 months, Bradford was able to sign 7 new deals and bring the building from 35% to 70% occupancy with an average lease term of 5 years. In addition, the Bradford deals had base rents substantially higher than existing tenants and brought in a tenant mix of business professionals that ownership desired.
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