In depth experience in CRE Asset Management, repositioning and strategic execution.
Position Your Assets
- Strategic planning and organized execution
- Property operations
- Lease negotiations
- Financial management
- 3rd party oversight
- Business Plan creation or refinement to meet objectives (SWOT analysis)
- Renovation planning and project management
- Optimization of available capital for maximum benefit
- Management and leasing team selection
- Acquisitions and dispositions
- Underwriting and due diligence consulting
- Coordination and planning
- Brokerage
- Receivership for lenders
- Portfolio management
CASE STUDY: A 100,000 sf building, which was built in the 1970s, was built on top of a five story parking garage. The street level entrance sat 35’ back from the street up under the 2ndfloor of the garage and was difficult to find unless you knew it was there. The building had not been updated in many years; however, the submarket was one of the most desirable submarkets in the city. Therefore, rates in the building were significantly below the potential market. In addition, we owned only the air rights. The street level of the building was owned by a TIC and there were two tenants occupying that floor.
CASE STUDY: A three building portfolio consisted of two large buildings on a campus totaling 475,000 sf with occupancy at 86%, and a third, smaller building in reasonable proximity totaling 80,000 sf, which is 42% leased. In the larger building, there is a nationally recognized 100,000 sf tenant who is vacating at year end. Their departure was unanticipated in underwriting, therefore no money was allocated for re-leasing costs. In addition, there was another 53,000 sf nationally recognized tenant in bankruptcy, but who had indicated their intent to stay in the project.