| The Building |
16,000 SF, five floor, manufacturing facility built in the 1860’s and renovated to executive suite office use in the 1980’s. |
| The Challenge |
Vacancy was over 75% in a transitional area on the edge of the central business district (CBD) of a city with a population over 200,000 in a metropolitan market of more than 1,000,000. The CBD market office vacancy rate was 16%. |
| The Solution |
After considering the site’s unique features and location, the lease terms, pricing and marketing were changed to address an unmet need for entrepreneurial and small corporate office situations. |
| The Result |
In less than 12 months, vacancy was down to 15%. This site has maintained market level occupancy ever since. |
