Two office towers of 7 and 9 stories totaling 240,000 square feet. An additional retail site was entitled and planned to enhance the property as a mixed-use project.
Reposition Asset: Implemented substantial mechanical and cosmetic refurbishment of the buildings. Revised common areas and tenant improvements to allow for smaller tenants. Added mixed-use retail component.
Results: Re-energized the leasing program and re-tenanted the space to achieve 97% occupancy. Sold the asset after physical improvements and releasing enhanced value.