Two Class A Office Buildings Totaling 251,000 sf
We were engaged in connection with the sale and leaseback of the offices and mandated to convert the formerly corporate-owned property to conventional real estate ownership. This included the task of converting 80,000 sf of vacant space into a multi-tenant environment by installing multi-tenant security systems and instituting operating procedures for the staff to service multiple tenants. In addition, we reduced operating costs by negotiating new contracts with service providers and taking over operation of an on-site cafeteria and fitness center.
13,000 sf Class B Medical Building
This property has become the premier multi-tenant building in Woodmere under our stewardship. At the time of our engagement, management had neglected the property which had led to a deterioration of the building mechanical systems and common areas. As a result, tenant relations were severely strained. Our assignment was to stabilize this property. We negotiated with management to invest in the building and maintain tenancy. We renovated common bathrooms, carpeted and painted common hallways, installed all new HVAC systems, and upgraded the roof system. As a result tenancy remained constant and collection arrears dissipated.