An experienced developer engaged our managing partner, Nick Terry, to market a vacant 3.5 acre suburban land site to prospective tenants that desired a purpose-built facility. Nick arranged for top-tier creatives to generate a realistic building rendering and HD drone video to showcase the project. These assets were combined through an intelligent targeted marketing campaign using data from proprietary prospective tenant database. During the initial term of the assignment, a lead tenant was secured for a 10,000sf build-to-suit in the rear portion of the site. Mailers and The tenant, an indoor sports facility, also leased addition land to serve as youth sports fields and signed a longterm lease.
As construction began on the first building, the owner speculatively broke ground a multi-tenant grade level building. This building was fully leased within 60 days of delivery, even in the face of citywide rising vacancy.
Objective Outcomes
- Long-term lead tenant secured to kick-off new business park
- Multi-tenant building fully leased setting record rental rates
- Owner benefited from diverse tenant business mix to decrease risk
- Project completed and full ahead of comparable properties despite starting 18 months later
