Challenges: Friedman was retained to reposition this asset in the spring of 2012. At the time the property was 19% occupied and had just lost its second and third largest tenants totaling nearly 20,000 square feet. The property’s passé exterior and older lobby finishes were making the property unnoticeable and difficult to lease.
Solutions: Friedman’s design experts created a remodeled facade including an inviting canopied entrance, renovated lobbies, a new entrance highlighted by exposed aggregate concrete and a complete landscaping makeover and parking lot replacement including new concrete curb and gutter islands.
Results: With the transformation complete, Friedman was able to expand the building’s largest tenant by more than 14,000 square feet and extend their lease term an additional 10 years. Leasing activity at the property continues to be strong.