commercial property development case studies

Commercial Property Development Case Studies

 

commercial property development case studies Aurora Square | Shoreline, WA | BEFORE

Aurora Square | Shoreline, WA | BEFORE

commercial property development case studies Aurora Square | Shoreline, WA | AFTER

Aurora Square | Shoreline, WA | AFTER

RETAIL – Aurora Square
Prior to our involvement in 1999, Aurora Square was a struggling 130,000 square foot retail center. With multiple large vacancies driven by the Ernst Hardware bankruptcy and the consolidation of Rite Aid, Aurora Square had a 46% vacancy rate. After reviewing market demographics and area demand, we presented a solution to the property owners enabling them to work with a local, family-owned grocer to develop a one-of-a-kind grocery store at the site. After extensive negotiations with city personnel, lenders, tenants, owners, and even a few Feng Shui experts, the multimillion dollar revitalization project was completed within a year. Utilizing just $40,000 of the owner’s money we were able to create a center that stands as a landmark for the city of Shoreline and is exceeding all expectations.

Estimated Value Gain $1,500,000

 

commercial property development case studies Tacoma1
RETAIL – Tacoma 1
After reviewing the future possibilities for a soon-to-be vacant Tacoma retail site in 1999, we suggested that the owner make exterior color and facade changes to increase curb appeal. We also suggested a resizing of the spaces available to better accommodate higher demand, at the time, from smaller tenants. With the increased curb appeal and more appropriately sized tenant spaces, we were able to fully lease the property at significantly increased rents.

Estimated Value Gain $300,000

 

commercial property development case studies Fauntleroy Square | Seattle, WA
MIXED USE – Fauntleroy Square
In 1998, this Fauntleroy Square property was suffering from below-market rents and 50% vacancy. After taking over the property management responsibilities, we suggested that the owner, in addition to making some cosmetic improvements, relocate a current tenant within the building and break up larger spaces into smaller, more leasable ones. The property was fully leased within six months at significantly higher rents.

Estimated Value Gain $350,000

 

commercial property development case studies Forestservice
OFFICE – Pacific Cascade Building
Through re-creating a lobby, corridors, and improving curb appeal, we were able to take a former government-occupied building and transform it into a dynamic, visually appealing professional office building within 14 months.

Estimated Value Gain $750,000

Comments are closed