The responsibilities of a commercial real estate landlord are extensive and when you own multiple large properties, fulfilling the marketing and leasing responsibilities that make your investments highly profitable becomes even more challenging. More often than not, the daily efforts of an experienced landlord representative can significantly improve your long-term financial outcomes. That’s the decision this Texas-based client made and it paid off in spades.
The Situation
The client owned multiple Class A and Class B multi-tenant office properties in 6 major cities, including Dallas, Texas. They engaged Lowrey Burnett to handle the commercial real estate portfolio marketing and leasing duties. They wanted to ensure an experienced professional was actively working to keep the multiple properties leased to high-quality, credit-worthy tenants.
The Challenges
The client maintains their portfolio in a first-class manner but had some of the most stringent financial underwriting criteria compared to competitive property owners. This can be a major deterrent for tenants when considering various office space options.
Additionally, there were social and economic factors over the eight years Burnett was representing the property owner, including the Y2K fallout, 9/11 terrorist attacks (We Will Never Forget), and the early impacts of the 2008 financial crisis. With nearly twenty years of experience in the commercial real estate industry, Burnett was effective in his role as the landlord representative.
The Result
For approximately eight years before moving to Colorado, Burnett consistently kept the mid-rise and high-rise office portfolio leased to 85-95 percent capacity, despite intense market competition, economic headwinds, and other factors noted above.
The Stats
As the landlord representative for this Texas-based institutional landlord, Lowrey Burnett maintained an 85-95 percent occupancy rate across multiple Class A and Class B office properties in the Dallas area.
If your investment portfolio is underperforming and you want an experienced professional on your team to increase your occupancy and net operating income (NOI), contact the landlord representative at Fountainhead Commercial today.
