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.
A local crossfit gym had been in business for several years but the capacity of their facility was not accommodating their growing membership. They were referred to Lowrey Burnett, CCIM by a previous, satisfied retail tenant. Having spent their days building their business and not keeping tabs on the current commercial real estate trends, they sought expert guidance on the pros and cons of leasing versus buying a commercial retail property prior to their upcoming relocation.
The Situation
While occupying a retail property with limited on-site parking, the owners of a Colorado crossfit gym realized their rapid growth had overwhelmed their small facility and was becoming a point of frustration for their existing paying membership. They needed to relocate to a larger facility that provided the necessary amenities and kept them close to their loyal members. Burnett was ready to help them analyze the lease versus purchase options and make the prudent financial decision for their business.
When a Houston-based industrial client, occupying an 80,000 square-foot distribution facility, needed more space for their Colorado operations, they knew the guidance of an experienced, local tenant representative would be important. Not only would they need to sell their current industrial property, but also simultaneously identify a new warehouse in a tight market, negotiate the terms of the lease, and relocate to a new, larger facility. They engaged CCIM-designated broker, Lowrey Burnett, to help them navigate the process.
The Situation
Upon outgrowing their distribution facility, the client engaged Lowrey Burnett to act as their representative for both the disposition of their current facility and the procurement of a larger lease space. In order to prevent any disruption to critical logistical operations, they needed Burnett’s expertise to seamlessly execute both transactions. Despite the challenges he faced, Burnett was prepared to navigate a complex set of circumstances under a timeline that supported the end goals of the business.
A publicly-traded insurance company made a management change to foster a dynamic and energetic culture in their Denver office. After years of flat or declining revenue growth and unacceptable turnover due to low employee morale, the new leadership knew that a transformation of the culture would require a multi-faceted approach.
The Situation
The client, an insurance company, enlisted the help of expert tenant representative, CCIM-designated broker, Lowrey Burnett, to help relocate the Denver operations to a new facility that featured great amenities and advanced technology. The leadership team believed this move would play a key role in facilitating a positive, cultural shift. The client was committed to effectively making a major shift which included very specific requirements for their new space.
A repeat client, who has spent several years in the commercial investment space, came to CCIM-designated buyer representative, Lowrey Burnett, when the investor was ready to expand his commercial real estate portfolio. He had specific investment return criteria and was prepared to scour the country for the right, positive cash flow commercial property.
The Situation
This search for an investment property came with unique criteria to ensure the new asset would align with the investor’s overall investment strategy. The buyer wanted a well-located, fully-leased, single-tenant asset that would support definitive investment yield requirements. There were high expectations for this investment property and Burnett was up for the challenge.
He identified several best-in-class investment options in various states and the client selected an ideal property in Florida. Burnett tackled the due diligence, negotiation and closing process head on.
In some cases, clients call upon a seller representative because their business is booming and they need to expand operations. In other cases, clients find themselves in a bind due to the negative changes in the economy and require our expertise to mitigate the downside exposure and investment risk.
The Situation
The latter was the case for the client, who owned and intended to occupy an office property. The downtown Denver, 8-story, multi-tenant office building was purchased with the intention of occupying 50 percent of the usable space, however as negative economic conditions persisted, this goal proved impossible. The impact on the client's portfolio necessitated the disposition of the 110,000 square-foot property. The client engaged Lowrey Burnett, a Certified Commercial Investment Member (CCIM), to quickly identify a buyer for the property at $4.8 million.
