Summary: Asset & Property Management Assignment
Bonnett Properties, LLC contracted Compass Commercial Property Management in August of 2011 to provide asset management services for a portfolio that included overseeing the management of a five building Class A office campus.
At the time of taking on the assignment, the client’s existing portfolio stood at 56% occupancy with a number of leases on a month-to-month lease or with leases coming due within months. When Compass Commercial Property Management took on the assignment, at-risk tenancy translated into 24% effective stabilized occupancy.
Objective
Bring the portfolio to full occupancy and efficiently manage the properties within the portfolio to enhance the client’s investment.
Result
Following a detailed review of the portfolio, Compass Commercial Asset & Property Management presented a comprehensive portfolio management and marketing strategy to the client with clear goals to help maximize the portfolio’s assets. The team’s professional execution of the plan quickly enhanced the value of the portfolio, and effective marketing of the property achieved desired results. Within thirty months, Compass Commercial Property Management brought the portfolio from 56% to 92% occupancy. Today the portfolio is at 100% occupancy with long-term leases in place and high rents. We have enjoyed a 100% renewal rate of all tenants within the entire portfolio.
Compass Commercial Team:
Asset & Property Management: John Keba, CPM®, ARM®
Brokerage: Peter May, CCIM, Darren Powderly,CCIM, Jay Lyons, CCIM