Acworth Day Centre Working smart and hard to restore asset value When Brand Real Estate Services took on this assignment, the property had effectively zero long-term occupancy. Only a single tenant on a month-to-month lease occupied the main 14,600 square foot building. A 4,200 square foot outparcel was a revolvingdoor of unsuccessful restaurants. Before unsuccessful outparcel The owner saw an opportunity to lease up the center and sell it for a quick return. Brand Real Estate Services was engaged with this outcome in mind. Achieving our client s objective required a combination of innovative thinking and oldfashioned effort. Brand Real Estate Services took several crucial steps to re-position the property: Aggressive targeting of adjacent office and medical tenants. Touting improved visibility from the main road, Brand Real Estate Services shepherded the relocation of a pediatric practice, achieving a long-term lease with a creditworthy tenant. Tireless prospecting, cold-calling nearby businesses secured the second medical use tenant that brought the occupancy to 50%, creating synergy in the center. Flexible leasing to accelerate income growth. One short-term lease included a landlord s termination option, which allowed Brand Real Estate Services flexibility to market the space to a long-term tenant at higher rent. Creative thinking about the outparcel. The center s front door needed renovations badly. Brand Real Estate Services obtained a commitment to improvements, along with a 10-year lease at the top of the market, from a diner concept far different from the failed eateries of the past. After new diner Acworth Day Center is now 100 percent leased. Its income generation is so strong that the owner is holding the asset for longterm appreciation rather than selling for immediate profit.
Buford Village Working smart and hard to position for Investment Sale When Brand Real Estate Services took on this assignment the property was losing all of its first generation tenants and nearly all of the 23 Townhomes were vacant. Three failed restaurants and several closed boutique shops gave the center a negative reputation. The center had a total of 65,000 SF with 20,000 SF of vacant upper level office space that was crucial to the success of the project. The owner needed to fill up the center with quality credit tenants on long term leases for a good sale price in order to close out a syndication fund. Brand Real Estate Services was engaged with this outcome in mind. Before unsuccessful outparcel Achieving our client s objective required a combination of innovative thinking and oldfashioned effort. Brand Real Estate Services took several crucial steps to re-position the property: Aggressive targeting of successful local restaurant operators and retail service providers to replaced struggling first generation tenants. Improved restaurant and service providers provided the catalyst to fill the upper level office space with corporate headquarters offices. Tireless prospecting, cold-calling nearby businesses secured all of the occupancy in this development. The upper level office space was filled with several corporate marketing headquarters relocating from other buildings in the area. Targeted leasing to fix the highest possible starting rents on long term leases to maximize the value of the Leases for the best possible sale price. Creative thinking to find Corporate offices to relocate to the upper level spaces. The project was marketed as a Class B+ headquarters type facility for companies looking for lifestyle and ambiance. The Townhomes and restaurants were crucial to recruiting these special office tenants. After new diner Buford Village is now a thriving mixed use project with successful restaurants, boutiques, all the Townhomes sold and nearly all of the upper level office space leased. Twelve new leases for over 37,000 square feet were secured. The net effect was a successful sale of the property to an institutional investor.
Merchants Exchange Adjusting to micro-market shifts Located near Gwinnett Place Mall, this 23,500 square foot strip center was vacant. A combination of changing demographics and shopper preferences has contributed to a long decline for the entire submarket. Restore property to viability by leasing to locally significant tenants. Before blighted and obsolete The local consumer market has become increasingly diverse since the Gwinnett Place Mall area was originally developed. The Asian-American population in particular has increased dramatically. Revitalizing a property in this context required: Listening to the market to identify uses consistent with the trade area population s preferences. Targeting a key tenant to make the center a true destination. Brand Real Estate Services achieved this by signing Paris Baguette, a Korean-based bakery with a national presence, to a lease for a new 8,000 square foot flagship location. Reaching out to the Asian brokerage community to seek their input on the owner s vision and to spread the news among local retailers. Having secured the unique Clay Pot dining experience and the coveted Paris Baguette along with a strong general merchandise retailer, W/B sought a serviceoriented retailer to both round out the merchandising mix and minimize parking stress. This was accomplished by bringing in an experienced full service hair/nails/skin care retailer. After relevant and vibrant Merchants Exchange is now 100% leased, serving local residents with culturally relevant shopping and dining.
Oakbrook Plaza Maximizing ROI with thoughtful refurbishment Brand Real Estate Services was engaged in 2011 in the midst of declining occupancy and a long list of deferred maintenance items. The 25-year-old property needed several major upgrades to be competitive in the marketplace. Our client sought an optimal set of renovations to position the asset for sale. Building exterior Brand Real Estate Services took a multi-pronged approach to solving the building s challenges, addressing both capital and operating considerations, including: Modernizing core systems with more efficient equipment and processes. A multistack chiller replaced the obsolete unit, and the glass exterior was renovated to improve the look of the building. Prioritizing dollars toward high-traffic, high-visibility areas of the property with over $203,000 in upgrades. This included landscaping and parking areas on the exterior and furnishings, artwork, and finishes in interior common areas. Correcting management processes with upgraded access control, signage, elevators, and security protocols. Refurbished interior When Oakbrook Plaza went on the market in 2015, it garnered multiple competitive offers, assuring profitable payback for the owner.
Roswell Wieuca Shopping Center Easing client effort through competent stewardship Despite working with a nationally branded property management firm, this asset s ownership found itself mired in day-to-day operational minutiae that distracted from preferred pursuits. The center s owner needed a professional management team to execute operations effectively on its behalf. Roswell Wieuca Shopping Center exterior Brand Real Estate Services won the assignment by highlighting the institutional quality of its property management service, delivered with all the attention of a boutique shop. To deliver on this commitment, our property management team focused on: Building local relationships, not only with tenants, but also surrounding neighbors. For example, when Brand Real Estate Services learned of complaints related to the city s noise ordinance, we facilitated the transition to a new sanitation vendor that was more compliant. We also communicated to tenants about the importance of being sensitive to the neighborhood s concerns. Setting clear communication guidelines with ownership, including regularly scheduled personal calls to bring forward analysis and recommendations. This process accelerated ownership s decision making process. Connecting ownership to our Brand Real Estate Services professional network, offering them pre-vetted services at competitive price points. Freed from the daily headaches of property management, ownership now dedicates its time to higher and better uses associated with its core line of business.
Stonecrest Land sales Stonecrest is a master planned community in DeKalb County that consists of 1,100 acres of mixed-use property along the I-20 corridor east of Atlanta. The Mall at Stonecrest opened in 2001 with 1.3M SF of retail space anchored by Macy s, Dillards, Sears, JC Penney and a 16 screen AMC Stadium-seated Theatre. More than 1.2M SF of adjoining retail space opened in the first year. Our firm was chosen to sell the remaining acres of land surrounding the mall for retail, office, medical, hospitality and residential uses. The Mall at Stonecrest Land parcels were meticulously identified and marketed to a vast network of industry contacts. Intense prospecting, networking, on-site tours and negotiating took place. Hundreds of acres of land were sold from 2001 to the present while also attaining the highest land prices in the area for our client. The following businesses were added to grow the local economy: Retailers WalMart, Sam s Club, Target, Marshall s, Ross, Staples, Haverty s, Ashley Furniture, Rooms To Go, Jared Jewelers and many others in multiple retail centers Restaurants Olive Garden, Chick-Fil-A, Chili s, Smokey Bones, Applebee s, Olive Garden, KFC/Pizza Hut, Wendy s, Bruster s, Buffalo Wild Wings, Steak N Shake, IHOP and more Car dealerships Chevrolet, Carmax, Toyota, Mazda Medical uses Stonecrest Medical Promenade, Redan Dialysis Clinic, Kaiser Permanente (32,000 SF medical building) Other -- MARTA, Holiday Inn & Conference Center, Hilton Garden Inn, AmeriSuites, Fairfield Inn, Comfort Inn, Apartments, BB&T and more The remaining 180 acres are currently under contract to complete the project. Stonecrest Land