Inside Success, Behind The Scenes
Introducing Deal Stories
Our Deal Stories provide an inside look at the way we view, evaluate and ultimately meet the needs of our Clients. From Investors and Property Owners to Business Owners and Tenants, we serve with passion and excellence.
San Antonio Oaks
CHALLENGE: Fill a shopping center that was 30% occupied in less than a year.
RESULTS: Filled to 94% occupancy and an increase in property value that was deemed impossible over the previous 11 years.
CHALLENGE: The class B+ building was experiencing cashflow shortages in spite of a steady occupancy over 90%.
RESULTS: Foresite worked with the ownership in notifying the tenants of the amounts due, the reasons why, and collected the entire amount of overlooked income.
CHALLENGE: The center featured below market rents and above market occupancy.
RESULTS: Due to the unlikely ability of the tenancy to pay the doubling NNN charges, the risk of the largest tenant not renewing due to industry issues, and the risk of environmental liability, the purchaser dropped the contract and bought a different property that offered a better return and significantly less risk.
CHALLENGE: The primary challenge for this space relocation was mostly driven by economics. Office rental rates in the suburban Washington state submarket where the company leased space for their writers had appreciate greatly in the five years since their last lease renewal and they were experiencing sticker shock from the rental rates then prevailing in the market...
RESULTS: After performing multiple Market Availability Studies in the months leading up to their lease expiration date, we recommended to Corporate that they allow the lease for their current space to expire and not relocate to new space. The results were very happy employees and a total cost savings to the company of about $300,000.