4700 Mueller

Client’s Goal

• The ownership purchased 4700 Mueller from a vacating owner-occupant and needed to find replacement tenant(s) as soon as possible.

Challenge

• ECR took over marketing and leasing of the 47,000 SF Class A office building when its prior owner-user was planning to vacate.
• Difficult market following the global pandemic.
• The ownership invested significantly in lobby renovations, exterior landscaping & surface parking to modernize the building.

Strategy

• Created high-end, custom marketing collateral to showcase building improvements, abundant nearby amenities surrounding its prime Mueller district location, the new ownership, on-site amenities including a 1st floor conference center, 3rd floor private patio, and parking.
• Created plans to show how each floor could be divided for multiple tenants.
• Reached out to each active commercial real estate broker in the market to discuss the project and share information.
• Targeted and pursued active tenants in the market.
• Created a value tour experience at the property, including a marketing center.
• Efficient and effective negotiation through finalization.

Results

• Execution: 3 favorable leases were executed within 9 months of hiring in a difficult post-pandemic office market.
• March 2022 – 12,484 RSF leased for 10 years
• July 2022 – 17,134 RSF leased for 7 years
• August 2022 – 3,727 RSF leased for 5 years
• Full occupancy of an entirely vacant building resulted in a building sale in February 2023.