ECR was hired to provide marketing services for the Hills Office Park in April of 2010. At this time, the property had experienced a significant exodus of tenants, resulting in an occupancy rate of 40%. Further, nearly every remaining tenant was on a short-term lease set to expire in 2011.
ECR developed and executed a focused and proactive marketing strategy targeted towards the brokerage community as well as directly to tenants in the area. The strategy consisted of the following:
Utilized ECR’s in-house marketing resources to create attractive new marketing materials boasting the building’s location, quality and amenities.
Updated the floor plans for the property to better showcase and manage new leasing efforts.
Strategically executed an email and direct call campaign targeted towards Austin’s office leasing professionals to spotlight the Hills Office Park.
Proactively called and emailed tenants to introduce the opportunity to office at the Hills Office Park.
Worked with the ownership to create and stage ready-to-deliver office suites within the property.
Developed an effective and consistent property tour for prospects through the property which highlighted the attributes and best suited spaces for the building.
The ECR team’s hard work, creativity, and determination has helped lead to the leasing success of the Hills Office Park.
The Hills Office Park
ECR executed new leases within the property immediately after commencing marketing efforts for the Hills Office Park. Several successes for the property are as follows:
Within nine months of listing the property, ECR executed nine new tenant leases (five of which were direct with the tenants) to raise the property’s occupancy from 40% to 98%.
At the recommendation of ECR, increased the building’s rental rate by over 11%.
Extended and restructured tenants’ leases within the project to stabilize and disperse lease expiration dates at the project ranging over six years.