ECR was hired in January of 2013 to serve as the property’s commercial real estate brokerage firm to provide marketing and leasing services. The ownership had purchased the property in December of 2012 at which time the building had been neglected for years, was performing poorly with no occupancy, and in need of capital improvements both inside and out. With the property being overlooked by both brokers and prospects for years as a viable option for owners and clients, ECR was tasked at rolling the project back out to market bringing with it a fresh new look, proactive marketing efforts, and the dedicated attention required.
Through strategic planning and execution, ECR executed 3 leases at the property totaling 9,156 RSF at 12 Dupree within 4 months of being hired to lease the building. ECR was able to bring the building’s occupancy to 100% in late April of 2014, which had not been done at the building with the previous ownership. During this same period through strategic improvements to the property, ECR managed to increase the lease rates to $ 0.75 PSF for each suite which is above market rates for the industrial submarket of the Buda/Kyle area.
“The ECR team took a very proactive, strategic and creative approach to leasing our property. They helped provide advice and guidance for upgrading the vacancies to create a multi-tenant property that leased up quickly. Further, they achieved rental rates which met our ownership goals with quality tenants.”