Asset Manager Principal Real Estate Investors … states...places to grab a bite page 11 hotels page...
Transcript of Asset Manager Principal Real Estate Investors … states...places to grab a bite page 11 hotels page...
Accelerating success.
SUCCESS STORY150 SPEAR STREET, SAN FRANCISCO, CA
CHALLENGEIn September of 2009, Principal’s asset 150 Spear Street, had a vacancy rate of 41% in a submarket and competitive set of 16.4%. Tour activity was minimum and the Building had little to no identity in the marketplace.
STRATEGY• Recommended cosmetic upgrade to the
lobby to give more “technology-friendly” appearance.
• Create unique marketing pieces to focus attention on the Building and its location.
• Target market, directly to both tenants, and their brokers the specific suites available.
SERVICES • Consulted with owner and architect on
lobby renovations which included a interactive lobby screen.
• Designed, produced and distributed the 150 Spear Street Neighborhood Guide which is a pocket size book containing map, lists and descriptions of fine dining, casual dining, hotels and health clubs in the area.
• Suite-by-suite HTML email blasts and hard copy mailers to both tenants and brokers directly.
RESULTS Within 20 months ULP-SF rose the building’s occupancy level from 59% to 92% at rental rates 12% above expectations.
Increased the value of the building to $112 million (54%) over 20 months.
“I wanted to shoot you a quick note. Your team is doing a great job of bringing deals to our
building and converting opportunities into signed leases. The unique capabilities and
focus that Urban Landlord Partners brings to the landlord side of the table was a key reason
you won the business at 150 Spear, and you guys have certainly delivered. Thank you.”
Rob KlinknerAsset Manager
Principal Real Estate Investors
Neighborhood Guide Example
Created by Colliers International Created by Colliers International Neighborhood guide
Created by Colliers International Created by Colliers International 2
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An inside guide to the area's best:
fine dining page 5
casual eateries page 8
places to grab a bite page 11
hotels page 14
health clubs page 15
Created by Colliers International Created by Colliers International Created by Colliers International
On behalf of Principal Global Investors, we are pleased to present you the 150 Spear Street neighborhood guide.
Located in the heart of San Francisco's Spear Street corridor, 150 Spear Street is ac-cessible to a wealth of amenities, and some of San Francisco's best and most popular dining destinations.
We invite you to explore the city's finest dining and most popular dining destinations* all within walking distance from 150 Spear Street. *All restaurants included in this guide were rated a mini-mum of 3.5 out of 5 stars on a popular consumer website.
neighborhoodguide
3Created by Colliers International Created by Colliers International
801 Grand AvenueDes Moines, IA
URBAN LANDLORD PARTNERS
Scott Harper, Director/Senior Vice PresidentBrad Van BloisSenior Analyst/Associate
STATISTICS
• 17 new or renewal transactions
• 155,102 sf of transactions• Occupancy Rate from
59% to 92%
SERVICES PROVIDED
Landlord RepresentationMarketingMarket ForecastingValuation
www.colliers.com