2149 South Holly, Denver
The Challenge
The owner bought this property through a large brokerage firm and then retained them to manage the building. HealthOne was the anchor tenant and the building owner wanted to keep them as tenants. A few months later, frustrated by the brokerage’s poor communication, construction management, and cost containment, the building owner decided to move the account to Bartell Meitus Real Estate. Our challenge was to build trust with this client and their anchor tenant HealthOne, as well as bring revenues up and costs down.
The Solution
We immediately started building trust by taking personal responsibility for the building’s performance. Looking through a building owner’s lens, we oversaw improvements, gaining efficiencies where possible. We replaced the HVAC system, bought the adjacent land and built a parking lot, and landscaped the entire complex. Because of these and other timely improvements and good communication, we were able to influence HealthOne to take the remaining space in the building. Within three years an appraisal showed that the improvements and full occupancy by a prime tenant had increased the building’s value 170%.