① Breckenridge Exchange
ATLANTA, GEORGIA
Challenged by a lack of capital and revenue, the property owners and management were overwhelmed and had not kept up with any necessary repairs or basic maintenance. The property looked run-down and neglected. No new leases had been signed in two years. Tenants had lost all confidence, resulting in unpaid rent amounting to tens of thousands of dollars.
REGAIN’S APPROACH: Spend a Little. Get a Lot.
REGAIN met with the tenants and property manager and surveyed the property. Based on their experience with similar situations, the REGAIN team and principals saw the opportunity to offer many low cost, high impact improvements that would offer increased curbside appeal. REGAIN painted all the curbs, which instantly improved first impressions. Bushes were cut back, and the entry sign was power washed, buffed and waxed. REGAIN had seasonal flowers placed at the property entrance for maximum impact. REGAIN undertook a few impactful projects to demonstrate their responsiveness and show immediate, visible progress to tenants.
RESULTS: Happy Tenants. New Leasing.
The REGAIN team reestablished tenant confidence and boosted new leasing efforts. The owners saved tens of thousands of dollars in legal fees. Through these efforts, the REGAIN team was able to lease more than 30,000 square feet of new space over the next eight months in a market with an approximately 20 percent vacancy rate. This property’s value was enhanced, placing the owners in a much better situation.
