Case Study
Table of Contents
Page 1- Table of Content with Introduction
Page 2- Trinity Office Park
Page 3- Indian Trail Shopping Center
Page 4- Carter Center
Services Offered
√ Property Marketing
√ Comprehensive Leasing
√ Maintenance
√ Rent Collection
√ Property Inspections
√ Tenant Representation
√ Landlord Representation
√ Buyer Representation
√ Seller Representation
Organizational Introduction of Tenant Science
Metro Atlanta Retail, Office and Industrial Landlords are covered by the commercial property management services offered by Tenant Science. Since 2014, our only priority has been to produce performance that improves the income of commercial buildings while increasing their value and offering tenants a great place to do business. We have commercial property management down to a science.
We are a collection of experts that put in a lot of effort to ensure that our customers get the best talent, service, and advice possible. We are grateful to manage dozens of Retail, Office and Industrial buildings in Metro Atlanta, each one has its own growth story, Please take some time to go over our three real case studies in order to have a better understanding of the various advantages that working with our skilled professionals may provide.
Trinity Office Park
(Past Experience & Performance based on Real Situation)
Before Taken Over by Tenant Science
• 30% occupied 16,257 Sf of a 56,193 Sf Office Park including 3 buildings.
• Loss of the major tenants Emory Hospital due to maintenance issues.
• Cash flow losses against 70,000 Sf space revenue.
• Outstanding water bill of $56,000.
• Building income stands at $12,000 per month not cash flowing.
• Former agent made one small lease in 3 years.
After Take over by Tenant Science in 2016
• Sold a cell tower lease to pay for repairs.
• Supervised roof repair, installed a backflow prevention system, fixed parking lot lighting and asphalt..
• Fixed various plumbing problems and a leak beneath the parking lot to comply with county rules.
• Divide large spaces into executive offices to meet area demand, established a brand identity for the office
park and allowed numerous tenants to thrive and produce revenue and evicted nonpaying tenants quickly.
• Aggressively promoted and showcased vacant spaces.to prospective tenants.
• Within 9 months, 90% of the park was leased.
• $56,000 water bill converted to credit $2,500, due to 6 months of hard negotiating by Tenant Science.
• After one year, we were fully rented and have had a waiting list ever since.
• We added $3 million to the building's worth, and the owners are thrilled.
Financial Highlights of Trinity Office Park
| Description off Delivered Services | Before Acquisition by Tenant Science | After Acquisition by Tenant Science |
|---|---|---|
| Office Space Occupied | 16,257 Sf | 54,193 Sf |
| Property Occupancy Rate | 30% | 100% |
| Value of property | $1,800,000 | $ 4,825,000 |
| Net Annual Property Income | $144,000 | $386,000 |
Indian Trail Shopping Center
Indian Trail Shopping Center
Before Taken Over by Tenant Science
• Center had two tenants, namely a restaurant and a church paying $ 4,120 per month and no CAM.
• 30% occupancy rate.
• Roof trusses were collapsing on the main building making most of the vacant spaces unrentable..
• Owner Paying 70% of operating expense which was $ 4,000 per month.
• No repair work initiated.
After Taken Over by Tenant Science
• We sourced, hired, supervised and provided subcontractors for a general contractor while he repaired the roof trusses and the walls that were bowing.
• Aggressively advertised, showed and leased remaining space to high quality tenants.
• Monthly rental increased to $ 16,890 in the initial 9-month period.
• We were able to negotiate with the owner’s insurance company for a new roof at no expense to the owner.
• Instituted a CAM Charge to pay for common area expenses, taxes and insurance.
Financial Highlights of Indian Trail Shopping Center
| Description off Delivered Services | Before Acquisition by Tenant Science | After Acquisition by Tenant Science |
|---|---|---|
| Annual Net Income | $ 49,440 | $ 202,680 |
| Property Occupancy Rate | 30% | 100% |
| Operating expenses | 70% paid by landlord | 100% paid by tenants CAM Charges |
| Value of property increased by | $ 618,000 | $ 2,533,500 |
Carter Center
(Past Experience & Performance based on Real Situation)
Before Taken Over by Tenant Science
• Property was fully occupied at above market rents.
• 28,478 Sf Full-Service Office Building.
• The condition of the property was adequate for the area.
• The owner was searching for a way to increase income.
After Taken Over by Tenant Science
• We contacted the tenants and leased them space on the outside of the building for signage.
• Generated additional income of $ 9,572 from signage selling.
• Income is now $ 36,921 within short period of 4 months.
• Value of building after renovation and building repair increased by $ 1,000,000
Financial Highlights of Carter Center
| Description off Delivered Services | Before Acquisition by Tenant Science | After Acquisition by Tenant Science |
|---|---|---|
| Monthly Rentals | $27,349 | $ 36,921 |
| Property Occupancy Rate | 100% without Signage | 100% with 80% Leasing Signage |
| Value of property increased by | - | $ 1,000,000 |
