Case Study #1
2 Building Office Campus with 2 tenants
328,000 SF
Cerritos, California
Increased Property Value by approximately $10 million / $800,000 increase in NOI
Background: New owner brought CREDE in as Property Manager upon acquisition of the assets. After reviewing leases and doing our due diligence on the property, it was determined that there was approximately $800,000 in annual revenue that was not being billed to the tenants for HVAC and over standard electricity usage, nor was the income included in the owners original underwriting.
Case Study #2
Office Building with 45 tenants
158,000 SF
San Jose, California
Background: New owner brought in CREDE to asset manage the property upon acquisition. CREDE’s team worked with the owner and brokers to increase rents by an average of $10 psf/year over a 3 year period, while retaining occupancy at an average of 90% over those same 3 years. Tenant retention ratio was approximately 75%.
Case Study #3
Retail and Office Building – 25 tenants
250,000 SF
Las Vegas, Nevada
NOI more than doubled since CREDE took over Asset and Property Management
CREDE was hired as the Asset and Property Manager in 2010. The CREDE team worked directly with the owner and the brokers to increase occupancy in the retail sector from 37% to 85% and in the office sector from 45% to 85% from 2010 to 2015 when the owner sold the property. CREDE continues to asset and property manage for the new owner and has increased occupancy in the retail sector to 95%. Retail rents have increased to date from $21.14 psf/year to $25.00 psf/year and office rents have increased from $15.35 psf/year to $18.35 psf/year.