Bradley Company

Commercial Property Management

Services Provided

Full-service
Advisory & Brokerage
Commercial Property Management

Statistics

Eight (8) buildings
+20% increased occupancy

Client

Property Owners, Carmel Office Court

Client
Case Study

Office & Retail Property Management

Carmel, Indiana

Background

Bradley Company was awarded the management of this property after bidding for the assignment. The property was 59% occupied and consists of 8 buildings with office and retail tenants. The owner’s goal was to increase occupancy and reduce operating expenses.

Strategy

Management was challenged with providing a plan to address the concerns in a cost effective and timely manner to meet or exceed the owner’s goals and objectives. The first initiative was to make all vacant spaces presentable to effectively lease the property. Secondly, an evaluation was needed of the operating expenses and condition of all the buildings.

Results

Within 7 months, occupancy increased from 59% to 71%. Also in this short period of time there were several projects that were completed in order to rectify some deferred maintenance issues. The completion of the projects had a positive impact on the tenants and operating expenses were reduced. However, due to unpaid debt service on the property it was assigned to a receiver.

COMMERCIAL REAL ESTATE