“Because of our local market knowledge and relationships, we can almost always generate above average rental and renewal rates.”
Steve Kaminski, President
Leasing and Marketing
Properties managed by Colonnade Management typically generate above average rental rates and a renewal rate that exceeds the industry average.
CASE STUDY
In May 2008 when we took over the management of a property, vacancy was at 76%. After we assessed the situation, recommended some enhancements, and tightened up management practices, the exodus of tenants stopped. In fact, we’re projecting that by 2010 the vacancy rate will decrease to 9.2%. In an environment where capitalization rates are stagnant at best, we increased the value of the property significantly.
How do we achieve the rates and realize the value we do?
- We understand local markets and rental rate trends. We know which properties have been successful, which haven’t been and why. We know where the potential is and how to position a property within its market.
- We keep our finger on the pulse of the industry. We make it part of our business to stay in constant contact with industry players: brokers, appraisers, other influencers, and even competitors.
- We have strong relationships with the brokerage community. Our relationships are professional but with a personal touch. In keeping with our best practices, we ensure brokers have the information they need when they need it to close a deal faster and easier.
- We create and implement marketing strategies specific to each property, which include setting marketing budgets for existing and anticipated vacancies and tenant retention. Our team of marketing professionals understands how to reach out to target audiences with the right messages and the right frequency, leading to results.
- We manage with the long-term vision of maximizing the value of a property. We understand that small investments can make a big difference to tenants … and subsequently to rental rates and occupancy. Tenants often say they want to locate in buildings managed by Colonnade. Read more about our building operations…
Leasing Services
- Develop and implement leasing and marketing strategies for your property, including tenant and brokerage events to highlight your building's features and create or maintain momentum;
- Prepare accurate and detailed reports on market activity as well as the status of prospects and lease renewals, space availability reports, among others;
- Develop a "constant contact" plan for existing tenants;
- Prepare lease proposals for prospective tenants;
- Create mail-outs and other promotional items;
- Prepare standardized lease documents that meet the governance policies of the owner while ensuring they are acceptable to prospective tenants;
- Negotiate offers, leases, amending agreements, and all lease-related documentation;
- Actively manage the provisions within each lease contract; and
- Advise on financial and legal implications of anticipated new leasing activity.
- Note: Colonnade’s leasing and realty services are provided through CDI Realty Inc., Brokerage.
