Overview
Intelica CRETM, a commercial real estate services company, worked on behalf of real estate investment firm Bamboo Equity Partners to re-position an office complex at 15455 Conway in Chesterfield, MO, as a Class A property. Bamboo Equity Partners acquired the building in 2015 with the goal of creating a high-end commercial space that would attract tenants seeking access to interstate Highway 64 and the Chesterfield Valley, a high-growth commercial district in St. Louis County.
“Conway was an under-utilized property. We relied on Intelica to manage the construction and ultimately increase the occupancy rate. We achieved our goal of creating value.” - Dan Dokovic, Managing Principal, Bamboo Equity Partners
Challenge
The building’s low occupancy rate and out-dated features made it a prime opportunity for Bamboo. “We look for buildings with potential,” said Dan Dokovic, a principal at Bamboo. “Conway was an under-utilized property. We relied on Intelica to manage the construction and ultimately increase the occupancy rate. We achieved our goal of creating value.” As of 2017, 15455 Conway boasts nearly full occupancy, and several tenants impressed with the space have requested additional build-outs.
Current tenants include Solid Gold Pet, Broda Seating, Resolutions Title and Property Asset Management. Solid Gold Pet enjoys a patio space for outdoor meetings, a large-scale wall mural with a pet theme, and a modern kitchen design. “We needed the space to reflect our business in a unique way,” said President/CEO Bob Rubin. “We wanted our employees to love coming to work. Intelica helped us do that.”
Solutions
By using our benchmarking process, all operations costs were evaluated and submitted competitively through our vendors and supplies. Within days, immediate cost savings were identified and implemented without effecting the quality of service. Intelica CRE set up a web portal that allowed the Intelica CRE asset management team to easily share information with the building owner. In addition, the Intelica CRE leasing team implemented a marketing campaign which rebranded the building’s image. This better positioned the building for new potential tenants in the competitive Chesterfield office market.