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Case Studies

Real estate investment case study: Eastmont Town Center property management

Eastmont required a property management team to successfully manage building operations, resolve tenant concerns, retain leases,
and effectively communicate the owner’s commitment to the tenant base and Center. Unico was identified as having both the market expertise and property management experience needed to effectively address these issues.

Unico met with tenants to address their concerns and business needs, rebuild trust and relations, and identify strategies to promote tenant retention.

Eastmont Town Center is a multi-use office and retail property in Oakland, California. Although the owner had recently invested $4 million in renovations, relations with tenants were severely strained and county contracts equivalent to 42% of the building were ready to vacate.

Eastmont required a property management team to successfully manage building operations, resolve tenant concerns, retain leases,and effectively communicate the owner’s commitment to the tenant base and Center. Unico was identified as having both the market expertise and property management experience needed to effectively address these issues.

In October 2010, Unico began bringing its award winning customer service and results-driven approach to managing the 634,247 square foot property, immediately increasing tenant retention and satisfaction. Focused on maximizing efficiency and operating costs, Unico performed a detailed review of all property operations to identify areas of improvement, and produce a plan of action.


Eastmont Tower Center was an undermanaged 634k sf office and retail complex facing tenant vacation totaling
42% of the building


Our Property Management Services

Unico met with tenants to address their concerns and business needs, rebuild trust and relations, and identify strategies to promote tenant retention. Management also started attending community meetings to build community support and ensure Eastmont remained a successful and profitable asset within Oakland.

Working with a local broker, Unico’s integrative approach delivered significant value and tenant retention, resulting in 99,393 square feet leased and renewed, and another 81,035 square feet in the renewal process in just little more than 24 months since taking over management. Costs associated with service providers were rebid and reduced while services, such as security and building maintenance, increased thereby contributing to significant cost savings and tenant satisfaction.

Details

  • Integrative approach delivered significant value and tenant retention
  • 99,393 square feet leased and renewed
  • Costs associated with service providers were rebid and reduced while services increased

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Services Provided

  • Property Management

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Unico Properties

1215 Fourth Avenue, Suite 600
Seattle, Washington 98161

(206) 628-5050

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