An effective leasing strategy is the key to a successful development. With the help of our in-house leasing specialists, Pope & Land enhances building value by matching the right tenants with the unique objectives of each property. Our focus is on structuring lease transactions that are successful for all involved. Through our commitment to building both value and long-term relationships, we have redefined the traditional landlord/tenant dichotomy, establishing bonds that endure project to project.

$150M

in lease value created in the past 3 years

2.7M

Buildings currently represented by leasing team

92%

Current portfolio occupancy rate

For More
Information Contact:

Jennifer Koontz

Managing Director

Leasing & Advisory Services

770.980.0808

Case Study

GLENRIDGE POINT

Submarket: Central Perimeter | Atlanta, GA

An international headquarters was created for a technology and financial services firm through creative leasing and a desire to invest in and prioritize specialized, tenant-centric building improvements. eVestment, an international financial and technological firm, desired a more visible and centralized headquarters suitable for attracting and retaining top talent. Pope & Land and eVestment established a collaborative partnership early on to create the desired tenant needs and wants while reaching and maintaining landlord’s economic and investment metrics. Further, at acquisition, the property was 30% occupied and 62% leased. Through the implementation of strategic and purposeful leasing plan, after 12 months the property became 100% leased and occupied with over 7 years of average remaining term.

Circumstance:

  • Under contract to purchase 100 and 200 Glenridge Point; a portfolio encompassing 200,000 SF
  • 100 and 200 Glenridge Point were 37% and 87% leased, respectively
  • Largest contiguous block was 40,188 RSF, located in 100 Glenridge Point
  • The then current rental rate was $20.50/RSF
  • During the due diligence period, eVestment was identified as a 70,000 SF prospect for the 100 Glenridge Point building

Action:

  • Execute significant, long-term lease (13 years) with eVestment, relocate other tenants to free up needed space
    • Two existing tenants were relocated to 200 Glenridge Point
    • Expanded one of the relocating tenants during the move
    • The underperforming cafĂ© was terminated
  • The remaining space and management office were leased to a tenant which brought 200 Glenridge Point to 100% leased

Outcome:

  • The entire Glenridge Point property became 100% leased with lease term and credit-worthy tenancy
  • Purposeful, creative and responsive leasing actions allowed tenants to create new space as though they were an owner/partner in the project
  • A traditional Class B property was transformed, now appealing to a wider and deeper array of firms and industry types