Project Description
Bingham farms Medical Center
In February 2015, Etkin obtained management and leasing duties of the 52,000 square foot building at 31500 Telegraph Road, along with 31350 and 31370 Telegraph Road. At that time, the property, 60% occupied, was in need of renovation. Our team worked closely with ownership, RBK Investments, on planning, budgeting, and implementing plans for a complete renovation of the common areas, new parking lot, upgraded security system, and new landscaping. These improvements, along with an aggressive and comprehensive leasing program, brought the occupancy up to 98%.
Action:
- Developed a capital budget to coincide with ownership’s requirements
- Implemented a proactive/comprehensive leasing and marketing program
- Managed renovation process to enhance asset, including:
- Installation of Back-up Generator Renovation/Enhancement of Common Areas
- Upgraded Security System
- New Landscaping
- Upgraded Lighting to LED
- Scrutinized Operating Expenses
Results:
- Increased occupancy from 60% to 98%
- Improved tenant satisfaction and retention
- Boosted cash-flow and shareholder value
- Modernized building for the future