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Suburban Office / Retail Suites

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Suburban Office / Retail Suites

Project Overview

After taking back this new construction building from an owner that could no longer meet his debt obligations, Bridgeview Bank hired 33 Management to completely overhaul operations and restore the building to positive NOI. 33 placed a full-time on-site manager, renegotiated all building service contracts, created leasing plans to compete against Regus and implemented a charge-back programs to boost other income.

33 parallax logo
our process

Project Outcome

Occupancy at the building was increased from 61% to 81% over 33’s 3-year management assignment, operating expense load was brought down by 25%, tenant satisfaction soared improving average lease terms to over 1.5 years and Bridgeview awarded 33’s brokerage team the listing which was sold in February of 2015.

before
after
beforeafter
81%
Occupancy
25,900
Gross Building SF
27%
Expense Ratio
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