Recent Wins

Four years ago, upon purchasing Spectrum Professional Center, we immediately brought changes to how the former ownership treated the tenants. We began repairing and maintaining the property far better and responding to tenant requests more timely. We soon achieved far greater tenant satisfaction and won their trust.

The effort has borne great fruit. We recently signed new 5-year leases with 6 of our 8 tenants as their 3-year leases expired. Each new lease contains annual rent "steps." (increases). Comments accompanied these agreements, like "This is our forever-home," and "You are a breath of fresh air," and even "Can I invest in your next property?"

Our second largest tenant is an optometrist who held the previous ownership in extremely low regard. There was such great distrust and between this tenant and ownership, that he had refused to renew his lease for 7 years after it expired, choosing instead to fall back to the riskier month to month status.

This past month, after 11 years without a lease, he signed a 5-year lease with us and it even contains annual rate steps!

Edward Jones has committed to enlarge their footprint in the building by absorbing the office of a retiring attorney on a month-to-month lease, bringing the additional space under Jones' new 5-year lease that has annual rent steps.

In October a new tenant referred by a current tenant, signed a 5-year lease with annual rent steps for Suite 190, replacing the tenant there which was paying the lowest rent in the building.