Orleans Tower
New Orleans, LAThis Class B 400,000 square foot office tower located in the New Orleans CBD was purchased in a distressed condition. With only 30% occupancy and a problematic tenant mix, the new owners faced the daunting task of leasing space in a relatively stagnant market.
Property One was hired based on the strength of its leasing plan, which positioned the building properly in the market against the competition, yet still offered lease terms that were profitable to the owner. In two years, Property One’s aggressive leasing campaign caused occupancy at the building to more than double to 65%, while the occupancy rates for other downtown buildings remained flat.