Our client, an out-of-state owner of a Fort Lauderdale shopping center, had a tenant default on its lease. The challenge was to prepare the unit to be marketed and assist the property owner in securing a new tenant.
All repairs were made to the space including the removal of all debris, repair of the HVAC system, and the replacement of ceiling tiles and lights. The unit was thoroughly cleaned and readied for showing. We advised the owner on what rental rates and tenant improvement costs to expect and helped the owner select a leasing broker from our recommended list.
The suite was quickly leased at the market rate and the tenant improvements were less that projected because the new tenant was in the same business as the prior tenant.