Happy New Year! At Midgard, we are looking forward to a very busy and prosperous 2010 building upon the highly successful year we experienced in 2009.
A Few 2009 Highlights
We completed the renovation and construction of 1401 Crown Center to a LEED-Certified office building to accommodate the corporate headquarters of Parkson Corporation.
Within 90 days of C/O at 1401 Crown Center, CBS Interactive executed a long-term lease for the entire 30,000-square foot second floor. The Tenant Improvements were completed ahead of schedule and CBS Interactive will move into their new offices with ample time to prepare for this year's Super Bowl.
We secured the Brown and Brown Lease transaction at 1201 Crown Center on a long-term lease for 30,000 square feet. A section of 1201 building will be redeveloped to accommodate Brown and Brown and we anticipate they will take occupancy in the third quarter 2010.
Our green efforts continued to grow with continued initiatives at Crown Center and throughout our portfolio, concluding with the LEED EB&OM certification at 1475 Crown Center during the first quarter of 2010.
What I consider even more essential is that we documented considerable savings throughout our managed portfolio. We are able to pass these savings on to our tenants through lower CAM rates for 2010 thanks to our results-driven management team.
Our hard work and successes were also handsomely rewarded and honored by our community and peers during 2009 as well. We are the proud recipient of:
We further grew our third party Management Division by 385,000 square feet with the addition of five commercial properties located throughout the tri-county.
Finally, and most importantly, our personal Midgard Family grew with four new babies this year. We couldn't be more thrilled.
Yes, it was a very busy year! But we've laid the groundwork for an interesting and productive Twenty Ten. We still believe that this market is one of the most vibrant areas in the United States to own real estate and a great place to live.
We wish all of you a Happy New Year and prosperous 2010.