KB Westchester is an approximately 800,000 square foot multi-tenant warehouse located in the City of Vernon. When we assumed management of this project, there were major accounting problems, significant deferred maintenance, and numerous non-compliance issues with tenants not honoring the terms of their lease.
Westchester Industrial
Challenge
Solution
During the transition of the property, we initiated a major tenant retention program. Our team met with each tenant and explained any questions related to the terms of their lease. Additionally, improvements to the property’s appearance and to reduce operating expenses included: major parking lot repairs, re-painting, re-landscaping, lighting retrofits, Title 24 roof coating, and elevator upgrades.
Results
By working closely with the building’s tenants to finalize tenant improvements, our leasing team successfully attracted and retained tenants at longer terms and higher rates. The building is now 98% leased, and all past tenant complaints have also been resolved.