Case Studies
Case Studies
July, 16 2012 | Category:
 

Downtown Office/Retail Makeover
The Challenge
This historic, 48,500-square-foot building in Denver’s lively LoDo neighborhood was in tough shape when UMS took it over. The cavernous restaurant space was empty, the third- and fourth-floor offices were vacant and the most recent renovation had happened more than 30 years before. To turn the building around, UMS joined forces with its affiliate, Unique Properties, creating a team of experienced real estate brokers, asset and construction managers, leasing agents and skilled property managers.
The Solution
The team assessed the space and determined its best use: a ground-level restaurant and offices on the upper floors. The construction team carried out $2 million in core and shell improvements, including upgrades to exterior windows, a new roof, and HVAC and electrical rehauls. At the same time, our leasing agents met with key companies looking for historic space in LoDo. Potential tenants were shown the space at the optimum time – when build-out could meet their specs.

UMS supervised an additional $800,000 investment in tenant improvements, quickly eliminating building vacancies and resulting in happy tenants. Among those attracted by UMS’ approach was the venerable Charlie Palmer – known for the eponymous Aureole in Las Vegas and New York – who brought not one but two signature restaurants into the building: District Meats and Wazee Wood Fire Pizza.

Outdated Cherry Creek Office to Luxury Living
The Challenge
Commercial real estate developer Bruce Rifkin experienced the Unique Management Solutions advantage during a significant building transition. Rifkin decided to raze his office building at Cherry Creek North Drive and Alameda Avenue in favor of high-end residential. At the time, Dan Meitus – through Bartell Meitus Real Estate, LLC – managed Rifkin’s headquarters, and Rifkin knew of the company’s expertise and long view on property management. He brought in the team, who offered advice on the best approach for building a property that offered a first-class living environment to the future residents of the project.
The Solution
The 150,000-square-foot building, called Monroe Pointe, now offers 69 units of stunning residential living, from one-bedroom condos to spacious penthouses. “The Unique Management team provided expert counsel that went far beyond the call of duty, and resulted in decisions that ensure Monroe Pointe’s long-term value and increase the overall experience for our residents,” Rifkin said. Because UMS team members do their homework and are credentialed property managers, they think like owners and understand property values and the overall market. In this case and all others, the team’s advice enhanced the overall value of a property and increased potential sale value.

Vacant Aurora Multi-Family to 90%+ Occupancy
The Challenge
This 283-unit, multi-family development was vacant, boarded up and terribly vandalized. When the UMS team took over the property, its professionals worked with the onsite partner on a soup-to-nuts renovation totaling $2.5 million.
The Solution
Today, the property is 93 percent leased and managed with UMS’s top-flight services. Moreover, the owner has an investment that continues to grow, with leases increasing approximately 30 percent over the past year, while vacancy levels remain low. For every property, UMS team members are experts at walking the fine line between investing in a property and keeping lease rates reasonable.

Reducing Owner Headaches and Increasing Value
The Challenge
Greg Knott, an industrial broker with UMS’ affiliate, Unique Properties and 20-year veteran, brought value to an owner with industrial and retail properties along the southern ring of Denver. Initially charged with leasing six properties totaling 400,000 square feet of distribution, warehouse and retail space, Knott recognized that a nominal investment in property improvements, combined with forward-thinking property management, would improve the value of the properties.
The Solution
The team of Knott and Unique Management Solutions delivered: the properties have low vacancy rates despite negative net absorption for Denver’s overall industrial market. To bring value to the client, UMS negotiated lower rates for services, such as waste management, due to economies of scale, keeping rents reasonable despite investments in the property. Because UMS is locally owned and operated, its team establishes good relationships with clients and tenants, checks in regularly on properties and stays in close contact with vendors during renovations, simple repairs, and exterior or interior maintenance. Frequent visits ensure property managers keep exterior eyesores such as equipment and vehicles to a minimum, making properties more attractive to potential tenants. And with consistent follow-through, work is done efficiently, cutting costs and limiting the impact on the tenant.


 
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