Thrift Road

Assignment

  • Lease +/- 90,000 sf of office and retail space as part of the Browder Group’s expansive 235,000 sf FreeMoreWest portfolio
  • Create a vibrant tenant mix to expand on the early submarket momentum created by Noble Smoke and early design showroom uses
  • Reposition former industrial buildings as Class A adaptive reuse with a detailed leasing strategy to maximize value

Challenges

  • Early adopter of FreeMoreWest submarket
  • Pre-leasing activity required to commence construction
  • Growing competition and increased supply in submarket

Strategy

  • Target specific retail concepts and office occupiers that are placemakers
  • Land single tenant office occupiers that are looking for own presence in submarket
  • Curate specific food & beverage spaces that are concentrated in the portfolio to create a center of gravity on Thrift Road

Results (As of July 2022)

  • Activated Thrift Road as “Main Street” in the FreeMoreWest submarket
  • Achieved highest office rent in submarket
  • Portfolio vacancy went from 100% to 20%

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