Success Stories

Agency Leasing:

Bronxville, NY –
85 Pondfield Road

Abstract:

Struggling with a 14% vacancy for over five years, building ownership hired Admiral to fill a 1,700 square foot space of detached, built-out office space in Bronxville, NY. Admiral reviewed the space and property and developed a marketing strategy, which included both digital and traditional efforts, designed to locate tenants who would be a good fit for the space layout and market. In only 3 months, Admiral procured multiple offers for the space, ending in a lease with a credit tenant.

CHALLENGES:

  • Ownership had been unable to fill a detached office space for over 5 years.
  • The building’s long-term 14% vacancy rate weakened profitability significantly.

Solution:

  • Admiral procured multiple offers from prospective tenants. In only 3 months, Admiral finalized LOI terms for a credit tenant: Bespoke Education, a tutoring and test preparation company with multiple locations in the New York metro area.
  • Admiral inventoried nearby office uses and solicited other tenants in the market.
  • We researched which types of office users would be a good fit for the building/market, and generate lists of businesses that fit those criteria. Admiral developed custom-designed marketing materials tailored to specific audiences.
  • Admiral did traditional canvassing, maintained postings on industry websites such CoStar and LoopNet, and sent regular e-mail blasts to our database of office users and outside office brokers.

Client BENEFITS:

  • Admiral procured multiple offers from prospective tenants. In only 3 months, Admiral finalized LOI terms for a credit tenant: Bespoke Education, a tutoring and test preparation company with multiple locations in the New York metro area.
  • Admiral inventoried nearby office uses and solicited other tenants in the market.
  • We researched which types of office users would be a good fit for the building/market, and generate lists of businesses that fit those criteria. Admiral developed custom-designed marketing materials tailored to specific audiences.
  • Admiral did traditional canvassing, maintained postings on industry websites such CoStar and LoopNet, and sent regular e-mail blasts to our database of office users and outside office brokers.