Challenge: Stony Point Shopping Center in south Richmond suffered a major set-back when its anchor grocery tenant vacated the property due to the company’s decision to leave the market. Despite having numerous other tenants including restaurants, specialty retailers, and boutique stores, sales at remaining retailers started slowing after the grocery tenant left.
Class A Office Tower
Challenge: Due to a number of events, the vacancy rate of a 30-year-old, 26-story, Class A office building in Richmond, Virginia’s central business district climbed to 25 percent. As a result, the owner of the building hired a new regional commercial brokerage firm to manage the leasing process for the asset. Both the owner and the brokerage firm wanted to communicate the new relationship and highlight planned improvements to the building in order to increase the number of tenants and encourage lease renewals of existing tenants.
Signature Lease Negotiations
Challenge: A large owner of office, retail, and industrial space in Hampton Roads, VA undertook a strategic decision to bring its leasing operations in-house in order to maximize its ability to negotiate with current and prospective tenants. Gray Ryan Communications helped the leadership of KPM create a comprehensive public relations campaign designed to highlight signature lease negotiations that the company was able to undertake with the new arrangement and to showcase that these leases demonstrated how the company was ready to make deals that benefited the end-user, local community, and the owner.