commercial building development was a unique challenge as our client was new to the commercial property arena via its first acquisition, a 100,000 sq. ft. mixed-use property built in 1919 (www.reunioncentertulsa.com).  Within one year this cash-flowing property was in financial trouble due to poor management and subsequent lost leases.  Owner was also aggressively pursuing a renovation strategy for the 9th floor that had stalled. 

james brune consultants was hired as the Property Management Consultant to direct staff concerning cash flow modeling, accounting clean-up, building financing options, leasing agent selection/management, capital improvements/renovation management and determining best use of total existing space. 

We developed financial models for cash flow management and building valuation – allowing Owner to understand monthly cash requirements (shortfalls) plus property worth contrasted with comparables.

We initiated and managed the solicitation process for a new leasing agent and after selection, conducted an initial strategy session and held weekly meetings with agent to evaluate prospects and perform lease valuation analyses verification (leases ranged from $12,000.00 to $210,000.00 annually).

We became the General Contractor and Design Consultant for a mixed-use renovation project (a 1,500 sq. ft. luxury apartment + 6,500 sq. ft. office for the building’s Owner), replacing previous General Contactor and reducing costs to Owner on buildout by 1/10 ($70,000.00).  We created a building renovation schedule for remaining common area space and oversaw implementation via Property Manager. 

Finally, we evaluated other types of businesses ideal for existing space (office suites/virtual office plus restaurant/retail) and presented to Owner for consideration.