Case Study: Office Space Disposition
1000 Louisiana, Houston, Texas
The client specializes in the acquisition, exploration, production and development of crude oil and natural gas, primarily in the Gulf Coast region of the United States.
The energy downturn of 2014 left the client burdened with excess office space at its headquarters at 1000 Louisiana. The client hired Fritsche Anderson to create and implement a proactive strategy to reduce its real estate expense by disposing of two floors of unused office space.
- Marketing materials professionally developed in-house
- Proactive marketing campaign aimed at brokers and potential subtenants
- Comprehensive market analysis
- Development of conceptual architectural plans to enhance marketability
- Professional tours of the space with all prospective subtenants
- Weekly reporting to the client of on-going activity and pursuit status
The Fritsche Anderson team closed subleases with six different subtenants totaling over 41,000 square feet, resulting in savings in excess of $5.0 million.