Background
AQUILA had previous experience successfully leasing Prominent Pointe from 2012 to 2015. During this time, AQUILA facilitated amenity renovations and other successful marketing initiatives to lease the building. When the asset was sold and traded to new ownership in 2015, the leasing assignment changed hands after AQUILA’s initial assignment.
In 2021, the building was sold again to different ownership, a partnership of Starwood and Vanderbilt. AQUILA was able to once again secure the leasing assignment using our market knowledge and prior success leasing the building, picking up right where we left off.
The Results
AQUILA was officially hired in April 2021 and immediately began marketing the property. AQUILA’s initial listing goals and part of why we were selected was to increase the partnership’s rental rates. We quickly increased the digital presence of the property, and among other things, emphasized quality virtual tours and a premier digital experience to allow out-of-town decision-makers to see the space. The largest vacancy at the project was a second-gen 16,000-square-foot space.
Less than 90 days after being hired, AQUILA gave an in-person tour to GovOS, a software company providing digital tools for local governments. After the local team toured the 16,000-square-foot space, the Dallas team was able to tour the space virtually. Shortly thereafter, both teams agreed to focus on moving forward with locating their Austin office at Prominent Pointe.
AQUILA and GovOS focused on moving swiftly and a lease was executed only 15 days after the initial tour. Additionally, given the make-ready work already completed ahead of time, GovOS was able to meet its tight timeline and move into the space the following week. From the time of GovOS’s initial tour to the time they occupied their new space, less than three weeks had passed.
AQUILA was able to help owners reach their financial goals for the project and from receiving the leasing assignment to filling the project’s largest vacancy was only 102 days.
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