500 S Front Street

Brewery Tower: Colliers Team Leases Over 30,000 SF at 500 Front St

Services Provided

Acquisition and Disposition
Leasing
Property Management

The Owner

Tempus Realty Group

The Challenge

500 S Front Street, otherwise known as the Brewery Tower, is a Class A, multi-tenant office building totaing 142,315 SF in Downtown Columbus, OH. Dan Dunsmoor, Ross Lanford, Jim Corbett and Michelle Fude of Colliers International assisted Tempus Reality with acquiring the building for $15.8 million. Brewery Tower, then 71.25% occupied, was in need of a complete rebranding as it had siginificant deffered maintenance that needed addressed.

The Solution

The Colliers team came up with a strategic marketing plan focused on rebranding the current image of the building and putting a significant financial investment into the property. Building ownership put $100,000 into improvements in the parking garage, which included new LED lighting, a new security camera system, as well as a new key fob enterance into the garge and building. In addition, a $300,000 lobby renovation was completed, expanding the first floor common area by 1,500 SF. This renovation created an indoor/outdoor lobby and patio experience for tenants and guests, offering free wifi and multiple soft seating lounge areas.

In addition to the building improvements, the Colliers team implemented a visualization technology allowing prospects to see real-time 3D renderings and potential space plans within the building’s whiteboxed vacancies.

Results

Together, Tempus Realty and the team at Colliers were able to bring the Brewery Tower from 71.25% to 98% occupancy by completing over 30,000 SF of leasing within 10 months. This included signing a new anchor Tenant occupying space on three floors.