Hill Country Galleria
Re-Branding a Mixed-Use Property after Foreclosure.
HRPT purchased the Hill County Galleria out of foreclosure in February 2010. The office component totaled 147,551 sf and was vacant at the time of the purchase. HRPT hired Peloton to lease the office component and help turn the project around.
- The property was in foreclosure process for 16 months
- The brokerage and business communities were very concerned about the owner’s ability fund tenant improvements
- Reintroduce the property to the market with new branding and an aggressive cold calling strategy
- Suggested and implemented a spec suite program that generated positive energy and helped land many smaller, immediate-need tenants
- Turned the project around
- Completed 105,000 SF of new leases in the first nine months
- Successfully leased the project to 100% occupancy in 18 months
- 100% of the spec suites were leased within the first six months
- The owner built two additional buildings totaling 108,000 SF that have also been leased to 100%