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Challenge
9618 Huebner Road, a Class A medical office building, faced significant challenges due to bankruptcy resulting from the previous owner’s financial difficulties. The property was acquired at auction by a private equity group. While ownership completed necessary construction and compliance updates, the building’s shell vacancies presented a unique leasing challenge. Positioned in a submarket dominated by 1980s and 1990s vintage properties, the building required a premium rental rate to justify its high-quality finishes and modern design. To address these challenges and stabilize the property, ownership brought on Stream to lead leasing efforts and reposition the asset in the market.
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Strategy
Stream developed a comprehensive plan to establish 9618 Huebner Road as the premier Class A medical office building in the area. Leveraging proprietary GIS intelligence and market analytics, Stream identified healthcare tenants with the greatest potential for long-term occupancy, evaluating proximity to underserved populations, and pinpointing competitive gaps in the submarket.
To generate interest, Stream emphasized the building’s exclusivity and modern amenities, marketing it as a rare opportunity in a market oversaturated with older properties. Campaigns created a sense of urgency for prospective tenants by highlighting the scarcity of comparable premium spaces. Stream leveraged ownership’s recent construction and compliance updates to align with tenant needs, positioning the property as a move-in-ready option for high-quality tenants.
Results
Through targeted tenant outreach and a compelling marketing narrative, Stream achieved 100% occupancy for 9618 Huebner Road within its first year of leasing. The remaining shell vacancy was leased to University Health System, which stabilized the property and bolstered its appeal to the market. The client capitalized on the building’s remarkable turnaround by selling the property at a significant profit. The sale underscored Stream’s ability to reposition distressed assets and deliver exceptional value for its clients.