Perrysburg Medical Arts Building
1103 Village Square Drive, Perrysburg, Ohio 43551
This building is a 2-story, 27,000 square foot medical office located in Perrysburg, Ohio. The building was built in 1994 and has approximately 9 tenants, including medical and general office users. We have managed the building for two different owners; a medical partnership from 2014 to 2015, and a real estate investment company from 2015 to present. We were hired to provide property management, leasing and construction management.
The building was managed in-house by the medical partnership, who developed the building, until we took responsibility for management and planning in 2014. The partnership needed assistance with full service management; administering their leases, collecting rents, maintaining the physical asset and preserving it for an anticipated long term hold. We were tasked with correcting deferred maintenance, attending to the needs of their tenants and developing a long range game plan to address the physical and financial health of the property.
The building was dated and had significant deferred maintenance. We performed a thorough inspection of the building and identified all of the items that needed to be addressed. We placed a new on-site field maintenance person at the property and hired vendors as required to handle the deferred maintenance issues. We have strengthened and maintained the tenant base, and anticipate being at full occupancy within the first quarter of 2016, thanks to solid, coordinated efforts with the brokerage arm of Reichle Klein Group.