Preston Place II
Chappel Drive, Buildings A-C, Perrysburg, Ohio
A Class-A Retail Building in one of northwest Ohio’s premier life styles centers struggling to maintain and attract new tenants with the limited resources available. Operational costs were out of control and maintenance was being deferred.
The property became bank owned and we were retained to manage the property through the disposition process. We were tasked with renegotiating service contracts, appealing real estate taxes and developing operating budgets.
We helped position the property for sale through an increase in tenant satisfaction, new interest from potential tenant prospects and a more market-friendly per square foot common area cost. The property was ultimately sold and we assisted in the due diligence process and supported the sale through closing.