How to Bag Those Lease Renewals
Core office and industrial markets might get the glory, but Sunbeam Properties VP Maridee Bell tells us that well-located traditional business parks can be competitive, especially for tenant retention. Recently Sunbeam has inked 400k SF of lease renewals for office and industrial at its Miramar Park of Commerce in Miramar, including the renewal by furniture company Coaster Company America for 250k SF. "The day a company moves in is the beginning of its relationship with the property management," she says.
"Responsive property management and attentive maintenance allows tenants the ability to focus on their business," Maridee adds. One technique Sunbeam uses is to meet with its tenants each year in small groups, to keep the lines of communication open. "These efforts, combined with a central location and functional product, keep tenants renewing.” Maridee and colleague Ryan Goggins repped Sunbeam in the recent renewals, which also included Caterpillar, Bunzl Distribution Southeast and BlueStar Latin America.