Capitol Equities, a commercial real estate brokerage and management firm, announces a major leasing accomplishment at the Smith Bros’ Hardware building in Columbus, Ohio. Earlier this month, the 180,000+ square foot loft office and event facility achieved a key milestone – 100% occupancy.
The Smith Bros’ Hardware building, a former factory and distribution facility renovated by Capitol Equities in 1998, is not the only property in Capitol Equities’ portfolio performing well above industry averages, currently estimated at 17.2% vacancy rates by COCIE, powered by Xceligent. Capitol Equities also markets and manages a 58,000+ square foot office facility in downtown Columbus which has recently reached an occupancy rate of 90% following its redevelopment in 2008.
Lastly, the Marconi Square project, which Capitol Equities has represented since 2003, is currently 98% occupied. The project has consistently held occupancy rates in excess of 85% in recent years, even while central Ohio experienced national record setting vacancy rates over 23% during the past five years. In addition to Marconi Square, Capitol Equities has achieved 100% occupancy for the same owners’ portfolio at two sister projects in downtown Columbus.
Says Todd Kemmerer, founding principal of Capitol Equities, “These types of achievements are not a matter of chance. Capitol Equities works diligently with each of our clients, providing a real world knowledge of facilities management and a creative marketing approach with winning results.
“It’s not just about putting a For Lease sign on a building to reach these occupancy rates. It’s a combination of knowing how to effectively manage a property to maintain low operating costs which makes these properties more cost effective options for tenants, as well as being able to not only attract but ultimately negotiate and close long-term, beneficial leases for our clients. Our company, time and again, has proven the success of these strategies.”