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Union Square Submarket, San Francisco, CA

38 Mason Street

Posted In — Success Stories |
Private
Client
100%
Occupancy

Situation

Ownership was facing 100% vacancy with their office component of the building project. One floor had been vacant and on the market for 15 months with another floor becoming available within 180 days. Additionally, the project location presented leasing challenges. Unsatisfied with their then current representation and marketing, ownership engaged the team to increase tour traffic and bring the building to 100% occupancy.

We developed a three-prong marketing plan based around the following:

  • Developing a building website with professional videos, photos and 3D virtual tours.
  • Micro targeting tenants in the market or coming to market for direct outreach.
  • Engaging the brokerage community with weekly marketing blasts.

Results

Within 21 days of accepting the assignment we achieved the following:

  • Identify a professional service tenant.
  • Directly broker a six-year lease, providing our client a good credit tenant.
  • Saved our client additional brokerage fee’s due to sourcing the tenant directly.

The second floor became available during the height of Covid when tour activity was non-existent. With our digital marketing campaign utilizing virtual tours, and videos, we were able to secure the following:

  • Letter of intent to lease prior to the tenant physically walking the space.
  • We were able to successfully complete that transaction on an “AS IS” basis.
  • Bring the building to 100% occupancy prior to the City of San Francisco lifting its shelter in place mandate for non-essential workers.

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