Looking at an existing property with new eyes - by Arthur Sullivan of Brady Sullivan Props.
February 26, 2015 - Spotlights
Taking ownership of the property late in 2005, the commercial real estate developer decided to look at the space in a completely different way - a hallmark that has set Brady Sullivan apart.
The team at the company has amassed decades of experience, and with that experience has come a great deal of lessons that they've been able to apply to buildings throughout New Hampshire and New England. Their unique approach combines a great deal of creativity, resources, and hard work.
Experience has taught them:
Look at different uses of space. The two buildings originally housed one company in a vast space, but the market for companies that size that needed a new location is much smaller than that of smaller companies that need a portion of a building. Repurposing the space allowed the company to reach out to a larger market, as well as renovate and fill the building in stages.
Be creative about tenants. It would be easy to try to find a company in a similar industry to fill the space, since it was originally outfitted for that industry's needs. Rather than limiting the scope to the networking industry, however, Brady Sullivan expanded to numerous industries. The Rochester location is now home to the Strafford County YMCA, eCoast Sales Solutions, Granite State College, Radianse, and may be the future office for a multi-national corporation.
Have resources at the ready. The YMCA and the college needed the space customized to fit their needs, whether it was classrooms, a gymnasium, warehouse, or office spaces. Because the company has in-house resources, including architects, project managers, and construction personnel, it was able to provide a turn-key solution to re-fit the space in a tight timeframe.
Tenant leads don't come from only one source. With this particular property, leads were sourced both internally and through the brokerage community. However, staying active in the community and building relationships are still - and likely will stay - the cornerstones of tenanting a property.
Arthur Sullivan is a principal of Brady Sullivan Properties LLC, Manchester, N.H.