When the building was acquired two years ago, it had a 55% occupancy rate. Schultz stepped in as marketing and leasing agent to help reposition the asset. The company's management services division embarked on a renovation program that included upgrades to the first and fourth floor lobbies, common areas, parking areas and telecommunications facilities, effectively repositioning it for new tenants.
The new owner is expected to retain Schultz as leasing and marketing reps at the now class A complex.
Jonathan B. Schultz, president, and David Iacobucci, vice president/director of asset management, handled the transaction.
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