The long-time owner of the multi-tenant office building at 3030 Lake Ave. in Fort Wayne, Indiana, wanted to sell and approached Sturges Property Group for help. The listing quickly caught the eye of a Houston-based investment group, DOM Partners, LLC, as an ideal investment opportunity in the Northeast Indiana region.
Encouraged by Sturges’ transparency about the property, plans continued with approximately $250,000 of improvements to bring the property up to the investor’s standards.
DOM Partners needed an experienced, full-service, local partner to not only ensure ongoing profitability with tenant leasing and property management, but to work with current tenants through the changes and construction. Sturges and their affiliate companies made it a top priority to keep lines of communication open and information flowing to all involved, which kept enthusiasm high and stress-levels low. Renovations were completed in late Fall 2022.
Sturges was not only the brokerage company for the owners and tenants, but their affiliate companies were all involved in making countless property improvements. Maintenance Management provided a full inspection report and addressed the current tenant’s maintenance requests before construction began. Nexus Technology Partners installed tenant networks and key card access systems. TI Source provided ongoing project and construction updates, as well as addressed any major repairs currently needed by existing tenants.
Once established tenants recognized the new owner’s commitment to positive improvement, all decided to remain in their current spaces, resulting in a 0% loss of leases. Several tenants opted to expand their footprint when they experienced the professionalism of Sturges and affiliates. Sturges has since been able to generate significant interest in the building and drive tenant occupancy.
Sturges Property Group provided Dom Partners full-service support as brokers, renovators, and property managers both during and after closing, turning the building at 3030 Lake Avenue in Northeast Fort Wayne from a property with great potential into a property with tremendous value for the investor and community.