INTECH Park was developed in 2001 by Lauth Property Group. The park kicked off with the first building, INTECH One, consisting of 140,786 SF speculative Class A office building. The challenge was to first transition the building from construction to property management and the second, and equally important task, was to lease the property. Additionally, the team was charged with the unique challenge of planting and maintaining one of Central Indiana’s first partial wetlands landscape environment on the site.
“I was very impressed with the management and attention to detail at the property. Being the first tenant of the building, I assumed there would be several start-up issues but I was pleased to have minimal issues.”
- Bill Carson, , INTECH Park
In order to transition the property from construction, a detailed process was developed to ensure that the building was commissioned properly to identify and resolve any deficiencies related to the construction and or operation of the building. This ensured each tenant would receive a pleasant business experience when they leased space in their new environment. Leasing services provided a detailed marketing program in efforts to lease space in the building. Meanwhile, Property Management services aggressively pursued knowledge on how to operate a wetlands landscape in order to maintain and protect the rather large investment.
In the end, both the transition and commissioning processes were successful. From a leasing prospective, the property was leased to 65% within the first 8 months of opening. Since then, tenant retention has remained at 90 percent. The team credits the project’s success to the initial work in the implementation of the commissioning process, the rectification of all operating issues and the proactive approach to management with aggressive expectations. This also assisted in the development of the other buildings within INTECH’s 165 acre Office Park. This project was also responsible for the operating motto “Every day is a SHOW DAY.” In order for this motto to be carried out effectively, Ownership and each individual within the management operational staff has to buy-in to being successful and fully embrace the company’s cultural beliefs.
Note: We have several professionals with substantial client transactional experience prior to joining RESOURCE Commercial, which is included above.