Key Center at Fountain Plaza

423,263 sq. ft. Class-A office complex.

The two-building complex, built in 1990 as a part of downtown Buffalo’s Central Business District revitalization, was experiencing a dangerously low lease-up process. One whole building of the complex, the South Tower, remained vacant and with an unfinished interior. The other building, the North Tower, at the time of assumption of duties was only 85% occupied. In 1998, the New York City ownership group and the asset management company were hired to oversee the complex. They recognized the need to have a highly qualified company join the team to manage, market and lease the complex. The first objectives were to add value to the complex by making improvements in the building operations, and solidify tenant relations by adding amenities that would complement the tenant base. The next objectives were to fully lease the finished building, sign an anchor tenant for the second building and begin its interior construction.

We immediately evaluated all building services and vendors and made changes, where appropriate, to reduce costs and improve service. Our management and marketing personnel for the project were located on-site in a management office, establishing a visible presence in the atrium of the buildings. An aggressive new leasing strategy was implemented, including one-on-one meetings with area commercial brokers.

In early 1999, a renowned international anchor tenant was signed for 100,000 s.f. of the second building, kicking off the interior construction of the long vacant site. An additional full-floor user was also signed for that building, bringing occupancy to over 90% in just under one year.

We worked with our client to introduce various tenant events and amenities at the complex. Several marketing initiatives were created to enhance project awareness.

The existing property is 100% leased. Value of property has increased 300% since our involvement.