Client Success Story: Imperial Industrial Park
Imperial Industrial Park has performed better financially than we ever anticipated it would. The park stays full as Rich and Connor have done a great job of quickly generating tenants at excellent rental rates. We’ve had experience with a lot of different real estate brokers over the years and Genfor Real Estate provides us with, by far, the best service and results.
- Lee & Larysa Gibson
Imperial Industrial Park LLC
Imperial Industrial Park - Light Industrial Park with Outside Storage
105 Acres / 84,000 SF Muti-Tenant Industrial Park
- Bateman Rd/Imperial Industrial Park Dr, Oakdale (North Fayette Twp), PA 15071
- Landlord Rep - Lease
- 84,000 SF, Seven Building Multi-Tenant Industrial Park on 105 Acres
- Submarket - West
- Owner - Imperial Industrial Park LLC (Lee and Larysa Gibson)
- 14 Year Real Estate Advisory Relatioship
Challenge:
Imperial Industrial Park was acquired by Imperial Industrial Park LLC (Lee & Larysa Gibson) in December 2011. The park was roughly 80% leased with 30% lease roll upcoming over the next 12 months. Additionally, many of the buildings were in need of improvements and significant investment given the evolving needs of Tenants.
Action:
Lee & Larysa engaged Rich Gasperini to lease the park’s vacancies as well as providing long term strategic advisory services to maximize the park’s potential. A straightforward marketing process with implemented focused on engaging tenant prospects via direct contacts (phone, email, and in-person) and a certain group of “target” prospects with outside storage uses was specifically pursued.
Additionally, targeted Landlord improvements were completed to compliment significant Tenant funded improvements throughout the project. Connor Jangro has taken over leading the park’s leasing efforts and has generated strong outcomes for the ownership.
Result:
The Genfor marketing team has completed 22 leases on the ownership’s behalf since the property was acquired. Backfilling vacancies is often done quickly and at premium rental rates.
The trusting relationship between Lee & Larysa Gibson and the Genfor team has enabled the park to maintain full occupancy over the last 10 years and when vacancies do arise, they are promptly filled.
Contact:
Rich Gasperini, Principal
Genfor Real Estate
Cell: 412-651-6888
Direct: 412-564-0752
rgasperini@genforrealestate.com
Connor Jangro, Associate
Genfor Real Estate
Cell: 412-805-7064
Direct: 412-564-0776
cjangro@genforrealestate.com
