2845 North Wyandot St.

2845 N. Wyandot St. Denver, CO 80211

Buyer: n/a
Lease

Challenges

We recently had a long-term client approach us to find a new tenant for their building. We knew immediately that there would be several giant hurdles to cross:

  • The targeted tenant profile was extremely limited. Because the building had been operated as a salon for the last 15+ years, we were targeting specifically salon/wellness business owners to eliminate a Change of Use to the property. This significantly limited the number of tenants we could market to.
  • We were working on a tight timeline. The landlord’s existing tenant was moving out and her end of lease was approaching quickly. We wanted to get in a new tenant as soon as possible so the landlord wouldn’t experience a vacancy in his property.
  • It was an unconventional property. Our client’s building is an old residential house converted to a commercial property. Although there are many positives associated with that, some retail tenants might consider it a disadvantage.

Actions

We knew that to find our client a suitable tenant within the given time frame, we had to think creatively and move quickly. We used our networking and marketing power to reach and touch all types of tenants in the tenant profile, whether they were a start-up or an existing business.

Through our connections, we were able to secure a viable and realistic tenant–and with an extensive knowledge of the leasing process, were able to quickly expedite any open items that might have caused delays in getting a lease executed.

Bottom line: We understood our tenant’s audience and marketed to them directly. Because we had a firm grasp on the target market, we were able to reach users who would find value in this unique building.

Results

The Urban Collective was able to collaborate openly with the tenant and brokerage community, resulting in finding a personality match between the tenant and landlord. This resulted in the landlord smoothly transitioning from one tenant to the next without any vacancy in the property. The existing tenant’s lease expired and the new tenant’s lease started the next day, allowing for both Landlord and tenant to meet their desired deadline.

Through hard work and perseverance, we secured a user that embraces the property and the aesthetics it provides and both parties are now poised for success.

Thank you, Bryce and Mike, for the outstanding value you have added to this deal every step of the way. The Urban Collective has secured yet another long-term lease for my commercial property with a 10% greater cap rate, at a 0% vacancy track record. Hard to beat that, gentlemen!

Don Bushey

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