Reliant Energy Center

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Reliant Energy had moved its operations to Pittsburgh and had partially leased the building to outside tenants; however, the asset was underperforming for Reliant. The Johnstown office market was extremely soft, requiring creative and extensive marketing techniques to originate purchaser prospects.

APPROACH

  • Developed extensive marketing information including building plans, rent roll, operating costs and tax breakdowns
  • Conducted research on all companies utilizing office space in southwestern and central Pennsylvania
  • Solicited these companies along with all local, state and federal government agencies, schools, healthcare businesses, etc.
  • Advertisements were run in regional periodicals from Philadelphia to Pittsburgh and in the Wall Street Journal
  • Major site signage was installed on Broad Street
  • The PA Select Site database and regional commercial real estate databases were populated with information on the property and county economic development agencies were informed
  • Conducted extensive property tours

RESULTS

The property ultimately sold to an investor who saw the advertisement in the Wall Street Journal

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