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When
the going got tough in 2001, CarrAmerica’s local teams rose to
the occasion, delivering a strong market-by-market performance even
in a difficult economy. The company’s Dallas,Texas office provides
a perfect example. Anticipating the recession, the Dallas team used
aggressive asset management strategies to maximize occupancies. “Many
of our senior people were here in Dallas in the late eighties for
the last down cycle. It gave us a perspective on strategies to handle
the decline,” says Managing Director Bill Vanderstraaten. “We
were able to respond quickly and take steps to improve our ability
to maintain occupancy.” The results? At 94.5%, the average occupancy
for CarrAmerica’s Dallas portfolio is much higher than that of
virtually all of its competitors. And, in 2001, the team was awarded
the prestigious Developer of the Year award by the Dallas Chapter
of the National Association of Industrial and Office Parks.
Beyond that, the leadership in Dallas
succeeded in building business in the areas of leasing and construction
management services. Through Bob Buell, Vice President of Leasing,
CarrAmerica’s Dallas office earned a contract to lease the 80,000-square-foot
office portion of a major new multi-use loft, office and retail development.
The construction management team, under Vice President and Senior
Project Manager Steve Melonçon, attracted a 182,000-square-foot
tenant construction project for KPMG LLP and a 170,000-square-foot
regional operations center for Network Associates, Inc. Vanderstraaten
credits a combination of strong local expertise with the reputation
and national real estate service capabilities of CarrAmerica and its
affiliates. In a tough environment, it really boils down to having
good people. Says Chris Hendricks, Vice President and Director of
Operations,“A difficult economy can be a great opportunity for
a seasoned team like ours to expand our reach. It’s the kind
of market where clients really need our help.” |
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