Scottsdale, AZ (PRWEB) October 31, 2015
After nearly 5 years of vacancy, Echo Executive Business Park has been brought back to life and is currently setting at 97% occupancy. Southwest Jet Center purchased the distressed asset in December 2014 and immediately filled the 19,000 square feet hangar space to 100% occupancy. Southwest Jet Center’s main location is directly across the Scottsdale Airport runway from Echo Executive Business Park. Theory R Properties undertook the task of managing the construction rehab of the distressed buildings and is the current property management company.
Echo Executive Business Park was built in 1985 and boasted high occupancy levels for many years. However, as the building aged, occupancy levels dwindled down to 7%. Echo Executive Business Park features an excellent location near Gate A of the Scottsdale Airport and offers both office and hangar space. To attract new businesses and return occupancy levels to their original high rate, Theory R Properties effectively managed and completed over $350,000 in capital improvements.
Improvements began with renovations to the exterior including fresh new paint, new energy efficient LED lighting, parking lot improvements and new landscaping. Theory R Properties then turned their focus to a renovation of the office buildings. Existing tenants were relocated to one building while the other three underwent mass renovations. First, a complete tear down to the shell, then new walls were constructed with fresh flooring and kitchenettes that spoke to a modern theme. Many spaces were built to suit specific floorplans for their new tenants while others were built out as spec suites. Bright paint colors and industrial style ceilings add to the new, modern feel of Echo Executive Business Park.
Currently, Echo is 80% renovated and 97% occupied. A few of the new tenants include a marketing firm, law firm and an electrical supply distributor.
About Theory R
Theory R was founded in 2002 by Gary Daichendt, the former Executive Vice President of Worldwide Operations for Cisco Systems Inc. Theory R operates with a high level of integrity, the constant reminder to “do what is Right” and is refreshingly personal to do business with. Find Theory R on the World Wide Web at: TheoryR.com