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Role: Co-Managing Partner, Repositioning
A team including Presidio's founding partner acquired the office building located at 126 South Main, located in Fort Worth's South Main Urban Village.
At the time of acquisition, the building was approximately 65% leased, had deferred maintenance, and was barely covering operating expenses.
The ownership team implemented a moderate repositioning program including:
- Renovated common areas including building access systems
- Addressed deferred maintenance
- Renovations to the vacant space to appeal to creative firms
- Migrated all leases to consistent, accurate form
- Increased property NOI by 750% from inception to end of Year 2
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