Real Estate Journal
June 25, 2020
Accesso, a fully integrated investment manager and operator of multi-tenant office buildings, signed more than 25 leases totaling over 170,000 square feet across its portfolio since the beginning of April, despite the challenging market environment brought on by the COVID-19 crisis. The leases were completed across some of the most densely populated urban markets in the U.S., including Chicago, Dallas, Houston and Minneapolis.
“Our ability to execute a significant number of new leases and lease renewals, particularly in light of the headwinds associated with COVID-19, is a reflection of the quality of our portfolio and the strong relationship we have with our clients,” said founding and managing partner, investments Ariel Bentata. “Our tenants have long appreciated our efforts to support the health and wellness of all who work in our buildings through diverse programming, hands-on property management and stellar amenities, and we believe the robust steps we’ve taken to mitigate the spread of infectious diseases have provided added peace of mind in this uncertain environment.”
Two of the leases were at Towers at West End in Minneapolis. Magenic, an information technology services firm, took 29,000 square feet and Total Expert, a fintech software company, took 28,000 square feet.
Other notable leases include health care services firm, Concentra, taking 19,000 square feet at 1849 Legacy Drive in Dallas. In Chicago, Nolan Law Group leased 12,000 square feet at 20 N. Clark Street.
“In challenging times like these, we’re fortunate to have strong relationships with a brokerage community that continues to go above and beyond to keep our properties top-of-mind with prospective tenants,” said managing director, asset management Paul Gaines. “Brokers have been critical to enhancing our communications with tenants in this unprecedented environment, and they have recognized the unique value proposition that each property provides to its respective market.”
Accesso has implemented a number of measures to ensure the safety and well-being of tenants and team members across its portfolio, including placing hand sanitizer stations in common areas; reducing physical contact with high-touch surfaces; installing signage reinforcing the need for cleanliness and social distancing; cleaning HVAC systems with Blue Box in most properties to ensure buildings are circulating the highest-quality air; increasing the frequency with which properties are professionally cleaned and enhancing communication with tenants. In addition, Accesso continues to abide by federal and local guidelines as well as the recommendations outlined by the Centers for Disease Control and Prevention and the World Health Organization.
“Throughout the crisis, we have remained transparent and proactive in communicating what we’re doing to prepare our portfolio for the country’s re-opening, and we will continue to be there every step of the way for brokers despite the logistical challenges associated with operating virtually,” Gaines said. “As a result, brokers and prospective tenants have greater confidence knowing that their health, safety and happiness remains our top priority.”