Colonial Place is a 3 building complex on the Courthouse Metro that was purchased by L&B Realty Advisors in 1995. LPC has provided leasing, management, interior construction and development services since 1996. Through that period, LPC has provided day-to-day blocking and tackling services including a complete repositioning of the asset that included major building renovations and with the installation of a large conference facility, state of the art fitness facility, beautiful lobbies for both their buildings and other amenities. Major construction tasks include lobby, elevator, garage, HVAC and window replacement projects, as well as constant work on interior tenant improvement packages, test fits, spec build out programs and amenity planning. The project has been able to largely maintain rents during the recent down market. The project is a good example of a complex project that requires constant communication between all LPC service lines and with the owner at the asset management and portfolio levels.
1986, 1988, & 2000
Percent Leased Increase from 75% to 86% (Now)
Asking Rate: $41.00 - $47.00
Typical TI: $25.00 - $85.00 PSF
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