Landlord Representation
AXA Equitable Life Assurance, a subsidiary of AXA Finanacial Inc., which is a part of the global AXA Group, is a leading financial protection company and a premier provider of life insurance, annuity and investment products and services. As of December 31, 2007 AXA Equitable's assets under management totaled $888.6 billion. Parent AXA Group is listed as the 15th largest company in the world on the 2007 Fortune Global 500 list with $1.87 trillion in assets under management.
Approach
One of AXA's assets was a 141,000 square foot multi-tenant office facility on Cross Park Drive in West Knoxville. Low occupancy rates had lead to poor financial performance and AXA decided to replace their leasing agent. AXA retained our leasing services in an effort to incrase occupancy rates and get the property asset performing again in a positive fashion in order to generate an acceptable return. By giving the property increased attention and using proactive marketing techniques and strategies along with a leasing incentive program occupancy rates increased.
Results
The marketing effort and leasing services increased the occupancy from 60% to 95% over a five year period. AXA was pleased with the increase which made a significant contribution to the asset again performing to expectations.