The Crossings Signage

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Client’s Challenge

The Crossings, a retail power center in Newington, New Hampshire, was in need of significant improvements to its signage. After taking over the management and leasing of The Crossings, the KPP Property Management Team initiated immediate landscaping, lighting, and other improvements. The Leasing team negotiated the opening of the first Trader Joes in the area, as well as a new ULTA Beauty and a redesigned Old Navy. The KPP Marketing Team launched a multi-platform marketing program including a website, social media, events and giveaways, and transit, print, radio/TV, and online advertising. The program included a new logo and identity line (see earlier Crossings Success Story). However, current site signage, including directional signs within the center and pylon signs at the entrances, didn’t reflect current tenancy, or the vitality of The Crossing’s new identity.

 

KeyPoint Partners’ Response

The KPP Team managed an involved, extended design and approval process, working with the Newington Board of Adjustment and Planning Board, which ultimately approved the entire proposed signage package, and granted approval on all variance requests. This included all new interior way-finding signs; a new logo sign on a prominent corner tower in the center; a new lit entrance sign in the median; and a new 40-foot pylon sign including 324 square feet of signage (the old sign was 30 feet high and 198 square feet) and a change from a manual reader board to a 96-square-foot LED message board.

 

The Crossings now boasts not only the largest retail pylon sign in the town of Newington, but also the first in the area with electronic message centers. Also, because of their efficient, sensitive handling of this process, the KPP team is working with the Newington Town Planner to write new electronic signage contingencies, to be added to the town by-laws as guides for all such signs in the future.

Mt. Nebo Pointe Marketing

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Client’s Challenge

Mt. Nebo Pointe is a 103,000 square foot power center in suburban Pittsburgh, well-maintained but located at the top of a hill with little street visibility. Although Mt. Nebo has major big-box stores and a vibrant mix of national and local tenants, there were several sizeable vacancies. The client wanted to increase awareness of the center in the community, bring in more potential shoppers, and create a feeling of energy and activity that would appeal to potential tenants. He appealed to KeyPoint Partners (KPP) to plan and execute family and community-oriented events at the center, beginning with a high-profile event scheduled for the Saturday before Easter – a matter of weeks from the initial request.

 

KeyPoint Partners’ Response

Within days, KPP’s Marketing Team, working closely with the Property Management Team, launched a robust, multi-faceted marketing program using traditional and online media, and involving community and charity organizations, town government, and center merchants. KPP created a website, Facebook page, and media advertising campaign, and organized Spring Festival, which included photos with the Easter bunny; Easter bag decoration; egg collecting from stores; face painting; balloon twisters; touch-a-truck (from the local fire department); live bunnies to pet or adopt; and on-site broadcasts on local radio.

 

Nearly 1,000 visitors came to the center for this first in a series of successful events (movie nights, a car show, Halloween and holiday events) that have enhanced the profile of Mt. Nebo in the community. Several new tenants have joined the center, and the largest vacancy has been filled. KPP provided property management and marketing services to Mt. Nebo Pointe and other properties for the same client.

The Crossings Takeover

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Client’s Challenge

The Crossings is a 475,000 square foot power center in Newington, the heart of Southern New Hampshire’s Seacoast region. The Crossings was a well-regarded and well-performing center, housing the only area locations of several national big-box merchants and restaurants as well as a 15-screen cinema, but was lacking a clear identity, and was often confused with the adjacent mall. The owners wished to reenergize the center among area shoppers. 

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KeyPoint Partners’ Response

The  KPP Property Management team initiated immediate landscaping, lighting, signage, and other improvements. The Leasing team pursued new deals and consummated existing negotiations for the opening of the first Trader Joes in the area - a long-awaited, much-anticipated premier tenant - as well as a new ULTA Beauty and a redesigned Old Navy. The complex build-outs were managed by KPP’s Construction team.

 

Although the center was established, the KPP Marketing Team treated it as a new property launch, initiating a multi-platform marketing program including a new website, social media presence, transit and print campaigns, and radio/TV and online tie-ins. The program quickly built the Facebook base to nearly 6,000 followers attracted by strategic ad campaigns and tenant-supported gift card giveaways. The program included a new logo and identity line, to be incorporated into marketing elements and new pylon and directional signage.

Derry Meadows Marketing

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Client’s Challenge

KeyPoint Partners' client sought to promote foot traffic at Derry Meadows Shoppes, an 187,000 square foot plaza anchored by dominant regional grocer Hannaford Bros. Supermarket, and increase cross shopping of inline tenants. 

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KeyPoint Partners’ Response

KeyPoint Partners’ marketing team, working with a marketing services vendor, developed a custom marketing program to brand Derry Meadows Shoppes as a community-orientated center with a prominent identity in the town of Derry. After the development of a logo and slogan, a website was launched to position the various Derry Meadows tenants as one community-focused entity. The program included print, online, social media, and public relations elements. 

 

KeyPoint Partners reached out to community organizations, offering the center as a venue for fund-raising and awareness events, managing tenant participation and organizing tenants’ marketing collateral. These events have enhanced foot traffic, encouraged return shoppers, and established goodwill. KeyPoint Partners also provided property management and leasing services for Derry Meadows Shoppes.

TRT Portfolio Takeover

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Client’s Challenge

Dividend Capital Total Realty Trust (TRT) went under contract for the Tedeschi family portfolio of 26 shopping centers totaling approximately 2,000,000 square feet in Massachusetts, Rhode Island and Connecticut.

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KeyPoint Partners’ Response

TRT engaged KeyPoint Partners (KPP) during due diligence. TRT requested that KPP’s Property Management and Construction divisions inspect every site and report on all inspections, and engage vendors to review all roof systems and parking lots. KPP compiled all of this information within five business days and submitted a summary of immediate and future repairs. TRT’s acquisition team used this data to forecast current and future property expenditures. In addition, TRT was able to utilize the inspection reports while negotiating the final purchase price. 

 

TRT closed on the asset and awarded the management contract to KPP. During the same month, KPP opened a regional office in Middleboro, Massachusetts, centrally located to all properties within the portfolio. KPP hired four former Tedeschi employees to handle day-to-day operations of the portfolio. As a result, management transition was seamless. Two senior staff members from KPP’s Property Management and Accounting teams became the portfolio leads.

 

TRT recognized the cohesiveness of all KPP’s departments, and was able to reap the benefits of KPP’s synergy, passion, and teamwork.

Altid Portfolio Takeover

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Client’s Challenge

Altid Enterprises, LLC (Altid) sought a management firm for 17 properties (1.4 million square feet), consisting of mid-rise urban, and suburban office with both single and multiple tenants, as well as industrial/flex and a substantial retail element, in Cambridge, Medford, and Chelmsford, MA; Concord and Exeter, NH; and Portland, ME. The chosen firm would have to meet institutional standards of detail, accuracy, industry knowledge, physical and financial competency, as well as local family-based entrepreneurial standards for communication, decision-making and execution. The varieties of property type, size, design, and tenant mix set the stage for a diverse and challenging portfolio.

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KeyPoint Partners’ Response

After a broad RFP process,  Altid awarded the management assignment to KeyPoint Partners (KPP) for takeover within a matter of weeks. The takeover required the abstracting of 70 leases, the administrative requirements for contractual services, completion of annual property budgets, prior year CAM reconciliations, and a general program for tracking compliance and critical dates. A takeover chart outlining the first six months activities with respect to management and accounting responsibilities was quickly prepared, and proved invaluable for tracking progress to a stabilized management program.

 

Within months, the takeover objectives had been achieved, and KPP had completed a full cycle of management activities including monthly reports, annual budgets, forecasts, and CAM and Tax reconciliations. KPP’s management program significantly improved the Clients ability to manage cash and to fully understand the performance of this vibrant portfolio.

Wells Plaza Leasing

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Client’s Challenge

Although located on one of Maine's most traveled highways, Route 1, adjacent to a successful Hannaford Brothers Supermarket, Wells Plaza in Wells, Maine had been struggling since the bankruptcy and closing of Ames Department Store.

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KeyPoint Partners’ Response

KeyPoint Partners realized that, due to high year-round and seasonal traffic by the center and the lack of a nearby shopping venue, an excellent strategic opportunity existed for a strong department store tenant. KeyPoint Partners's leasing team courted well-regarded Maine department store chain Reny's, who were looking to expand in the southern part of the state, to anchor Wells Plaza. Close to a thousand shoppers lined up for the gala grand opening of the new 32,000 square foot Reny's department store.

 

The presence of Reny’s attracted other strong retailers to the property, including Dollar Tree, which opened a 16,000 square foot store. KeyPoint Partners provided exclusive leasing and property management services for Wells Plaza.

South Cape Village Marketing

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Client’s Challenge

South Cape Village is a 160,000 square foot village style retail development on Route 28 in Mashpee, MA, anchored by Roche Bros. Supermarket and Marshalls. As the project reached approval and the onset of construction, the client, without marketing resources of its own, needed support in creating positive awareness of the project within the industry and the Cape Cod community. 

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KeyPoint Partners’ Response

In addition to standard marketing materials (leasing brochure, detailed site and regional aerials, site photography, maps, demographics, and narratives), KeyPoint Partners marketing team provided a complete marketing plan for publicizing the project through each phase of development, including press releases and media lists; web-based initiatives including a dedicated project website and ongoing email marketing; and a four color, four page booklet describing the project and its place in the Cape Cod retail market.

 

KeyPoint Partners also coordinated the successful and well-attended ground-breaking ceremony, providing invitations and guest lists; tent and chair rental; food service and signage; hardhats and shovels; special industry press coverage; and all follow-up materials. KeyPoint Partners provided exclusive leasing and property management services to South Cape Village.

Saugus Plaza Redevelopment

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Client’s Challenge

Saugus Plaza, a 209,655 square foot retail center located at the intersection of Routes 1 and 129 in Saugus, MA, one of the state’s dominant retail corridors, was in need of major revitalization after the bankruptcy and closing of two major tenants, Ames Department Stores and Decathlon Sports. 

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KeyPoint Partners’ Response

KeyPoint Partners successfully bought the lease at bankruptcy auction and negotiated with expanding retailer Kohl’s Department Stores to lease the former Ames space. Kohl’s held a hugely successful spring Grand Opening, for which close to a thousand shoppers began lining up before 7:00 am.

 

After the Kohl’s opening, Modell’s Sporting Goods, Famous Footwear, Bed Bath & Beyond, and other merchants signed long-term leases at Saugus Plaza, completing the re-tenanting of the center. Renovations to the facade and pylons were completed; these were managed by KeyPoint Partners’s Construction division, as were the tenant build-outs. KeyPoint Partners also worked with the owner to strengthen relationships with existing key tenants Wild Oats Market, Brooks Pharmacy, Dots, and CardSmart. In addition to exclusive leasing services, KeyPoint Partners provided asset, property, and construction management to Saugus Plaza and several other properties for the owner.

One Brattle Square Leasing

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Client’s Challenge

One Brattle Square is a class A mixed use property combining quality office space with prominent street retail in the heart of Cambridge’s famed Harvard Square.  HMV Records had vacated a two-floor space, and Eastern Mountain Sports had a sub-lease that was about to expire. KeyPoint Partners (KPP) was presented with a 36,000 square foot, two-level retail space that needed to be dramatically re-configured to optimize GLA for new tenancy. The final layout would maximize occupancy and profit for ownership, and meet the expectations of city officials who were concerned about tenancy in Harvard Square.

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KeyPoint Partners’ Response

Working closely with the project manager and the architect from the earliest stages, the KPP leasing team contributed significant knowledge of both urban retail leasing and the Harvard Square market. The team worked through multiple conceptual plans before finalizing the layout. As re-design and renovation progressed, the leasing team launched a calculated, aggressive marketing campaign promoting the flagship quality of the property and the world-class reputation of the market.  The resulting renovations included demolition of the grand entry and stairway to the second floor, and subdivision of leasable space. A new escalator was installed in a discreet location on the low-visibility side of the building - no easy feat as the building sits directly over the MBTA Red Line, and the escalator’s footprint dips several feet below the first floor. EMS re-signed for most of the second floor. New leases were negotiated with Eastern Bank, GNC, and Citibank, who share street-level storefronts on the Brattle Street side, as well as Chipotle Mexican Grille and Cambridge Eye. One Brattle Square is stabilized with a financially strong tenant mix. The owner’s significant investment in physical improvements to a beloved location, and trust in the KPP team, resulted in a financial win and the revitalization of this premier property.

Wayside Commons Intercept Study

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Client’s Challenge

Not long after the opening of Wayside Commons, a 196,000 square foot open-air lifestyle retail center in Burlington, Massachusetts, it was clear that an up-to-date, accurate personal, behavioral, and demographic profile of current and potential customers was vital to both the ongoing consumer marketing program and the continued leasing strategy.

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KeyPoint Partners’ Response

KeyPoint Partners research team proposed a dedicated on-site customer intercept study. After defining the objectives and parameters of the study, the research team engaged a vendor to execute the study through customer interviews at the center, and present a comprehensive report on the results. The study was instrumental in defining the center’s actual trade area geography and demographics, which was vital to the marketing team in choosing media for promotions. The results were also a key element in refining the leasing strategy and determining potential target tenants.

Warwick, RI Spring Flood

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Client’s Challenge

After a spring storm caused rivers to rise nearly five feet over their banks, swamping the area’s waste treatment facility, a large swath of Rhode Island was declared a Federal Disaster Area. KeyPoint Partners (KPP) managed Turnpike Plaza in Cranston, one of the worst-hit areas. Over four feet of flood water contaminated with raw sewage swept through the property, damaging all systems including electrical and fire/sprinkler systems. Standing water de-laminated old asbestos floor tiles, releasing asbestos into the air.  The cleanup required instant response and diligent follow-up. Securing the services of a Hazardous Materials vendor as soon as possible was key to a successful cleanup, because local property owners would be clamoring to retain such crews.

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KeyPoint Partners’ Response

KPP retained a Hazardous Material vendor even before Warwick was declared a Disaster Area. Floodwaters receded after several days, allowing the crew to begin black-water removal and restoration. Anything not nailed down needed to be decontaminated. All damaged stock at tenant Building 19 was discarded, and drywall was removed and replaced. The building was wrapped and dehumidified to battle mold. The hazardous Materials crew isolated and removed all asbestos. This multi-step process was completed, and a clean bill of health issued by the city, within six weeks from the day of the flood. Throughout the process, KPP worked with both the property’s insurance company and the KPP in-house Construction Management team to oversee the restoration of the property. KPP was able to re-open the effected tenants by early November.

Linear Retail Properties Financing

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Client’s Challenge

Linear Retail Properties, LLC (Linear) is a retail real estate operating company focused on the acquisition and management of convenience-oriented retail properties in Greater Boston, Eastern Massachusetts, Rhode Island, Southern New Hampshire, and Southern Maine.Linear intended to acquire a large number of properties in a very short amount of time. They needed a lender who could respond to the complex needs of their investment structure while keeping the closing process and administration as straightforward as possible.

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KeyPoint Partners’ Response

KeyPoint Partners (KPP) worked closely with Linear in order to understand their specific business model and their plan for the use of debt. KPP arranged a $50 million, 12-year revolving line of credit for Linear through a local financial institution. The credit facility provides for acquisition and permanent financing, and has allowed Linear to proceed with their acquisition plan. Today Linear’s acquisitions total well over 50 properties. In addition to financing consultation, KPP provides exclusive leasing and property management services to a sizeable portion of the Linear portfolio.

Renaissance Park Re-commissioning
 

Client’s Challenge

Formerly known as Ruggles Center and occupied by the Registry of Motor Vehicles, and now owned by Northeastern University, this 160,000 square foot office building also contains a 250,000 square foot parking garage. The building had been closed after many employees became ill with “sick building” syndrome, due to apparent HVAC and design problems. 

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KeyPoint Partners’ Response

Bank of America predecessor Bank Boston put the property under agreement to sell to Northeastern with the condition that it be delivered with a certificate of occupancy, bringing KeyPoint Partners in to oversee remedial work.

 

KeyPoint Partners management team worked with the state, the city, Bank Boston, and Northeastern to coordinate the $7 million renovation project, secure the certificate of occupancy, commission the new property (renamed Renaissance Park), and coordinate all tenant leasing and move-ins.  

 

The renovated and reopened Renaissance Park was named Office Building of the Year by BOMA in 2000, on the basis of overall management as well as contributions to the community. KeyPoint Partners provides asset, property, facilities, parking, and construction management to this and several other Northeastern properties.

Giant Food Portfolio Takeover

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Client’s Challenge

Not long after their acquisition of the mid-Atlantic Giant Food grocery store chain, KeyPoint Partner’s client Stop & Shop awarded the management contract for 27 Giant Food-anchored retail shopping centers in Washington, D.C., Maryland, Virginia, Pennsylvania, and New Jersey - a portfolio of approximately three million square feet in an entirely new retail territory.

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KeyPoint Partners’ Response

Bank of America predecessor Bank Boston put the property under agreement to sell to Northeastern with the condition that it be delivered with a certificate of occupancy, bringing KeyPoint Partners in to oversee remedial work.

 

KeyPoint Partners management team worked with the state, the city, Bank Boston, and Northeastern to coordinate the $7 million renovation project, secure the certificate of occupancy, commission the new property (renamed Renaissance Park), and coordinate all tenant leasing and move-ins.  

 

The renovated and reopened Renaissance Park was named Office Building of the Year by BOMA in 2000, on the basis of overall management as well as contributions to the community. KeyPoint Partners provides asset, property, facilities, parking, and construction management to this and several other Northeastern properties.

Flagship Cinema Construction

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Client’s Challenge

Although Shaw's Plaza in Waterville, Maine, an 88,000 square foot retail center anchored by Shaw’s Supermarket, is ideally located to benefit from both year-round and seasonal customers, the area lacked a high-quality destination entertainment venue.

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KeyPoint Partners’ Response

KeyPoint Partners’ leasing team negotiated with Flagship Cinemas for a 24,000 square foot addition to the plaza, on which Flagship built a new $3 million top-of-the-line eight-screen cinema with stadium seating and the latest movie theater technology. KeyPoint Partners’ construction team managed construction, after handling the permitting and bringing all entities together to take the project to unanimous approval from the Waterville Planning Board in just six weeks. The team also performed all pad site preparation.

 

Construction of the cinema was completed including two large, two medium, and four small theatres. The center has been revitalized by the Flagship construction and 9,100 square foot expansion of Shaw’s which followed. KeyPoint Partners also provided exclusive leasing and property management services to the center.

Wayside Commons Grand Opening

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Client’s Challenge

Wayside Commons is a 196,000 square foot open-air lifestyle retail center in Burlington, Massachusetts. The first development of its kind in the area, it was developed on the site of a former Raytheon building, in an area dominated by office parks and major hotels. The center broke ground in October, and was slated to open the following fall.

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KeyPoint Partners’ Response

KeyPoint Partners took over management and marketing responsibilities for the property in June, with a planned September 1 opening. The management team very quickly solved a host of construction, service, and logistical issues to bring the project to a successful opening. 

 

The marketing team coordinated a grand opening media campaign as well as a large-scale welcome reception and ribbon-cutting ceremony with over 400 invitees.  Wayside Commons was able to “open big” because of the concerted efforts of the KPP team.

Bayside Exposition Center
 

Client’s Challenge

Bayside Expo Center was a 30-year old conference facility on Boston’s waterfront that had once been a major exposition venue, but had recently languished, losing shows to newer facilities downtown. The Center had fallen into general disrepair. It was bought at auction, and very quickly marketed for sale - the new owner hoped to sell the property within a year.

KeyPoint Partners’ Response

Working under serious time constraints, KeyPoint Partners’ (KPP) task was to offset expenses and increase marketability by attracting convention business. Before this could happen, the Center needed a general overhaul, and all mechanical systems needed repairs. The KPP management team initiated a rigorous physical upgrade program, repairing the parking lot and roof, installing new telephone and wireless internet access, bringing fire alarm and life safety systems to code, completing electrical upgrades, and obtaining sign-offs from all relevant municipal inspectors. In a matter of weeks, the property was brought back to show-worthy condition.

 

KPP engaged an event management firm which brought a series of shows to Bayside including The Home Show, World of Wheels, and The Globe Ski and Snowboard Show, among others. Between expositions, KPP kept revenue flowing by renting the Center as local studio space to Hollywood production companies for films including Grown-ups, The Zookeeper, and Knight and Day with Tom Cruise. Throughout all this, KPP maintained good neighbor status by allowing pro-bono use of the facilities by local non-profits, and maintaining cross-easements with the adjoining hotel. The Center was profitable when it was sold to the University of Massachusetts within the year.