Jeremy Principe

Brendan Pagani

THE CHALLENGE

After a major tenant moved out in 2016, the building’s occupancy plummeted to 26.5%. Westcord was assigned to the project in 2017 and tasked with repositioning the struggling asset. The team worked closely with ownership to transform the property into a true Class A office project—implementing a series of strategic improvements including new spec suites, upgraded common areas, and a full exterior renovation. Through these efforts and an aggressive leasing campaign, Westcord stabilized the asset at 90% occupancy within a year and later represented ownership in the sale of the property in 2022, achieving a record sale price.

Fast forward to the next ownership cycle—two separate national brokerage firms were brought on in succession, each struggling to generate new leasing activity. By 2025, the property had slipped to 58% occupancy and was once again facing negative absorption.

THE SOLUTION

When Westcord was re-engaged in 2025, the building was already in top physical condition following the 2017 remodel. The new challenge required a different approach—one focused on execution rather than renovation. Westcord implemented a targeted marketing strategy, leveraged long-standing tenant relationships, and executed an aggressive prospecting campaign to reenergize leasing momentum. Within months, the property achieved over 20,000 square feet of new leasing activity and increased occupancy by more than 17%. Gate One is now firmly back on the path to stabilization, projected for completion in 2026.

THE IMPACT

Westcord’s performance at Gate One demonstrates the firm’s ability to revitalize underperforming assets through a combination of strategic creativity, persistence, and deep market expertise. Beyond restoring occupancy, the renewed leasing momentum has enhanced the property’s long-term value and reputation among top tenants in the market. The success of this turnaround reaffirms Westcord’s proven track record in repositioning, stabilizing, and maximizing the performance of office assets—even in competitive or challenging market conditions.