Falcon Closes Several Key Leases in 2012
Falcon Real Estate is pleased to announce the close of 2012 with approximately 280,000 square feet of lease transaction activity for the year. Falcon’s asset management team focused its efforts on several large retail transactions in the Midwest, while also closing on multiple office leases on the West Coast. Scott Bennett, Chief Operating Officer of Falcon Real Estate commented, “Falcon successfully closed on a number of key transactions in 2012, many of which were instrumental in maintaining occupancy levels well above the market average. As market fundamentals continue to improve, we will look to capitalize on increasing rents.”
For 2012, Falcon’s leasing activity generated total rental revenue of nearly $24 Million. National tenants involved in the lease transactions included Sports Authority, Office Max, Office Depot, and Nabisco. At year-end, the total occupancy rate of Falcon’s national portfolio was over 96%. Falcon provides asset management and investment advisory services for a diverse portfolio of office, retail, industrial, and residential properties throughout the United States.