Case Study #107

Falke Plaza

45630 Falke Plaza, Sterling, Virginia

A Vision Becomes a Reality

Owners of vacant land engaged Renaud Consulting to provide them with advice and counsel on how to take their vacant parcel of land on Route 606 in Sterling, Virginia and turn it into a thriving, neighborhood retail center. Now, with Renaud Consulting providing both leasing and property management services at Falke Plaza, the owners vision has become a reality. RC’s leasing efforts not only included usage of all of RC’s high tech marketing tools such as Placer data, Matterport Virtual Tours, and Retailsphere, but also included using “old school” marketing techniques such as cold calling and local canvassing.

The Project:

• Newly continued 9,413 SF neighborhood retail center;
• Two (2) level structure with a elevator with a large rooftop deck;
• Located just off Route 28, at the intersection of Route 606 and Shaw Rd

Accomplishments:

• RC was able to “pre-lease” several spaces at the property, so as to facilitate timing of the project to provide leasing momentum.
• RC leased 100% of the space in the building and stabilized the cash flow for the owners.
• RC assumed management of the project in 2023 and have taken steps to physically improve the appearance of the building, provide institutional quality financial reporting, and provide weekly visits to the property to forge good tenant relations and assure that the property remains in first-class physical condition.