Transwestern Secures New Tenant Through Increasing Market Awareness to Critical Audiences

Introduction

Transwestern is a real estate services firm that offers a range of leasing and CRE services. Working with clients across various sectors, they recognize that antiquated leasing methods alone aren’t efficient in leasing space at the highest level possible. Instead, the forward-thinking company focuses on proactive strategies to support Providence Towers’ leasing efforts from multiple angles, consistently reaching audiences that enable transactions.

Find

Providence Towers is one of the most recognizable buildings in Dallas, commanding the eye with its structure and iconic archway. It spans +524,000 RSF and has 12 floors. Transwestern understood that in a competitive office market, they had to combine their unique leasing strategy, market expertise, and RealtyAds’ dynamic AI technology to enable leasing for this asset. 

In 2020, Providence Tower facilitated a strategy through RealtyAds to reach potential tenants on the top customer acquisition platforms. The Transwestern leasing team performs annual proprietary tenant research projects to better understand who occupies space in competing assets to Providence Towers. This valuable data, paired with leasing enablement software, helped them gain proactive exposure to ideal prospective tenants, such as Fieldwork. Before even entering Transwestern’s pipeline, decision-makers at Fieldwork were engaging with Providence Towers’ digital presence. This is a prime example of a leasing strategy that creates more educated prospects, reiterates value to active pursuits, and influences leasing activity.

By proactively reminding prospects of the property’s move-in-ready suites, motivating environment, and prime amenities throughout the sales cycle, Transwestern helped ensure that Providence Towers remained top of mind and differentiated from competitors before top prospects even landed in their pipeline, ultimately helping them find more prospective deals in a competitive market.

Advance

In June 2020, Fieldwork was incorporated into Transwestern’s company targeting approach, meaning they specifically targeted decision-makers and their brokers who have the power to influence a transaction. By December, these critical audiences began engaging with Providence Tower’s digital presence. Over the next two years, Fieldwork’s C-Suite interacted with the digital presence over 85 times. These consistent and relevant touchpoints at the most crucial times in the sales cycle helped to advance the deal with Fieldwork. 

From inquiry to the legal stage in May 2023, Fieldwork engaged with Providence Tower’s digital presence over 300 times. When the lease was executed in June 2023, decision-makers had interacted with Providence Towers over 500 times since establishing their RealtyAds strategy in 2020. 

Close

Through increasing market awareness via RealtyAds, Transwestern closed a lease with Fieldworks totaling 14,102 SF and more than $2,500,000 in transaction value. With 500+ engagements over 30 months, Transwestern proactively worked to increase asset exposure and leverage their market expertise via essential leasing enablement software.

Traditionally, 86% of commercial real estate pursuits fail to close, meaning only 14% of prospects successfully move down the leasing funnel. Transwestern understands the importance of being proactive in commercial real estate and that antiqued leasing strategies don’t effectively or efficiently influence prospects to sign a lease. By pairing their market intel with leasing enablement software, they successfully close 20% more deals than their competition.

To keep your assets competitive, you must pair your market intel with tools that place your value directly in front of audiences that influence leasing activity and can ultimately sign a lease. Staying consistently in front of these critical audiences as they make their buying decisions is crucial to winning more deals. Transwestern strategically pairs RealtyAds with their unique leasing strategy to help them find, advance, and close more deals. 

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