SAN DIEGO—Many factors need to be considered when rebranding an office asset, including the age of the building, time between renovations, tenant mix and the asset's changing reputation, Parallel Capital Partners' CEO Matt Root tells GlobeSt.com. The firm recently completed more than $1.2 million in renovations at the Ranch at Seal Beach and rebranded the class-A property, previously known as Bixby Office Park.
Parallel acquired the three-building complex in 2013 for $85 million and soon after embarked on a comprehensive rebranding and repositioning program, developing a new logo, name and signage for the property. We spoke with Root about what it takes to reposition and rebrand a class-A office complex and why ultimately it makes financial sense.
GlobeSt.com: What goes into a name change—and what makes it worth the considerable time and expense involved?
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
