Does Rebranding an Office Asset Pay Off?

Root: “Things to consider include the property’s reputation and history: how does that history fit within the community today and what is the ownership’s vision of the property’s future?”

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.