Kenwood announces that its year end portfolio achieved 94%
BETHESDA, Md. - Jan. 4, 2017 - Today Kenwood Management announced that this portfolio reached 94% occupancy as of December 31, 2016, up 200 basis points from 12 months ago.
During the last 12 months, Kenwood executed 57 leases totaling over 260,000 square feet. This included 32 renewals, 6 expansions and 19 new leases. Sunbelt Rentals, Heartland Dental, SunTrust Bank, General Dynamics, Orbital Science, Renewal By Anderson, and Georgetown Cupcake are among the tenants that completed leases in 2016.
"During the last 12 months, we experienced continuing strength in both our office and industrial portfolios. The office portfolio achieved an overall 87.9% occupancy and the industrial portfolio reached 95.4% occupancy. This demonstrates both the quality and exceptional location of our assets", said Phil Ackley, Principal at Kenwood Management. Bill Singer, also a Principal at Kenwood added, "Despite our acquiring a portfolio of single story office properties in late September which were 78% occupied, we still were successful in raising the portfolio occupancy over last year."
Kenwood specializes in assets with smaller tenants. Kenwood's portfolio of 1.3 million square feet includes 163 tenants. Medstar, GSA, Franklin & Prokopik attorneys, and CED Electrical are current tenants within its portfolio.