Case Studies

Central Five Hundred

Positioned at the intersection of I-75 and The George Bush Turnpike, Central 500 is a popular destination for regional and corporate users due to the proximity to major thoroughfares and the formidable demographics of the Richardson, Plano, and Allen communities.

Formally known as The Atrium at Collin Ridge, the building had a strong infrastructure. However, the lack of amenities, outdated interior and exterior finishes, and neglected maintenance repairs from the prior ownership led to a dilapidated environment. Dogwood Commercial saw the potential and executed a business plan that included a full scale building renovation that included: common corridor and restroom renovation, lobby renovation, new common conference center, new tenant lounge, new fitness center, renovated deli, parking lot repairs, renovated parking garage, overhaul of lighting from fluorescent to LED, improved lighting, new monument sign, exterior upgrades, and new spec suite program. These improvements created and occupancy gain of 39.27%, increased rental rates by 32.5%, and raised renewal rates by 13%.

Results

39%

Occupancy gain

32.5%

Rental rate increase

13%

Renewal rates raised

Transformation

The full building renovation includes a complete overhaul of the building interior and exterior as well as the installation of upgraded amenities, including a full-service gym and locker room, a tenant lounge, an 80-seat conference center, and an expansive exterior seating area with a fire pit and putting green.

Exterior

Removed overly mature trees, cleaned and painted all exteriors and ground surfaces. This made the building more visible and immediately felt more modern.

Before: Building Exterior

Before: Monument Sign

Updated Building Entrance

Interior

Painted all surfaces, added new flooring, replaced outdated water features and plants, with modern new furniture, art, and floral arrangements. This opened up the spaces and made it brighter, more inviting, more social.