The Dagar Group Ltd. has implemented its innovative approach for leasing and management to successfully reposition many underperforming assets over the years. Dagar has been sought out by Owners seeking to maximize the value of their investments. The following are highlights of those successes:
- Assumed control of 100,000 SF retail property acquired at auction. Handled site plan revisions to add 10 screen theatre, sit down restaurant and two free standing pads immediately increasing project value. Years later a new pad building was constructed and leased to two highly rated national chains.
Began management and leasing in 1997 of 180,000 SF urban enclosed mall with occupancy of fifty five percent. Seven years later property was repositioned and sold with ninety four percent of space leased.
- Identified retail asset with environmental issues for national investment fund. Purchased with twenty five percent vacancy factor, then anchor filed Chapter 11. Dagar leased satellite space and anchor location to two rated national chains. Property was then successfully marketed and sold.
- Retained as managing and leasing agent by owner to replace minority equity partner. Completed site work, resolved outstanding tenant and municipal issues. Discovered
additional recoverables for CAM in excess of $70,000.00 annually. Opened 35,000 SF of new space leading to sale of asset at above market return. - With criminal citations pending against Landlord, Dagar assumed management responsibilities of a retail project. Arranged buy out of major tenant lease and unused space after anchor relocation at property. Money utilized for property improvements and vacancies leased for rents well above market. Developed renovation plan which was approved by local Architectural Review Board.
- Selected to manage first privatization of asset owned by New York Port Authority in Westchester County, New York. Handled transition for new Owners and interacted with
local unions in successful effort to financially stabilize and enhance property value. - Partnered with investment group to develop supermarket anchored property. Dagar secured major tenant by relocating national chain from failing project across from site. With anchor lease and majority of satellite store leases in place, property was purchased by REIT to build.
- Appointed leasing and managing agent of supermarket anchored center with 33% vacancy factor on small stores. Over a period of several years Dagar was able to attract a strong mix of national and regional tenants. Sought and received approvals for high tech digital pylon sign on highway displaying each tenant name.
- The company along with several adjoining property owners worked together with NYSDOT to change the signalization of traffic lights on Route 17 effecting both Woodbury Centre and Woodbury Common Premium Outlets, resulting in better traffic flow to all properties.
- The difference is a result of the Dagar Management Team at work, combined with an aggressive leasing and management program. Properties managed by the company continue to operate with no major arrears in monthly rents and with a minimal vacancy factor.