In 1997, the Blacketer Company, one of Louisville's premiere residential, office and retail developers, undertook an aggressive office condominium development in Louisville's east end. At the time, this was the largest development of its kind, with over 40,000 square feet of office condominiums to sell.

The Blacketer coordinated with Mark Helm in various development stages based on previous experience and success with a similar condominium development, Sterling Place Business Park . This office park represented a very high end product in the growing Middletown Kentucky market. Pre-sales were brisk.

At the time, Middletown Professional Park was the highest per square foot sales in the market place. Mark developed targeted marketing materials and communication strategies to identify specific users as opposed to just running ads which proved very successful.

As the sales came in, an abundance of medical buyers emerged. While good news to the developers, Medical users need an abundance of parking. It quickly became apparent that at the rate of sales to medical tenents, the project would run out of parking for buyers at the end of the project. To overcome this potential issue, the project design was altered from two storiy to one story buildings therby reducing the total square footage of the project. Though the physical area was reduced, the shell price was increased significantly offsetting any potential shortfall from this reduction in size. It was an aggressive plan, but one that was a response to the market conditions. Mark's market knowledge and ability to change marketing direction proved successful, and the project was sold out almost a year ahead of projections.

Contact Mark Helm to learn more about how he and the Helm Properties team can help you with all of your commercial real estate purchasing, sales and development needs.

Back to Client Success Stories