CP Group Partners with JLL Leasing and Marketing Teams to Accelerate Leasing Success

In the wake of the COVID-19 pandemic, CapRock, an underperforming suburban office park, faced significant hurdles in attracting tenants back to the workplace. The property struggled to differentiate itself in a highly competitive market, where many office buildings were vying for occupancy. Compounding this challenge was the Rock Spring market's record negative absorption of -800,000 RSF from 2022-2024 and a staggering increase in vacancy rates from 15.3% to 28.1% between 2020 and 2024. CapRock needed a transformative strategy to overcome these market headwinds and position itself as a desirable office destination.

JLL's property marketing team, in collaboration with CP Group, devised a comprehensive rebranding and marketing strategy to revitalize CapRock. Despite a compressed timeline of just seven months - reduced from an initial 18-month plan - the team swiftly worked with a third-party creative agency to develop and execute a full suite of high-end deliverables. This included creating innovative marketing materials such as a compelling property brochure and a state-of-the-art website, designed to spark interest and initiate tour experiences for potential clients. The campaign effectively communicated the vision for the future campus, leveraging the new ownership and highlighting a multi-million-dollar renovation that transformed CapRock into a lively, amenity-rich office destination. The strategy culminated in a high-profile broker event in the newly completed town hall, marking the launch of CapRock's new identity.

The strategic marketing efforts yielded impressive results, setting CapRock apart in a challenging market landscape. The property saw a significant boost in tour activity, averaging eight tours per month - a substantial increase that contrasted sharply with the broader market's negative trends. This heightened interest translated into tangible leasing success, with executed leases totaling 85,000 RSF and additional Letters of Intent (LOIs) for 56,000 RSF. These achievements were particularly noteworthy given the market context, demonstrating CapRock's ability to attract tenants despite the overall market experiencing record negative absorption. The campaign's success in showcasing CapRock's unmatched amenities through compelling storytelling and engaging visual content proved instrumental in reversing the property's fortunes and establishing it as a sought-after office destination in a competitive post-COVID market.