Lake Plaza Case Study Overview
In five years, Lake Plaza increased occupancy from 77% to full stabilization and grew annual base rent by nearly 38%, creating over $2 million in value through leasing execution alone.
Executive Summary
This case study highlights the leasing and operational transformation of Lake Plaza, a multi-tenant office property located at 6801 Lake Plaza Dr, Indianapolis, IN. Performance from takeover in 2020 to stabilization in 2026 demonstrates significant value creation driven by vacancy reduction, rental rate normalization, and strategic tenant mix improvement.
Over a five-year period, Lake Plaza was repositioned from a partially vacant, under-rented asset into a fully stabilized, income-producing property, with long-term lease security and materially stronger revenue performance.
Detailed Performance Analysis
1. Occupancy Growth & Stabilization
At takeover, Lake Plaza was only 77.4% occupied, with more than 9,000 SF of vacancy limiting income performance. Through proactive marketing and disciplined leasing, the property achieved full stabilization, converting non-performing space into revenue-generating tenancy.
- +8,446 SF of additional occupied space
- Vacancy reduced from 22.6% to effectively zero
This lease-up significantly strengthened the asset’s cash flow reliability.
Conclusion
Lake Plaza’s transformation demonstrates the power of disciplined leasing and asset management. By eliminating vacancy, modernizing rental rates, and improving lease duration and tenant quality, the property was repositioned into a fully stabilized, lower-risk income asset.
The result is stronger cash flow, reduced rollover exposure, and over $2 million in value creation, validating the effectiveness of the leasing strategy.
To view the full case study, including Before & After Performance Metrics, click here or visit our Case Studies section: https://premiercommercialre.com/wp-content/uploads/2026/02/Lake-Plaza-Case-Study.docx-1.pdf
