Hertz Investment Group Lease 450,000 Sf Of Class-a Office Space In New Orleans To End Q3

In spite of unexpected COVID-19 related delays and natural disasters in New Orleans, companies are returning to in-office work.
By: Hertz Investment Group
 
NEW ORLEANS - Oct. 29, 2021 - PRLog -- Hertz Investment Group, the largest Class-A office space owner in Louisiana, has leased 150,000 SF of new space and renewed 300,000 SF at their New Orleans properties, since January 1, 2021. Despite several COVID-19 delays and Hurricane Ida, Hertz has successfully executed several new leases, renewals and expansions, as well as mitigated and repaired damage cause to properties as a result of the hurricane.

"We were able to navigate and help professionals through the pandemic and now we've recovered from the hurricane. The increase in tenants leasing office space this year is an indication that back-to-work plans have been put in motion," said Jim Ingram, Chief Investment Officer and Executive Vice President, in charge of the firm's Southern region. "Companies are evaluating their space needs and securing space now, in anticipation of moving forward in the future."

After more than a year of working remotely, New Orleans professionals are returning to their downtown offices. Even during the pandemic when most office staff was instructed to work from home, Hertz offered access to Connect Hub, at 400 Poydras Tower, a coworking space that allowed individuals who did not have access to a workspace or highspeed internet at home to work in an environment that offered all the comforts of Class-A office space while observing strict COVID social distancing and hygiene measures.

This past year, several new leases were signed which included the Louisiana Children's Medical Center, UBS Financial Services, and the Louisiana Public Health Institute.

The Hertz portfolio includes seven office properties in Louisiana, with five office towers located in New Orleans. The new tenants are primarily concentrated at the Energy Centre, located at 1100 Poydras Street, 400 Poydras, 909 Poydras and Hancock Whitney Center, located at 701 Poydras Street. All four skyscrapers are considered local landmarks in their own right and are among the most desirable high-rise office spaces in the area.

"At Hertz, we've always kept our eye on increasing occupancy and maximizing value," emphasized Ingram, who has led the acquisition of 31 office properties in his current position. "There is no question that Class-A office assets maintain their value and provide an environment that serves as a magnet for companies as they move forward."

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About Hertz Investment Group (https://www.hertzgroup.com/)
Founded in 1977, Hertz Investment Group is a fully integrated real estate investment firm that acquires, markets and manages signature high-rise office properties throughout the United States. Currently, its portfolio of investment properties comprises more than 16.5 million square feet located in 21 cities throughout the United States. For more information, visit www.hertzgroup.com. (https://www.hertzgroup.com/)

Contact
Raegan Haggard
rhaggard@hoytorg.com
3109336841
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Tags:Real Estate
Industry:Real Estate
Location:New Orleans - Louisiana - United States
Subject:Earnings
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