St Paul Place is a 273,000 Class A office building inDallas’ Arts District. The building is 36 years old and had a highly fragmented technology infrastructure. Over the last three years Honeycomb has worked with ownership to develop an entirely new tenant experience.
Improved Tenant Experience, Increased Efficiencies, Cost Savings, and New Avenues of NOI
Increased tenant satisfaction from 10% to over 70%
Increased NOI >$85,000 annually
- Underperforming Operations & Lack of Knowledge
- Dated Access Control & Parking Systems
- Communication & Culture Issues
- Lack of Tenant Integration & Amenity Usage
With Honeycomb’s one-of-a-kind singular solution:
- 12% occupancy increased to 75% within a year, with 400% revenue increase and longer leases. Parking streamlined and energy demand reduced, resulting in new opportunities for revenue and $50k in cost savings.
- Hardware and software updated, elevating the tenant experience, and increasing parking revenue by 30%
- 100% user reach, tenant satisfaction rocketed to 70%
- Building now generates additional $20k annually for amenities and another $24k for approved vendor services. 90% of new tenants buy one or more services through the platform.