Vandalia Tower

Element has played a pivotal role in revitalizing a stagnant leasing process at Vandalia Tower, a historic building once home to King Koil mattress factory, which had been facing a significant 40% vacancy challenge. Since 2022, Element has collaborated closely with owner, Baum Revision, in devising a leasing strategy, embracing the opportunity to reposition the asset to attract a broader mix of tenants amid the constraints of converting shell spaces due to rising construction & transaction costs.

‍Role
Element led leasing strategy, marketing, and tenant advisory in close partnership with ownership, shaping both near-term leasing execution and long-term positioning.

Opportunity & Challenges
Vandalia Tower, a former industrial campus, faced significant vacancy and inconsistent leasing momentum. The opportunity was to reposition the asset into a cohesive, design-forward destination that could attract a diverse mix of creatives, makers, and office users, while navigating complex tenant buildouts and rising construction costs.

Approach
Element implemented a multi-layered leasing and repositioning strategy, introducing spec suites, refining tenant mix, and activating the property through events and storytelling to reinforce a strong creative identity.

Results
→ 70,559 SF leased over the last 3 years
→ $179,415 total deal value executed
→ Diversified tenant mix across office, retail, and creative uses
→ Repositioned asset as a leading creative campus destination