Lease-Up Success: Achieving 100% Leased at Riley

As a laser-focused leasing service, Corridor is trusted by numerous multifamily developers and property managers to lease their properties successfully. At Riley, we partnered with North Bay Companies to execute the lease-up of this stunning Class A property and deliver results exceeding pro forma.

Riley Insight
  • Mar 06, 2023

Project Details

Located in thriving Richfield, MN, Riley offers residents smart and stylish living in a first-ring suburb of Minneapolis. Nestled in a lovely neighborhood, Riley provides residents with a hometown feel alongside easy access to the Twin Cities finest entertainment, shopping, and parks.

The property hosts 82 apartments with studio, one-bedroom, and two-bedroom units at an affordable price point. Corridor worked with North Bay Companies to execute a lease-up strategy to lease Riley quickly and efficiently.

Our Approach

Corridor's leasing approach integrates a mix of on-site and virtual tours, providing renters with multiple options to tour Riley at their preference and convenience. Leasing Agent Anna Winkel spearheaded Corridor's leasing efforts, providing outstanding communication and professionalism throughout every transaction.

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The Results

Corridor's leasing process was highly effective, and the results speak for themselves. The apartments were 60% leased on opening day, an impressive feat considering the current market conditions. Within 60 days of opening, the Riley was fully leased, with 82 leases signed. Throughout the lease-up, Corridor aided North Bay Companies in increasing Riley's rental rates based on renter demand resulting in exceeding project pro forma with outstanding results.

As a testament to our partnership with North Bay Companies, Corridor will continue providing ongoing leasing support as Riley transitions to stabilization.

Get in touch

If you're looking for professional leasing services, Corridor is a trusted partner who can help you achieve your leasing goals.