At Rising, we are always monitoring market trends and cultural shifts in the workplace. By having our finger on the pulse, we’re able to understand, predict, and ultimately exceed the needs of our tenants. That said, we know that millennials are the largest workforce this country has ever seen, and they are continuously redefining modern work culture as we know it. While it may sound trite, the modern workforce has different priorities than previous generations.
By Kelsi Maree Borland | GlobeSt.com
Property management firms are proving to have an important impact on driving value and the success of an asset. One example of the growing importance of property managers is Catalina Landing. Colony Northstar purchased the struggling 280,00-square-foot office property in August 2015, and hired Rising Realty Partners to develop and execute a strategy to turn the property around.
While it may seem every building lobby has transformed in the way they look, feel, and operate, we have observed that this is simply not the case. Many properties are behind the times in their approach to management, the lobby in particular. Whether it’s poor lighting, unfriendly staff, or an overall stuffy experience, this lack of care in management for the what is often a visitor or potential tenant’s first impression not only leads to a poor user experience, but an overall decrease in property value.
Building lobbies have historically been used solely as an entry from the outside and a means to get to the elevator and go straight up to the floor you need to get to. In recent years, developers began thoughtfully transforming lobbies into spaces that people actually utilize beyond just a passageway.
When you think of 3rd Party Property Management, you think collecting rent, coordinating with janitorial and security services, and addressing complaints from your tenants. However, good property management is more than just the sum of its parts... It involves a combination of best practices that will keep your tenants happy with what they're investing in. Here are a few ways to help you identify ways in which your property management team might be failing, and how to improve this tenant-landlord relationship for the benefit of both parties:
You may remember Catalina Landing as your departure point on Catalina Express. Catalina Landing is a waterfront 4-building campus totaling 280,000 sq. ft. located at 320-340 Golden Shore in Long Beach, CA. The project unfortunately went through a period under prior ownership where the aesthetics were allowed to deteriorate.
Many are anticipating the construction of the new Long Beach Civic Center.
When it is built, it will mark the first time a U.S. municipal government will deliver a city asset under a performance-based “design-build-finance-maintain” structure, according to Plenary Concessions Executive Chairman Dale Bonner.
Los Angeles Business Journal | By Daina Beth Solomon
Google owns more than a dozen data centers around the world – giant warehouses buzzing with servers that let internet users download Beyoncé videos, email puppy photos, or look for the nearest gas station on their smartphone.
The New Year typically brings many resolutions, many focused on “doing better at ______.” This is a natural time to discuss a primary goal of many enterprises: providing better customer service. Whatever you call it: satisfaction, experience, support, you know it when you experience it. Most strive to provide it, and everyone appreciates it when they receive it.
By Karen Jordan | Bisnow
Rising Realty Partners has built its reputation as an owner/operator, including properties such as the five-building The Park DTLA on Figueroa Street, but the firm has a wealth of experience in third-party property management.
Rising Realty Partners SVP of third-party services and 5x5 Telecom co-founder Marc Gittleman tells Bisnow one of the things that differentiates Rising Realty is "every building gets its own personality whether it’s a building we own or whether we third-party manage."
Rising Realty Partners understands what tenants and owners want and need, he says.
To capitalize on those skills, Marc is expanding Rising's third-party services by combining the property management team’s extensive institutional expertise in office, data center, medical, industrial and retail real estate with Rising’s unique concierge property management platform for the benefit of other owners.
Marc says a lot of people have only seen Rising as an owner/operator with vivid case studies like PacMutual and the 3.3M SF of property Rising owns and third-party manages.
“I assembled a team who has managed property for some of the most prominent institutions in the world, then combined that expertise with Rising's unique approach to management," Marc says.
"Now, I am reaching out to other owners with our deep bench of highly experienced managers to deliver the same team and success to a broad set of third-party owners and properties."
Two new clients Rising Realty Partners has are Catalina Landing in Long Beach, which is nearly 280k SF, and Pasadena Corporate Park, a 264k SF property.
While Rising continues to acquire and develop property, expanding third-party management is a business line the firm is passionate about, "expanding further based on our property management division's outstanding experience in serving our tenants," according to Marc.