PROPERTY MANAGEMENT

Protecting your investment, maximizing your return on it, and serving as the liaison between landlord and tenant. That’s the essence of property management. As your property management company, that’s what we do. And we firmly believe that nobody does it better. We are seasoned experts in every facet of commercial property management, from product marketing, leasing, and contract management to building operations, maintenance, accounting and financial reporting.

Every member of our Property Management team is highly qualified, well trained, and responsive, with your economic interest at the forefront of their daily activities. “Team” is the operative word when it comes to successful commercial property management.  We’ll work closely with you to develop a property management program centered on cost-efficient operation and tenant retention, and customized to your individual style.  In the event a management problem should arise – simple or complex – we combine experience with creativity to come up with solutions as innovative as they are effective. 

Our knowledge and understanding of the uniqueness of the Coachella Valley market is a decided advantage in managing your commercial property.  It’s easy to see why astute Coachella Valley investors have made Sharp Commercial, Inc. their first choice in commercial property management.

Comprehensive Property Management Services

Our services are as individual as your needs. Select the services that fit your needs, individually or bundled for maximum efficiency.

• Property Diagnostics
  It’s vital to have the complete picture of a property: physical condition, financial operations, existing debt, management, leasing and marketing strategy, exit strategy and estimate of value. Once we have evaluated all facets of the property, we will recommend strategies to maximize cash flow, minimize losses, attract and retain tenants, optimize management, achieve ownership goals, and increase property value.

• Property Condition Reports
  Reports will detail the physical condition of the property, indicating all items – both short-term and long-term – needing to be addressed.

• Valuation
  Sharp Commercial, Inc. can provide comprehensive property valuation services, including a market analysis, recent comparables, cash flow, and appraisal if needed.

• Property Management
  Our complete property management services encompass tenant services, building operations and maintenance, lease administration, accounting and financial reporting.

• Construction Management
  Construction for capital improvement, maintenance and tenant build-puts is eminently easier when you partner with Sharp Commercial, Inc. We’re experienced in working with architectural, engineering, municipalities and construction firms in planning and coordinating construction projects of any size and complexity. We know what it takes to maximize cost-efficiency without sacrificing quality. We know the importance of keeping to budgets and deadlines, and minimizing disruption to business-as-usual at your properties. And every step of the way, we provide financial and administrative tracking.

• Engineering & Technical Services
  Preventive maintenance. Energy conservation. Vendor selection. Safety and training. They’re all vital to a successful property – and all part of the service we provide our clients.

• Leasing Services
  We tend to every leasing detail, from successful marketing strategies needed to attract tenants to renewal and/or expansion of existing leasing contracts. Sharp Commercial’s extensive brokerage experience enable us to assemble the most qualified leasing team for your project. We market your property aggressively, and have a track record to prove it.

• Market Analysis
  How does your property fare in an ever-changing marketplace? Our expert market analysis will help you determine where your property stands in the face of variables such as lease rates, lease terms, current values and trends.

• Due Diligence
  When acquiring property, it’s vital to review leases, vendor contracts and property operation; prepare performa to show rent or income projections; develop property operating budgets; and assess operating cost escalation billings.  Our due diligence services are comprehensive and complete. 

• Disposition Services
  When it comes time to sell your property, Sharp Commercial, Inc. will assemble the premier team of sales professionals and develop an aggressive, proactive sales and follow-up strategy. Our success rate in the Coachella Valley commercial real estate market speaks for itself.

• Acquisition Services
  Sharp Commercial, Inc. assists developers and investors in the acquisition of real estate projects. Our full range of acquisition services includes seeking out both market and off-market properties, negotiating and preparing acquisition agreements, cash flow analysis, and due diligence.

• Debt Placement Support
  We have established relationships with lenders and mortgage brokers, and can work with you to review your current financing, offer recommendations, and help you recapitalize adverse debt.

• Receivership Services
  Our real estate receivership services will incorporate an experienced, bonded, court-appointed receiver whose responsibility is to find the best interim management solution for each asset. A detailed report provides vital information about the asset, as well as timely, accurate, detailed accounting and reporting. Sharp Commercial, Inc. will coordinate market analysis, marketing and due diligence.

The Proof is in the Performance

It’s easy to tout capabilities and promise results in real estate development management. Our record of success speaks volumes about the talent, expertise and commitment of the Sharp Commercial, Inc. team. Here are just two of the Coachella Valley real estate development projects astute investors have entrusted to Sharp Commercial, Inc., with impressive bottom-line results.   

Coachella Shopping Center
Description:       Lease and manage newly purchased shopping center in Coachella, CA.
Majors:                Ranch Market and Rite Aid
Assignment:     

• Convert existing tenants to standardized lease agreement
• Increase rates to market on long term leases
• Bring property to acceptable physical standards without increasing CAM
• Coordinate proposed renovation of center
• Obtain all municipal approvals
• Secure refinancing offers

Challenge:  Coachella Shopping Center was purchased by anchor tenant Ranch Market. Rite Aid, who had notified of intent to vacate, did so 12 months early, and built a new store within one mile. The majority of tenants were on month to month leases, rents were significantly under market. The center had not been maintained and suffered from extreme deferred maintenance.

Accomplishments: 

• Converted 90% of tenants to standardized lease
• Increased all rents to market value
• Brought deferred maintenance to an acceptable level while maintaining CAM costs
• Coordinated renovation with architects, engineers, owner
• Obtained all municipal approvals
• Increased NOI by $250,000 annually within 9 months
• Secured refinance offers exceeding purchase price by $4,000,000

 

Paseo Fashion Plaza
Description:       Locate and fulfill 1031 Exchange requirement on unlisted center, negotiated purchase price at an 8.25% cap rate and closed escrow in a period of three weeks.  Highly visible El Paseo center with month to month tenancies.
Tenants:              Small business owners
Assignment:     

• Evict tenants in default.
• Convert existing tenants to standardized lease agreement
• Lease all vacancy to credit tenants at market rate at beginning
• Renegotiate existing tenant’s leases to long term, market rate.
• Coordinate immediate refinance on center

Challenge:  Paseo Fashion Plaza is a highly visible retail center on El Paseo. The majority of tenants were on month to month leases, rents were significantly under market, and many tenants had been in default for some time. Evict tenants that were not salvageable, renegotiate tenants that were credit worthy on a standardized lease form at market rents and lease 70% vacancy in a period of 9 months.
Accomplishments: 

• Converted tenants to standardized lease
• Increased all rents to market value
• Leased 100% of vacancy to credit worthy tenants at market rates
• Increased cap rate from 8.25% to 15% within 9 months, which permitted the owner to refinance several times at much higher values
• Successfully sold property at a $4,000,000 increase over original purchase price just five years prior and in a declining market.