Full-service, high-growth commercial property management firm dedicated to delivering tailored management solutions to property owner clients, across Washington State. The firm specializes in large-scale retail shopping centers with widely recognized retail brands as tenants, big box warehouse store locations for retail or industrial uses and select offices or business park properties. Across these commercial properties, the firm currently has over 2.8 million square feet of property under management, made up of 659 units across a total of 72 buildings.
The firm operates with a technology-driven business model that has helped to enable rapid and scalable growth within their target markets. The firm's core services are supported by intentional investment in digital infrastructure that has allowed the firm to support an expanded property portfolio with less administrative support staffing compared to local competition. The services are designed to maximize client returns, by improving occupancy rates, and reducing the burden of administrative tasks, improving overall efficiency with the properties under management. For instance, the firm has recently achieved a 40% adoption rate with its commercial tenants for a web-based payment portal, increasing processing capacity for a routine task while reducing overall staff time required for payments management from tenants.
Other technological tools, have reduced administrative burden in other areas of operations, including a web-based system that has improved accounts payable processing time by nearly 3-fold. Artificial intelligence tools with third-party human review have also reduced the internal burden for the firm in abstracting complex commercial leases, and the lease abstracting software can directly incorporate information into the firm's accounting software.
Altogether, the continued investment in technology has reduced staffing needs internally and has allowed the firm to respond to growth opportunities more efficiently. The results of such investment in scalable processes and supporting software infrastructure can be seen clearly in the firm's operating results trends, where management fee revenues have grown from $1.1 million to over $2.5 million between 2020 and 2024, reflecting a compound annual growth rate of 22% in contrast to the current industry average around 1.9% during the same time period.
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