With a slowdown in real estate investment trust spending in 1999, many large REITs decided to utilize in-house management resources rather than contract to third-party property firms.
So CB Richard Ellis turned its attention to creating new business.
“More companies were still buying buildings and that provided more opportunities to expand our service base,” said Barry Katz, managing director for CB Richard Ellis’ property management operations in LA and Orange County.
The company had a year earlier substantially expanded its own property management portfolio by acquiring Koll Management Services.
The firm picked up several trophy properties in 1999, including 1900 Main St. in Irvine, which is owned by Koll Development. CB Richard Ellis also took the management contract for the LNR Commercial Building in Newport Beach on the old Slemmons auto dealership site.
CB Richard Ellis also increasingly sought to streamline its sell and management operations, according to Katz. With consolidation continuing last year, he said companies that can offer one-stop shopping to customers will prove to be the survivors in coming years.
“Economies of scale and pricing are becoming more and more important,” said Katz. “Everyone’s trying to round up their line-up to compete on both a regional as well as a national level.”
LARGEST PROPERTY
MANAGERS
CB RICHARD ELLIS
Square feet under management: 18.35 million
Phone: (949) 725-8500
Top OC official: Barry Katz, managing director
INSIGNIA/ESG
Square feet under management: 14.16 million
Phone: (949) 788-3000
Top OC officials: John Combs, president; Danielle Sim, managing director
TRANSWESTERN-VOIT PROPERTY
MANAGEMENT
Square feet under management: 11.79 million
Phone: (714) 437-3484
Top OC official: James Estrada, VP of management services
DAVIS PARTNERS INC.
Square feet under management: 8.30 million
Phone: (949) 752-2066
Top OC official: Bill Davis, president
CORELAND CARLSON
Square feet under management: 6.23 million
Phone: (714) 573-7780
Top OC officials: Paul Carlson/Patrick Galentine/Chris Hite, presidents
MADISON MARQUETTE RETAIL SERVICES
Square feet under management: 5.63 million
Phone: (949) 720-3370
Top OC official: Joe Janosko, senior VP management services
PM REALTY GROUP
Square feet under management: 5.45 million
Phone: (949) 794-1700
Top OC official: Jim Proehl , senior vice president
ESSEX REALTY MANAGEMENT INC.
Square feet under management: 5.20 million
Phone: (714) 540-5188
Top OC official: Jim Niger, executive vice president
DONAHUE SCHRIBER
Square feet under management: 4.16 million
Phone: (949) 854-2100
Top OC officials: Daniel Donahue, chairman/Thomas Schriber, president
LEGACY PARTNERS
Square feet under management: 3.79 million
Phone: (949) 561-2100
Top OC official: Terry Thompson, vice president operations
JONES LANG LASALLE AMERICAS INC.
Square feet under management: 3.40 million
Phone: (949) 222-1022
Top OC official: Steven Zaccagnini, senior vice president
SARES-REGIS GROUP
Square feet under management: 2.95 million
Phone: (949) 756-5959
Top OC officials: William Thormahlen/Geoffrey Stack/John Hagestad, managing directors
CHARLES DUNN REAL ESTATE
SERVICES INC.
Square feet under management: 2.80 million
Phone: (949) 752-2311
Top OC official: R. Scott Allenborn, vice president
JOHN BURNHAM & CO.
Square feet under management: 2.16 million
Phone: (949) 833-2462
Top OC official: Earl Butler, vice president
GRUBB & ELLIS MANAGEMENT
Square feet under management: 2.00 million
Phone: (714) 939-6049
Top OC official: Ross Crowe, VP regional operations
CUSHMAN & WAKEFIELD INC.
Square feet under management: 1.96 million
Phone: (213) 955-5100
Top OC official: William Hunt, managing director
PACIFIC WEST ASSET
MANAGEMENT CORP.
Square feet under management: 1.91 million
Phone: (714) 433-7300
Top OC official: Christopher G. Louis, president
WINTHROP MANAGEMENT
Square feet under management: 1.80 million
Phone: (949) 851-1660
Top OC official: Janine Padia, vice president
McKENNA & CO.
Square feet under management: 1.50 million
Phone: (949) 580-0077
Top OC official: Connie Otis, project manager
OPTIMA ASSET MANAGEMENT
SERVICES INC.
Square feet under management: 1.40 million
Phone: (949) 852-0900
Top OC official: Doug Morehead, President
