How Much Does Property Management Matter?

McGinley: “Some factors we’re watching closely include channel fragmentation, omnichannel sales growth (meaning online, in-store, and multi-media sales) and smaller prototypes for both tenants and centers.”

PLACENTIA, CA—Property management plays a critical role in the success of a retail center, particularly as this sector becomes increasingly more competitive for consumers’ attention, loyalty and dollars, Vestar’s president of management services Patrick McGinley tells GlobeSt.com. The firm was recently chosen to handle property management for Placentia Square, a 27,930-square foot community retail center here, and Courtyard at Carmel Mountain Ranch, a 128,000-square-foot community retail center in San Diego. We spoke exclusively with McGinley about the role property management plays in the success of a retail center and what property managers should be focusing on at this point of the economic cycle.

GlobeSt.com: What role does property management play in the success of a retail center?