NEWPORT BEACH, CA-AEW Capital Management has awarded RiverRock Real Estate Group an assignment to manage a 3.2-million-square-foot office and industrial portfolio in Southern California and Arizona. The assignment brings RiverRock’s total square footage of commercial space under management to more than 25 million.
The locally based firm has taken over the property management, leasing oversight and engineering of 28 properties for AEW. RiverRock will add approximately 30 employees who currently manage the properties. The company will be assuming regional offices in Santa Fe Springs, Rolling Hills, Upland, Riverside and the San Gabriel Valley, as well as Phoenix.
“We are excited about this new opportunity with AEW,” says Steve Core, president of RiverRock. “We have an excellent management team in place, and we hope this assignment leads to future growth in new markets.”
Core tells GlobeSt.com that the portfolio assignment increased its square footage under management by roughly 10%. “In Phoenix, we had a little more than 4 million square feet, and the addition helped boost our holdings under management in Phoenix.”
As GlobeSt.com reported in July, we caught up with Core recently to discuss why green practices matter so much to his firm and how it promotes the concept with its office clients.