PHOENIX- Mar West Real Estate of Tustin, CA has expanded eastward, opening a new operation – and office -- in Phoenix. The company, which develops, locates and works with commercial property owners’ associations (CPOA), as well as manages property for these associations, hired Sharon Whitney to get things rolling in Sun Valley.
Mar West president John Strockis says Phoenix is a good extension from the company’s current Northern California ops, because the Phoenix has upward of 450 commercial property owner associations. As such, “we’d like to secure 10% of those in the next three years,” Strockis tells GlobeSt.com.
Whitney became a logical choice for Mar West, given her experience. Whitney served as director of operations at Southwest Realty and Property Management and was involved with customer relations and as a warranty agent at the Pulte Group. She acknowledges she was looking for a different direction. During her career, Whitney got used to all facets of residential real estate management, from management of day-to-day operations to hands-on property management.
“I’m getting more into the commercial side of real estate,” she comments. “I believe with my background experience, we’ll do a good job of growing this market.” Though Whitney is operating solo at this time, more hiring could take place when the Phoenix operations find a permanent space after the first of the year.
Strockis comments that the niche for commercial property associations is growing. While plenty of home owners associations and the like are out there, few of those associations dip their toes into CRE waters. As such, he explains, CPOAs are a fractured business. Though residential home owner associations might, for example, understand association law and operations, such associations don’t understand commercial real estate management.
Within the Phoenix market, he goes on to explain, there are a number of common-interest developments controlled by corporations, complete with boards of directors. “Those associations will hire a manager like Mar West to manage the financial component of the property, and the property management side of the association,” Strockis says.
Along those lines, it’s Mar West’s overall goal to help heal the fractured CPOA business. Strockis notes that Mar West already represents 225 California-based business parks; and have helped form associations from those parks’ owners. “The time has come for this to come out of the closet, or from behind the veil, so to speak,” Strockis adds.
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