Colliers Expands Management Services

Peter D. Morris, Los Angeles-based senior vice president of the Colliers REMS division, says that the expansion follows research by the company that concluded that "there is a market niche for the Colliers REMS platform in the Greater Los Angeles Basin." He says the expansion of the company's services will add "an alternative to the existing property management offerings in the Southland."

According to Morris, the commercial property management industry in Southern California is populated by a few national firms but is otherwise "highly fragmented with a plethora of boutique firms." In addition, Morris says, "While most commercial real estate companies are pulling back, we expanding our services."

REMS provides property management services for all commercial asset types to both institutional and private client investors. Among its institutional clients are CalPERS, Arizona State University, Panattoni Development Co. and Walton Street Capital.

Morris points out that owners have intensified their focus on property management in the current economic downturn. "Gone are the days of buying a property, then reselling it in a few months and pocketing millions of dollars," he says.

Morris also notes an expanding trend of owners outsourcing their daily property management. "This allows them to remain flexible and scalable in the market while allowing them to focus on the more profitable asset management side of the business," he points out.

Colliers REMS is one of the largest third-party management companies in the world, managing 1.1 billion square feet across the globe for institutional and private investor clients. Its property management services comprise tenant retention, building operations and maintenance, facilities management, lease administration, property accounting and financial reporting, contract management, product marketing and leasing, project move management and construction management for all commercial asset types.