Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SANTA ANA, CA-Grubb & Ellis has landed the property management assignment for a 4.8-million-square-foot retail portfolio owned by Red Mountain Retail, reflecting both a Grubb & Ellis strategy aimed at boosting its share of the property management business and the increased emphasis that owners are placing on property management in these changing economic times. Santa Ana-based Red Mountain’s portfolio includes approximately 80 properties, mainly in California and Arizona, but also in six other states.

Grubb & Ellis is targeting institutions, high-net-worth individuals and other property owners in a concerted effort to increase its market share of property and facilities management. As Hans Mumper, senior vice president and director of management services for Southern California, explained to GlobeSt.com when he was named to his management services post in the fall, many property owners these days are focusing their attention on building management in light of the economic downturn and changing market conditions. In addition to increasing its share of the property management business, the Grubb & Ellis strategy is also designed to integrate all of its service lines to be able to provide clients with a full spectrum of transaction services, corporate services, investment services, facilities and property management in all of the markets the company serves.

The Red Mountain portfolio is one of a number of contracts that Grubb & Ellis has won since it began its quest for a larger share of the property management pie. For example, it also recently landed a contract to provide property management services for 500,000 square feet of facilities operated by Poway, CA-based Sharp HealthCare.

Founded in 1999, Red Mountain owns a portfolio of big box and neighborhood retail centers as well as mixed-use assets, which are primarily located in California and Arizona. The portfolio also includes 11 properties spread across Utah, Montana, New Mexico, Tennessee, Kansas and Wisconsin.

Red Mountain formerly managed all of the property in-house, except for one center in Montana, which was managed by an affiliate of Grubb & Ellis. The Grubb & Ellis property management team for the Red Mountain Retail Group portfolio will be led by Mumper, who is based in the company’s Downtown Los Angeles office.

Besides owning and operating centers, Red Mountain is also a developer. Among the projects it has under way is the 498,880-square-foot El Portal Entertainment Center in South Gate, CA. The regional entertainment and multimedia-themed shopping center will be anchored by Target, Ross and Regency Theaters as well as other entertainment and community gathering spaces.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.