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7/22/15
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Value Rock Realty Partners has awarded the property management services tor 21 retail and mixed-use properties throughout California to Colliers International’s Property Management Division. The properties total approximately 700k sf.
The assignment consists of properties that range in size from 9k sf to 108k sf, including nine neighborhood shopping centers, a pair of restaurant properties, a single-use “Big Box” facility, several centers that are being renovated or are in major lease-up phases, and 10 branch banking facilities totaling 107k sf that Value Rock leases to Bank of America.
Eight of the nine retail and mixed-use centers are located in Orange County with another located in San Jose. Specifically, the properties are located in Yorba Linda, Huntington Beach, Irvine, Lake Forest, Mission Viejo, and San Juan Capistrano, all of which were managed in-house prior to the agreement with Colliers. The bank branches are concentrated in Los Angeles County.
Among the property and asset management services Colliers will provide are accounting and related financial services; lease administration; project and construction management for tenant improvements and renovations; and general physical maintenance of the properties.
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