Property Name: Paseo Carlsbad Retail Center
Case Study: Retail Property Management
Property Location: 5613, 5617, 5621, 5625 Paseo Del Norte,

Carlsbad, CA 92008

Property Description: Retail Space, 45,000 Total Square Feet


Client Requirements
Strategic Property Advisers, Inc. (SPA), is a private real estate investment consulting and advisory firm that services institutional clients. SPA contracted with Meissner Jacquet to provide professional property management services to Paseo Carlsbad, a retail center part of a 20 acre parcel located in Carlsbad, CA and owned by a Southern California Trust. The 45,000 square foot retail development is optimally located in North San Diego County. Paseo Carlsbad boasts such tenants as, Corner Bakery Café, St. John Apparel, RoadRunner Sports, Soccerlocco, as well as P.F. Chang’s, King’s Fish House, and BJ’s Restaurant and Brewhouse, which are located on separate, out-parcel pads. During development, Meissner Jacquet was retained by SPA to provide professional property management services, including tenant move-in coordination, consulting on operations and advising on operating expense forecasts in order to efficiently bring the project to stabilized occupancy upon completion.

Process
Meissner Jacquet worked with SPA and the Center’s developer from construction to completion and was instrumental in accelerating the speed with which new tenants occupied space through a highly-detailed operational plan, and in reducing operating expenses through strong vendor relationships and appropriate service contracts. Additionally, Meissner Jacquet provided property recommendations during construction to ensure that future replacements would be minimal, including such items as proper landscape and exterior furnishings, location of signage and grease interceptors, and proper sizing of trash enclosures.

Testimonial
“I have worked with Meissner Jacquet for over 10 years on numerous projects and lease transactions. Their real estate management skills demonstrate exceptional expertise and deal making ability.” – Bill Shrader, Senior Director, Cushman & Wakefield

Result
Meissner Jacquet’s pro-active management style and knowledge of operational requirements assisted both Ownership and Developer of Paseo Carlsbad to anticipate future outcomes and tenant issues in order to deliver a stabilized project on time. Meissner Jacquet continues to provide professional real estate management to Paseo Carlsbad and the Center currently experiences a 95% occupancy rate.

Source:
Meissner Jacquet Commercial Real Estate Services