Property Name: Summit Ridge Business Park

Case Study: Commercial Property Management

Property Locations: 6759, 6769, 6779 Mesa Ridge Road, San Diego, CA 92121

Property Description: Office / Industrial Center at 133,841 Total Square Feet

 

Client Requirements

Meissner Jacquét Commercial Real Estate Services provides professional commercial property management to Summit Ridge Business Park, a 133,841 square foot office / industrial center located in the Sorrento Mesa submarket. The park is comprised of 3 buildings and is currently occupied by 3 tenants. Ownership, CW Capital Asset Management, LLC – located out of state – relies on the Meissner Jacquét property management team to be their eyes and ears for the operations of the business park.

Process

Upon takeover of management in 2014, Meissner Jacquét focused on improving the appearance of the park, including resealing and restriping the parking lot, upgrading the exterior lighting, and repainting all of the entry ways. Besides providing an enhanced façade and improving the curb appeal, the lighting upgrade allowed for increased energy efficiencies. Due to a CAM surplus from effective budget management, Meissner Jacquét was able to institute these projects and at the same time reduce the CAM charges to the Tenants. In addition to the exterior improvements, Meissner Jacquét and Ownership have plans to perform interior improvements to bring the current vacant space to market.

Key commercial property management aspects that Meissner Jacquét continues to enact at Summit Ridge Business Park includes, superior accounting services and financial reporting, purchase power – which allows for negotiation of better pricing on vendor services – responsiveness to Ownership’s requirements, and excellent tenant relations. Meissner Jacquét’s investment objectives for the business park are to maintain full occupancy, operational excellence, and maximize operating income.

Results

Due to Meissner Jacquét’s experience managing commercial properties and expertise in budget management, Ownership was able to improve the property’s appearance, while reducing CAM charges to the park’s Tenants.

Sources:

Meissner Jacquét Commercial Real Estate Services