C&W, McCuen Form Property Management Partnership in Sacramento Area
- Oct 01, 2013
Cushman & Wakefield’s property management presence in the Sacramento region just got a lot stronger. The world’s largest commercial real estate services provider has formed a strategic partnership with McCuen Properties, a leading real estate services firm in the area, to supply a comprehensive menu of property management offerings.
C&W has offered property management services in Sacramento since 2007 and McCuen Properties has been on the ground there since 1980, cultivating a local expertise that spans the Central Valley region. The new union didn’t just materialize out of nowhere; there’s a history.
“We’ve enjoyed a very successful and long-standing relationship with McCuen Properties and their key personnel for over 15 years,” Ron Thomas, executive director and managing broker with C&W in Sacramento, told Commercial Property Executive. “This partnership is consistent with our ongoing initiative to expand our Investor Services property and project management platform locally, and McCuen Properties’ talent and core values make this a perfect cultural and business fit.”
Together, C&W and McCuen will fulfill clients’ wide-ranging needs, including assistance in lease administration, tenant services, vendor management, building operations, capital improvement plans, budgeting, accounting, project management and reporting. It’s a long list of services designed to allow individual and institutional property owners to realize maximum returns on their investments through value-added pursuits and management know-how provided by a team with both a global platform and a specific knowledge of the greater Sacramento area.
And now is the time. In a second quarter report, C&W points to numbers from Moody’s Analytics, noting an anticipated growth in employment of 1.5 percent in Sacramento this year, 2.3 percent in 2014 and 3.1 percent in 2015. “As the regional and national economy slowly stabilizes, market fundamentals will continue to improve, ultimately attracting both tenants and more investment activity,” per the C&W report.
By joining forces with McCuen, C&W increases its total property management portfolio in the Sacramento area to more than 2 million square feet, and its presence in Northern California to more than 32 million square feet. The partnership will operate under the C&W brand. However, the well-known McCuen name won’t get lost, as the firm will continue to operate its highly successful development arm separately under the McCuen flag.