Scott M. Pritchett, CPM®, RPA® and President of Commercial Operations with Woodmont Real Estate Services announced that his firm has won a new account to manage an 180,000-square-foot portfolio of retail real estate properties owned by a San Francisco Peninsula family trust.
The largest asset in the portfolio is Brentwood Center, located at 171 El Camino (and other numerical addresses on the same street) in South San Francisco that is anchored by Satellite Healthcare and Goodwill. The center, originally developed in the early 1960s, also has a bowling alley, several restaurants and medical/dental offices.
The See’s Candies’ factory is across the street from Brentwood Center.
The other assets owned by ARCO Kenwood and ARCO General – the family trusts, are standalone buildings in Menlo Park (two of them), Daly City and Pinole.
“In the 20+ years I have been in senior management in the property management industry, this was the fastest we’ve ever gone from introductory meeting to contract. It literally transpired over three weeks in April and May, and shows the power of referrals,” said Scott Pritchett.
Through a long-standing associate in commercial real estate, Pritchett was introduced to the attorney that manages the family trust associated with the properties.
Woodmont took over the management assignment on June 1. Ken Herz was named the Regional Manager responsible for the account.
Woodmont recently took over management of the office portion of 55 Market Street in downtown San Jose, comprised of 230,000 square feet in 15 stories. The iconic property is often called The Gold Building.
Based in Belmont, CA, Woodmont manages more than 6 million square feet of commercial properties and over 13,000 apartment homes. The firm employs approximately 400 people and has regional offices in Sacramento and Santa Rosa. Woodmont Real Estate Services is one of the largest privately held third-party property manager in Northern California, and operates only in Northern California.