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Being recognized for its property management services was a pleasant surprise for SouthGate Development in Iowa City.
"We have done this a long time but have no marketed or advertised it," said company Vice President Teresa Morrow. "It's nice to be recognized."
The company has managed its own properties for as long as it has been in existence. But for the past 10 years or so, it also has managed property managed by others. It was a natural extenion, Ms. Morrow said, because the infrastructure and staffing was already in place.
"We're a full-service real estate company," she said, adding that management is "something that helps us to do better what we do. We can bring a full solution to somebody - leasing, investment analysis, consulting on real estate - we can bring a lot more to the table than most companies that only do management or brokerage or construction."
Among its own properties SouthGate manages are Quail Creek Plaza 1 and 2 in North Liberty, and Pepperwood Place in Iowa City. It manages about 600,000 square feet of commercial space, with about 40 percent of that owned by other companies.
She said the company continues to grow the business, and is able to do so because it treats other people's property the way it would treat its own property.
"We try to get our owners the best return on their investment in real estate," she said. "We've done it for such a long time, we have contacts and programs that are already in place and can make management of the property more efficient."
Corridor Business Journal subscribers recognized that, naming it best real estate management company for the first time.
"We were honored, And somewhat surprised," Ms. Morrow said.
By: John Kenyon
Corridor Business Journal |
