The agreement expands RiverRock's geographic reach into a new Southern California market, notes John Combs, founder and principal of RiverRock. The area serviced by the new joint venture will include La Quinta, Rancho Mirage, Indian Wells, Palm Desert and Palm Springs.
According to Scott Wilson, founding partner of Wilson Johnson Commercial, the firm "strategically decided to expand our property management offerings at the request of our clients." Combining the Wilson Johnson platform with RiverRock "will bring a new level of management expertise to the Coachella Valley," he says.
Strahl is a seven-year local resident of Palm Springs who has been active in the real estate community throughout that time. Before moving to Palm Springs, he lived in San Francisco, where he worked for a San Francisco-based law firm.
The joint-venture announcement follows RiverRock's August 2007 formation of a joint venture with Alamo, CA-based retail investment and development firm Alamo Group and Dudum Investments. That joint venture, known as Diablo RiverRock Inc., handles management and leasing for approximately 1.5 million sf of retail and restaurant properties located throughout Northern California, the Pacific Northwest and Nevada.
Combs comments that through the two joint ventures, RiverRock has "more quickly expanded our service brand into new markets, following both our client base and bringing a new level of service to our partner's clients." He says that the joint-venture expansions continue RiverRock's efforts to "create a premier service organization that delivers a well-trained, client-centric level of management services.
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