DALLAS-Howard Hughes Corp., headquartered here, has opened its Howard Hughes Management Services Co., with the intent of providing property management services for its retail and office tenants nationwide. The company is launching its concept in The Woodlands, the 28,000-acre, master-planned community it acquired in 2011.
"The Woodlands is where we have the largest concentration of buildings," comments Paul Layne executive vice president of master-planned communities for HHC. He tells GlobeSt.com that the plan is to expand HHMSC to Columbia, MD, where Howard Hughes Corp. owns and manages a 16,450-acre master-planned community.
The goal of HHMSC is to provide hands-on property management, lease administration, engineering services, accounting and financial reporting, tenant relations programs, risk management and construction management. Furthermore, The Woodlands-based team will provide personal services exclusively to commercial tenants through a new initiative, The Woodlands Concierge.
Layne says HHC had outsourced property management functions to third-party firms, but it was believed it would be better to bring the activities in-house. The move to property management was a logical extension and "we're better able to take care of our properties than anyone else," Layne adds.
More hires and expansion are definitely in the works, Layne goes on to say, indicating that HHC is in growth mode. On the property management side, though HHMSC is targeted to assist retail and office tenants in HHC-owned and operated buildings, Layne says the next step is offering the service as a third-party providers. "We do plan to make property management services available to others in the markets we're already in," he says. "We'll start marketing that later this year."
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