IRVINE, CA—With the ICSC Western Division conference almost upon us, GlobeSt.com sat down to talk retail with Todd Siegel, Vice President Retail at Passco Companies LLC. Industry-wide, Passco has over 15 years of experience, and has managed or developed over three billion dollars worth of property. In retail, they're one of the largest facilitators of 1031 exchanges, but in this EXCLUSIVE interview GlobeSt.com found out more more about Passco's retail strategy, and what they're expecting from the sector in the future.
GlobeSt.com: Passco is known for its involvement in 1031 exchanges, but you still have a large footprint in the retail sector. Tell us about that.
Todd Siegel: We've been a third-party full service real estate solutions provider for retail properties across the nation for more than 15 years and are continuing to expand it. Over that time, Passco has managed and leased over 7.5 million square feet of retail shopping centers ranging from single tenant to regional malls. Our vast management experience includes expertise in asset advisory, asset management, leasing strategy and implementation, property management, complex loan administration, center positioning and repositioning, marketing and branding, acquisition and disposition strategy all leading to value enhancement.
GlobeSt.com: How are you going about that expansion?
Siegel: With Passco Retail Group, we're continuing our expansion of our third-party platform with new management and leasing assignments for regional malls and shopping centers across the country. Passco is also actively expanding its third-party management and leasing platform. We see our expertise in regional malls, neighborhood centers, and life style centers allowing our team to offer a higher level of service to all retail assets types. In short - we understand what it takes to make a property profitable and how to best manage an asset to meet an owner's needs.
GlobeSt.com: What's prompted the renewed emphasis on the leasing and management products?
Siegel: The retail investment market continues to improve throughout the country, and that's making management and leasing of these investments more of a focus for retail owners. We're actively recruiting top management staff and expanding our third-party retail platforms to offer a first in class full service real estate solution for owners of all retail property types.
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Geoffery Metz
Geoffery Metz is the content manager for ALM's GlobeSt.com, Credit Union Times and Treasury & Risk. Before joining ALM, he spent several years overseeing the newsroom at the financial wire service Business Wire, with special focus on multimedia presentation for the web.
