In good times, an inexperienced owner may be able to manage and lease a shopping center. But in today’s challenging economic environment, owners increasingly are turning to trusted pros for third-party services, as this year’s top management firms attest.
In fact, report several of this year’s top companies, the demand for their services is so great that they are in the enviable position of becoming selective about their assignments.
Not surprisingly, many of the companies are repeats from last year’s list, with Jones Lang LaSalle Retail replacing CB Richard Ellis Retail Services for the top spot, and Fameco Management Services and General Growth Properties also swapping rankings. A more regional player, Levin Management Corp., fills out the list.
As retailers report expansion cutbacks and the bottom line is more important than ever, these companies are using all of their skills—in management, leasing and development—to produce maximum results for their clients.