An existing client referred to Peters & Associates a firm that had very successfully developed and owned commercial real estate with a primary emphasis on multi-family and office assets. As a result of a recent merger, the firm was becoming increasingly successful at uniquely redefining old paradigms of retail real estate by combining traditional shopping centers with restaurants, movie theatres and other entertainment orientations. To ensure the realization of their vision, they were considering self-managing their unique projects across North America.
Our client’s initial need was to recruit a General Manager to oversee project development, including design, leasing, and security for a large project in Southeastern US. This person needed the traditional skills and experience to manage large, high-end, destination shopping centers, as well as have a working knowledge of entertainment-oriented centers. Since our client planned to self-manage these types of assets, the General Manager was to be also charged with the creation of a management company that would be an extension of our client’s development companies.
Moreover, the company needed someone who had the vision to develop projects that would continually attract visitors to its properties, someone who both understood the unique nature of each asset’s geographic location and possessed the ability to anticipate and respond to trends in culture, with special insight into entertainment and leisure trends and activities.
Through conversations, meetings and interviews, Peters & Associates coordinated our client’s research for a wide variety of alternative uses of these sites, including convention, exhibition, and design-center facilities. We then went on to recruit a team to manage existing and develop the company’s expanding portfolio of assets. The efforts resulted in the company’s evolution to operate a variety of ventures, integrating performance stages, catering venues, luxury hotels, office buildings, and residential units into their properties.