Foresite’s Property Management Division hits Major Milestone
The management assignments grew by more than 250% in the past fourteen months.
Foresite was founded in 2014 and is formed by experienced commercial real estate professionals from companies such as Marcus & Millichap, Edge, Hartman REIT, NAI and Reata.
While the leasing and investment sales divisions have quickly grown, the less visible but hard working property management team has quickly grown as well. The team recently took on an assignment for Crow Holdings, Bulverde Marketplace, which closed last week and took them over the 1,000,000 square feet under management mark. The management assignments grew by more than 250% in the past fourteen months. Nearly all of the new assignments came from referrals from existing clients moving their accounts from other firms.
“It is our experience, that is what our clients are coming here for. There is a shortage of seasoned professionals in the industry right now and we are fortunate to have it ” says Nancy Braun, Director of Property Management. Nancy has worked in property management for over 39 years. All but one staff member in the property management department has more than 15 years experience and the average among the team is 20 years.
“The operations of a center has a major impact on the value of an investment. It is a way our clients can improve the value of their properties years before considering selling it” says Chad Knibbe, CCIM who serves as the company president and leads the investment sales division.
“I feel very honored to work with such an experienced and hard working team, you cannot find this level of expertise at any other firm locally” says Bethany Babcock who launched the firm after leaving Marcus & Millichap in 2014 to provide management and leasing services for her and Chad Knibbe’s investment clients. The two have worked together since 2009. Knibbe left Marcus & Millichap in 2018 to help run Foresite as the firm grew and also to launch the investment sales division of the firm.