North Towne Commons
821 W. Alexis Road, Toledo, Ohio 43613
The North Towne Commons property management assignment entails management of a 98,758 square foot section of the North Towne Commons neighborhood shopping center along with the developer’s tract duties under the operating and easement agreement for the larger shopping center. North Towne Commons is a 388,527 square foot shopping center with seven entities that own sections of the center. The developer’s tract duties are comprised of maintaining the service drives and ingress and egress to the center which are shared among the seven owners. So, Reichle Klein Group not only provides day-to-day operations of the 98,758 square foot section, we oversee cleaning, maintenance and snow removal for all of the center’s common roadways and then bill and collect the operating expenses from the other property owners sharing the easements. Our clients are based in Florida. Other property owners in the center include Kroger and Target.
The property is overseen by one of our senior property managers. The senior property manager is responsible for vendor bidding and contract administration, preparation of annual budgets, and preparation of monthly financial reports, tenant relationship management and the physical maintenance of the property. Primary preventive maintenance and responsive maintenance work at the property is delivered using Reichle Klein Group roving field maintenance personnel and billed on an hourly basis. Reichle Klein Group’s dedicated property management accounting staff handles rent and operating assessment collections and processes all payables. When, on occasion, a vacancy arises the client has engaged one of our retail leasing specialists to release the vacancy.
Our client is provided with the ability to own a property located a great distance from their home office confident that they have a professional representative on location on a regular basis. They have the peace of mind that comes from the knowledge that their property is being watched over and operated by an experienced team with the requisite infrastructure in place to protect their interests and enhance the value of their asset.