One SeaGate

Toledo, Ohio

Challenge:

We provide management services to AmTrust Realty Corp., a New York City based investor group, for the 735,000 square foot One SeaGate building in downtown Toledo.  One SeaGate is the premier office tower in the market.  The owners are very experienced property owners with a portfolio of primarily office tower properties in multiple cities ranging from New York City to Chicago.  The client has significant in-house property management capabilities.

Solution:

Our management arrangement with the owners is a hybrid of our typical management arrangement.  Our client is highly involved in the operation of the property, unlike many of our passively involved clients.  We, in effect, share management responsibilities with the client.  We provide the on-site manager who is one of the most senior and experienced property managers in the market.  Our Manager supervises the maintenance staff employed by the building.  We manage vendors, handle tenant relations, and oversee capital projects and daily building operations.  Our manager works with the client’s accounting team to review and approve invoices while the client is responsible for all property accounting and financial reporting.  We are also tasked with representing the building in the local community and representing the owner’s interests with local government, the Downtown Toledo Overlay District and community organizations that promote Toledo’s downtown area.

Results:

We provide our client professional, on the ground representation and a local face to tenants who pay premium rent and expect high-touch service and attention to detail. This results in high tenant retention. We deliver highly skilled oversight of their asset and expert execution of capital projects. We also tightly integrate the property management with our leasing team to produce the best results in the new tenant attraction program.  All of this gives our out-of-town client peace of mind and confidence that their property is operating at peak performance.

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