Neville Companies

Competence, Experience, Integrity

Four State Management Transition

In January of 2010, Neville took on a Stop & Shop retail portfolio in excess of 500,000 sf with only 45 days to prepare.

Problem: The complexity of any single-property transition can be difficult but this portfolio represented 11 properties across four New England states.  Neville was faced with getting familiar with tenants and leases, budgets, operational concerns, capital improvement plans, vendor contracts, accounting requirements, and dozens of smaller issues – all in a very short time and across a very broad map.

Solution:  Geoff Grab, our Director of Business Development, handles all of our management transition work.  For roughly the first three months with any new property, Geoff, along with the future Property Manager, handles all aspects of the assignment.  In this case, Geoff had to work with multiple Property Managers, due to the geographic spread, in both our Boston and Vermont offices.  Needless to say, this was a Herculean task but Geoff and our team pulled it off with grace.  While we have had transitions with more square feet or sites, never have we been spread so far.

Neville believes that your management team needs to be ready for anything.  Ask our competitors how they will handle your transition and then come see us.