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CenterSquare Investment Management has awarded Chicago-based M & J Wilkow an exclusive contract to manage the Firm’s burgeoning Essential Service Retail (ESR) portfolio.
The national footprint currently includes 31 unanchored, Class A institutional quality shopping centers located along well trafficked thoroughfares in top quartile submarkets primarily across 13 high growth markets. M & J Wilkow will be responsible for all accounting and management, improving efficiencies and generate economies of scale for the operation.
Rob Holuba, Managing Director of CenterSquare’s ESR Strategy remarked on the importance of the relationship to ongoing value creation amidst significant growth:
“At CenterSquare, we recognize how applying a consistent and proven process maximizes positive outcomes for tenants, customers and investors alike, particularly in periods of meaningful expansion” he said. “We have long respected M & J Wilkow for their deep understanding of our target markets, their steadfast commitment to meeting the contemporary demands of the modern tenant, and respect for efficient and effective operations. We are looking forward to our collective success as we continue to grow together.”
Tenants of CenterSquare’s ESR properties are largely national and regional service brands whose customers must visit the store to consume the service. Health and medical, beauty, food and beverage and professional services comprise the major categories of businesses. As of June 2022, the portfolio consisted of 1.1 million square feet in nine states across the country with occupancy above 95%.
Marty Sweeney of M & J Wilkow remarked on his firm’s conviction in the niche retail sector and in CenterSquare’s ability to capture the market opportunity.
“The opportunity to partner with CenterSquare to deliver an exceptional experience for essential service tenants and their customers is directly in our wheelhouse,” Sweeney said. “We are focused on rapidly scaling this portfolio while maintaining high occupancy, streamlined operations and satisfied stakeholders.”
About CenterSquare
Founded in 1987, CenterSquare Investment Management is an independent, employee-owned real asset manager focused on listed real estate, private equity real estate and private real estate debt. As a trusted fiduciary, our success is firmly rooted in aligning our interests with those of our clients, partners and employees. CenterSquare is headquartered in suburban Philadelphia, with offices in New York, Los Angeles, London and Singapore. With more than $14 billion in assets under management (July 2022), CenterSquare is proud to manage investments on behalf of some of the world’s most well-known institutional and private investors. For more information, visit www.centersquare.com or follow us on LinkedIn or Twitter.
About M & J Wilkow
M & J Wilkow is a leading commercial real estate owner and operator dedicated to creating value for its investors. The Company’s approach to real estate emerged distinctively from an owner’s perspective and has evolved over 82 years in the real estate business. M & J Wilkow’s portfolio consists of 85 properties consisting of approximately 13.9 million square feet. The aggregate market value of the portfolio is estimated to be in excess of $3 billion. For more information, visit www.wilkow.com. CenterSquare Contact: Emily Mendell, Director of Marketing and Communications emendell@centersquare.com 610.818.4674 M & J Wilkow Contact: Connie Dyer, National Director of Marketing cdyer@wilkow.com 312.279.5978