The property management team at NAI Cascade has more than doubled the portfolio since its inception, less than two years ago. Here you can read about what this team is doing, and what they’re seeing in the world of building owners and tenants.
The team consists of Trish Parkes, LPM, Senior Property Manager, Julia Sutter, LPM, Property Manager, and Christina Nist, Assistant Property Manager. They are busy adding properties to the portfolio and shared that there are several in the pipeline. Amid this rapid expansion, the priority will always be acquiring suitable properties and collaborating with owners whom the team believes share alignment with their objectives.
I spoke to Trish about what challenges they’re facing in the Central Oregon market:
“We are beginning to see tenants reacting to the uncertainty in the economy. They aren’t necessarily calling it quits, but they’re looking for alternative ways to downsize.” Per Trish, all mortgage tenants in NAI Cascade managed properties vacated in the Spring. While a few abandoned their lease, the majority were continuing to pay rent or market their space for sublease.
Across other industries and verticals, the team is seeing tenants exercise their options to renew with very little negotiation.
“The trades haven’t reacted yet except as a reflection of loss of labor,” says Trish. “They are working hard to keep our business, but timeframes are being extended which affects budgeting.”
When asked what other challenges she is seeing, Trish cited the ever-growing issues around homelessness.
“It’s a huge impact. We are losing landscaping because it provides shelter and becomes a collection point for refuse.” Trish continued, “All of these issues are also increasing security costs which are being absorbed by Landlord who pass it on the Tenant. Then of course the Tenants pass it on their clients in the costs of their products and services. It affects everyone.”
Trish and team pride themselves on their proactive, personalized approach which allows them to stay ahead of issues like vacancies or building security. Their focus on relationships allows them to assemble a cohesive team with owners, tenants, vendors, contractors and brokers to ensure the long-term prosperity of the asset.