ST. PETERSBURG, FL – (June 18, 2013) – As the end of the second quarter draws to a close, The Sembler Company’s portfolio of third-party management and leasing assignments has increased substantially this year by nearly 900,000 SF.
The new assignments include an agreement between Sembler and Community Reinvestment Partners II, LP to assume 672,259 square feet of retail, spanning Florida and Georgia. Sembler will co-manage all of these projects with Community Reinvestment Partners and will lease the majority of the centers. Sembler took over an assignment for leasing and management of a 75,000 square foot center in Windemere, Florida on behalf of a northeast based institutional owner. Additionally, Sembler has entered into an agreement with another institutional owner for leasing and management of a 140,000 square foot center in Jacksonville, Florida.
Over the last several years, Sembler has been strategically enhancing its focus on acquiring third-party management and leasing assignments. Sembler’s Vice President of Business Development, Stevens Tombrink states the company has allocated ample resources to create the infrastructure necessary to take on a considerable increase in third-party assignments, while adding its own properties to the portfolio through ground-up development and property acquisitions. “Our clients recognize the benefits we bring to the table in delivering third party services and are confident in our ability to create value for their projects,” concludes Tombrink.
The Sembler Company is celebrating over 50 years of creating retail real estate value. Sembler provides a full array of retail real estate services, including development and redevelopment, property and asset management, leasing and other related services throughout the Southeastern United States and Puerto Rico. Sembler has developed over 325 projects totaling 27 million square feet and currently leases and manages over 12.5 million square feet. For more information, please visit www.sembler.com.