Drake Asset Management currently manages over 1.0 million square feet of retail space in the Denver Metropolitan area. The property management team's primary philosophy, given the goals and objectives of the owners, is to act as the general manager of the property. We do this with an ownership mentality and by personally overseeing each and every aspect of operations at the property, the property manager provides a proactive management approach. This enables the property manager to forecast the majority of operations, thereby enhancing budgeting and the administration of contracts, vendors, leases and tenants.
One of our most important objectives is to maximize the property's net operating income through increased revenues and reduced non-recoverable expenses. This is achieved through the implementation of three strategies:
1. Partnership Approach
To achieve the primary goal, value enhancement of the real estate asset, the team's main purpose is the facilitation of the owner's goals and objectives. This is achieved through the team's unique ability to act in concert with the owner and tenant, providing flexible, hands-on proactive management. Through our accounting/property management computerized systems, the owner's financial and accounting needs can be custom tailored as desired. Additionally, management personnel are able to monitor every property on a daily basis. By analyzing critical information on thousands of square feet of retail space, we are able to evaluate the financial and economic performance of each property.
Our flexibility extends from in-depth knowledge of the retail real estate product to the ability to quickly foresee and adjust to market conditions. This foresight is the basis for the team's proactive posture in managing a real estate asset. By keeping abreast of market conditions and industry standards, our basic premise is to advise and provide resolutions, not reactionary options and questions.
2. Quality Tenant Service
The sophistication of today's retail tenant is vastly different from that of a few years ago. Their objectives have moved from achievement of gross sales projections to that of a bottom-line approach. As a result, tenants are demanding more efficiencies and greater expertise in the management of centers in which they are located. Drake Asset Management provides the most cost effective, highly professional and least obstructive services available to the center. The entire management staff is trained to actively listen to the desires and demands of their existing tenants and then act to fulfill their needs and concerns. This concept places an emphasis on tenant satisfaction and provides each tenant with professional, timely service. In achieving this goal, management personnel are on call 24 hours per day, seven days per week, and 365 days per year. This service is provided as a courtesy to our tenants and vendors and is not common with other real estate companies in the Denver retail market. Our approach results in the unparalleled retention and renewal of existing tenants.
3. Sound Property Operations
Drake Asset Management provides building services and maintenance that are consistent with first-class center standards and are competitively priced. Operating budgets are formulated and strictly adhered to so as to maintain quality without jeopardizing the desired level of recoverable and non-recoverable expenses. The Management department works closely to ensure the timely move-in of tenants, thus providing the landlord with rental income at the earliest possible opportunity.
These strategies are lost with most management companies in today’s market. For Drake Asset Management, they are the backbone of our professional existence; creating a first-class shopping center environment.
43 Inverness Drive East
Englewood, CO 80112