JACKSON CROSS AND FAMECO ANNOUNCE THE FORMATION OF JACKSON CROSS MANAGEMENT SERVICES
King of Prussia, PA - July 24, 2009 - Jackson Cross Partners, LLC and Fameco Management Services Associates, L.P. have announced the formation of Jackson Cross Management Services. The newly formed entity will provide property management services for office and industrial property owners throughout the Pennsylvania, New Jersey and Delaware market area.
Pete Davisson of Jackson Cross Partners said, “Since we formed JCP, our clients have asked us to provide property management and facilities management services. We believe this strategic partnership now enables us to quickly and effectively provide our clients best of brand property management expertise.”
“The key connection for our clients, as we have continued to build a full service business, is the experience brought to this venture by Larry Zipf, President of Fameco Management Services who previously worked with the Jackson Cross Company directing a 16 million square feet office and industrial management portfolios prior to its sale to Insignia/ESG in 1998.”
“The beauty of the new partnership is simple,” said Pete Davisson, “While both companies are real estate firms, their skill sets complement each other perfectly in a non-competitive way. Jackson Cross focuses on office, industrial and flex space, and Fameco focuses on retail real estate.
Zipf explains that “in the past 36 months Fameco Management Services has grown rapidly, and has been named one of the top five fastest growing 3rd Party Management Companies, in the country, by “Chain Store Age” magazine in each of the past four years. We now manage 11 million square feet of space locally and throughout the United States.
“The reason we have grown so rapidly is simple. We service the daylights out of our accounts. Owners and tenants know that we are around. We are an integral part of the management, leasing and ownership team, assisting our tenants by creating a distraction-free environment, and maintaining frequent and meaningful communication with all layers in the chain of command. In addition, we have excellent property accounting resources. This hands on approach by our senior and experienced property managers combined with good financial reporting tools, provides owners with valuable information that is consistent, timely, accurate, and complete”.
“We are excited about the new partnership and believe we will bring a new and higher level of property management services to Jackson Cross Partners’ clients,” concluded Zipf.
In addition to traditional fiscal and physical property management, Jackson Cross Management Services will provide asset management, construction management, facilities management, subdivision and land development services, pre-purchase due diligence investigations, disposition analysis as well as servicing requirement requests from lenders.
The Jackson Cross team brings extensive experience in Corporate Real Estate, Brokerage, Development and Finance to the property life cycle. With offices in Philadelphia and King of Prussia, Pennsylvania; Wilmington, Delaware; and, Swedesboro, New Jersey, Jackson Cross provides market coverage throughout the Delaware Valley as well as access to markets throughout the world through its affiliation with ONCOR International. Jackson Cross Partners is a NorthMarq Capital affiliated company.
JACKSON CROSS PARTNERS ANNOUNCES THE SALE OF A 211,000 SF MANUFACTURING FACILITY IN TROY, PA
Malvern, PA - July 15, 2009 - Jackson Cross Partners, LLC today announced they have been named exclusive leasing agents for Trinity Corporate Center by First Evergreen Properties, LLC. Trinity Corporate Center, located on Swedesford Road in Malvern PA, is a four building office complex that totals 150,832 square feet of rentable area.
“We are delighted to announce this exciting leasing assignment for First Evergreen,” said John Morrissey of Jackson Cross Partners. “Trinity Corporate Center is great office product with an excellent location in the heart of Great Valley Corporate Center, along the Route 202 Corridor. This is one of the strongest sub-markets in the Greater Philadelphia area. Further, we can provide up to 100,000 square feet of contiguous Class “A” office space in the Greater Philadelphia area at an extremely competitive rental rate. Siemens Medical Corporation’s occupancy of approximately 110,000 square feet for the past five years supports the fact that this property offers large corporate tenants access to a talented and highly educated workforce supported by an outstanding transportation system and abundant parking.
“First Evergreen is committed to taking a hard look at every prospective tenant who is considering leasing office space in the Philadelphia suburbs,” said Mary Frances McGarrity of Jackson Cross. “They are determined to provide tenants with a competitive package designed specifically to respond to all of the requirements of that tenant.
“We have the flexibility to offer outstanding space from 1,800 square feet up to 100,000 square feet of contiguous office space in a corporate center that offers, abundant parking and a park-like environment.”
The Jackson Cross Partners leasing team includes John Morrissey, MaryFrances McGarrity and Michael McGann.
First Evergreen Properties, LLC is a real estate investment and advisory firm that provides equity investment and a broad range of advisory services targeted to the real estate industry. This service includes asset management, land entitlement and rezoning, project development and construction and project financing for commercial and residential real estate.
Since 1996, First Evergreen has sponsored investments in properties located in New York City, suburban Philadelphia, New Jersey, southern Connecticut, south Florida and the Caribbean markets. Twenty four properties, primarily office buildings, shopping centers, industrial facilities and hotels, totaling over 2.5 million square feet with a market value of over $350 million, were acquired. After a focused repositioning, fifteen of these properties were sold for an average internal rate of return of 25%. The existing properties in the portfolio continue to provide strong yields to investors while management activities have kept occupancies at very high levels, thus supporting increased values of these assets.
Jackson Cross Partners – ONCOR International is a full-service commercial real estate brokerage and property management organization that is headquartered in King of Prussia, PA. The firm has more than 35 brokers and related service professionals located in King of Prussia, center city Philadelphia, Swedesboro, NJ, and Wilmington, DE. Jackson Cross provides Financing and Property Management Services through active partnerships with NorthMarq Capital and Fameco Management respectively.
Through ONCOR International, the firm provides client services to over 220 markets worldwide.