Braintree, Ma – The Simon Companies, a professional developer, owner and manager of commercial and multifamily real estate, has been selected by Greenspan Realty Corp. to provide its proprietary menu of asset optimization services for The Adams Building, a 35,000-square-foot mixed-use building in Milton, Mass.
Services for the retail and office property at 356-380 Granite Ave. in Milton will include property management, leasing and accounting, as well as developing and executing a long-term capital improvement strategy for the property.
Located near Interstate 93, The Adams Building’s highly trafficked tenant roster includes many popular destination businesses such as Bruegger’s Bagels, Fitness Unlimited and Kumon Learning Center, as well as several local, service-oriented businesses. The property is 96 percent leased, with a single office suite currently available.
Greenspan Realty Corporation chose The Simon Companies because of the cost-effective, personalized attention and customer service that Simon management delivers to mid-sized property owners, an often overlooked segment of the real estate market.
“We are very pleased to be involved with this asset on behalf of Greenspan Realty Corporation,” said Randall S. Goldstein, vice president and director of fiduciary properties at The Simon Companies. “Our business and staffing model allows us to manage middle-market properties more efficiently, and with more enthusiasm, than the larger property management firms. We will save Greenspan 20 percent on management and leasing fees and reduce building personnel expenses by at least 50 percent while improving service to Greenspan Realty and The Adams Building tenants.”