Los Angeles, CA – June 2017, Centers Business Management (CBM) proudly rings in its 30th year in business as the firm celebrates its official 30th anniversary.
30 years ago, this month, Centers Business Management (CBM) was launched as a third-party management and leasing company. The firm was created specifically to assist strip center landlords and retail property investors with day-to-day management and leasing duties. Shopping centers and retail properties require specialized accounting, tenant relations management, and common area maintenance expertise. All of which can be incredibly time-consuming, not to mention detrimental to a property’s value if handled incorrectly. By assuming responsibility for these tasks, CBM’s mission has long been to minimize the demand on property owners’ time, while at the same time enhancing their property’s value, and maximizing its profit potential. And with thousands of satisfied clients served, CBM has clearly accomplished its mission.
CBM’s heritage? La Mancha Development, the originators of convenience shopping centers and mini-malls, began developing retail properties in 1970. “Through the 70’s and 80’s La Mancha built an average of50 convenience-oriented shopping centers annually. In 1987, with so many new shopping centers completed or in the pipeline, there was a clear need for property management, leasing and sales support,” CBM President, Rick Rivera, says of CBM’s foundation. “To meet that need, ‘The men of La Mancha’ (as Rivera lovingly refers to them), Sam Bachner and Marvin Levine, established Center Business Management (CBM) to manage, lease and sell the 1,400 developments La Mancha would ultimately build,” Rivera continues in CBM’s origin tale.
And some 30 years later, CBM persists. “Despite the ups-and-downs in the real estate market… The savings and loan crash of 1993 … The great recession of 2008… And host of smaller peaks and valleys in between …CBM has not only survived, but thrived,” Rivera says of CBM’s longevity. “And we continue to do so by focusing exclusively on Southern California retail properties. This concentration has enabled us to carved out a niche that’s grown organically over the past three decades, expanding from San Diego to Santa Barbara to San Bernardino and points beyond.”
CBM’s continued success is largely due to the firm’s exceptional staff. “CBM’s team of expert property managers and leasing agents boast an average 15-year tenure, and features some of the shopping center industry’s most savvy + seasoned professionals,” Rivera proclaims in praise of CBM’s roster of commercial real estate veteran. “And over the past 30 years, many of CBM’s clients have come to depend upon the experience + expertise of our talented staff,” Rivera adds, further underscoring the value of CBM staff not only to the firm but CBM’s clients’ continued success.
The retail landscape is undeniably changing. But, as CBM President, Rick Rivera, says: “Our philosophy is simple. You can’t grad a quick meal or get you nails down online.” The steady growth in e-commerce may have changed the type of retailers entering the market. But the demand for retail space hasn’t waned in the least. And that fact alone has CBM confident the firm will be celebrating their 60th anniversary in 2047!
For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201 | email@example.com.