Shopping Center Business

DEC 2016

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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HARLEM IRVING 104 • SHOPPING CENTER BUSINESS • December 2016 that translates so well into analyzing de- velopment opportunities in an effort to maximize value. For instance, a proper- ty entitled for retail use may actually be very well-positioned for a transformative mixed-use development." The focus on communication is a phi- losophy found at every level of the compa- ny. As Murray says, "We just got the latest sales data in. They weren't on my desk 15 minutes before Michael [Marchese] came in to discuss them. That is the kind of ownership this property has, and that is what makes this property so successful. The guy at the end of the hall is involved with the operation of the property and watches it. There is a tremendous pride of ownership and he helps instill that in the people that work for him. And it is a daily occurrence, not just a quarterly review." People tend to stay with the company long term. Filler has been with the com- pany 22 years. Gerlach joined nearly nine years ago, and notes that he only got the opportunity because his predecessor retired. Murray, who has been with the compa- ny for 23 years, says part of the reason em- ployees stick around is credibility. "That is what this company projects onto the marketplace. When we say we will do something, we will do it and we will put it on paper," he says. Stanley Bouzoukis, vice president of prop- erty management, has been with the compa- ny for 25 years. "I take pride in the details," says Bouzou- kis, who admits he's driven the plow to clear parking lots a few times over the years. "I'm hands on. I'm one of the operations managers that still goes to properties to oversee the snow re- moval at night. I'm at the properties mak- ing sure things are running smoothly, and to avoid any complaints when the tenants are open for business." Bouzoukis oversees operations at the company's retail properties. "I visit the properties every week. We send our op- erations staff out for routine tasks, and hire contractors for major repairs. But we are responsible for the exterior common areas, parking, landscaping, and lighting. Retailers are responsible for their interior premises." Looking forward, Marchese says, "We think we've been successful and we plan to move ahead with the same measured approach that we have utilized for the past 60 years. We are conservative in terms of what we expose ourselves to financially. We don't have plans to develop a specific number of properties. Based on the op- portunities that present themselves to us, we pick and choose based upon those that fit our criteria, and what works well for the culture of our company." 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