Toeniskoetter Adds Lester Square to Property Management Portfolio
Toeniskoetter Development, Inc., expanded its third-party property management portfolio to include Lester Square, a retail and office property with a prime corner location in Los Gatos. Encompassing nearly 30,000 square feet, Lester Square’s tenants include Philz Coffee, Super Duper Burger, Firenza Pizza, and Adobe Animal Hospital, as well as Oleander Law Partners and Surgery Associates.
Third-party property management is a specialty that is a natural fit with the company’s 35-year history of commercial development in Silicon Valley.
“Many of the properties that we have developed over the years have been owned in partnership with some of the Valley’s most historic families,” says Dan Amend, Executive Vice President of Toeniskoetter Development. “As these properties transitioned through generations to other ownership, word of mouth regarding Toeniskoetter’s property management expertise has spread.”
Clients know that the company they have partnered with in developing properties brings the same level of professionalism, customer service, and commitment to quality in managing them.
Just ask Linda Lester. As a third-generation Santa Clara Valley rancher and property owner, Lester knows her way around the commercial real estate business. When it came to Lester Square, a pride-of-ownership asset she describes as “my baby,” Lester wanted a property management company that would meet her high standards. “I’m very proud of this jewel,” she says. “It’s a great location, with a beautiful design and lush landscaping.” She has a close relationship with her tenants, adding, “We’re like a big family.”
So the bar was high when Toeniskoetter took over property management duties on May 1st, and, according to Lester, the company has exceeded expectations. “They’re super hands-on – clean, professional, responsive. Everything they do is top-notch."
“Top notch” starts with maintaining all buildings in a Class A manner, from parking lots and roofs to exterior lighting and first-rate landscaping. It means paying attention to the smallest detail and refusing to tolerate any level of disrepair.
“Top notch” can also describe the level of customer service that clients can expect from Toeniskoetter. Toeniskoetter’s facilities superintendents are on site every day, assessing and addressing maintenance needs, and providing first-line communication with tenants. “Our tenants love the Toeniskoetter staff,” says Lester. Daily visits are a way of keeping a finger on the pulse of business, what Amend calls “the secret sauce” to maintaining high occupancy rates in all market cycles.
Linda Lester enjoys working with a company that shares her commitment to excellence: “Toeniskoetter is a big name in the Valley. I'm happy and honored to have them on my team – and to be a member of theirs."
“We are thrilled to have such a highly visible property as Lester Square in our property management portfolio,” says Amend. “It’s great to work with an owner like Linda. She takes such pride in her property, and we are honored that she entrusts us to take care of it for her.”
Toeniskoetter property management clients have access to the full range of services Toeniskoetter has to offer, from its maintenance and vendor network to accounting services, including income and expenses, debt refinancing, and major renovations or redevelopment -- all tailored to an individual client’s needs. Toeniskoetter’s history also gives it a unique insight into family ownership and generational issues, including valuing fractional, sub-tier interests in the family trust, enabling the firm to provide expert consulting and guidance on these issues.