Press Release: Aquila and Pyramid Form Property Management Alliance
Dec 7, 2007
Aquila Commercial
Aquila and Pyramid Form Property Management Alliance
Top local property manager specialist also joins Pyramid Properties
AUSTIN - December 7, 2007 - Two local real estate firms have formed an official alliance, effectively joining their leasing and property management specializations. Meanwhile, a well-known local property manager has joined to spearhead management of the growing portfolio.
Aquila Commercial LLC and Pyramid Properties have formed an official alliance that calls for Pyramid Properties to handle property management of Aquila's portfolio of leasing assignments. Likewise, Pyramid will now turn marketing and leasing assignments over to Aquila.
Furthermore, 15-year Austin property management veteran Sheila McHargue has joined Pyramid Properties as director of property management. In her new role, McHargue will lead the management of the portfolio which now features approximately 3 million square feet of office, retail and industrial space in Central Texas.
"The opportunity to join forces with two emerging local leaders in the commercial real estate scene was one I couldn't pass up," McHargue says. "The portfolio's growth reflects the momentum Aquila quickly gained in the marketplace, and it's a special opportunity to be able to join a powerhouse alliance relatively early in its formation."
McHargue spent the past 15 years with the local office of Trammell Crow Co., which merged with CB Richard Ellis about a year ago. While at those two companies, she handled a portfolio with roughly 4 million square feet, and an array of clients such as RREEF, Heitman LLC, and Stratus Properties Inc. McHargue, a Certified Property Manager®, is also this year's president of the Institute of Real Estate Management's Austin chapter and sits on the Building Owners and Managers Association's board of directors.
Aquila launched as an Austin-based commercial real estate brokerage firm in January 2007 with six founders with a combined total of more than 80 years of direct industry experience working for major national companies like CBRE and Trammell Crow. Since that time, the company has landed more than 38 listings with a combined total of more than 4.35 million square feet.
While Aquila will now focus exclusively on marketing and leasing efforts, clients that also want property management services will have a seamless link to Pyramid.
Mike Murphy, a 25 year industry veteran, is principal with both Aquila and Pyramid.
"Everyone involved favors the idea of building a locally owned and operated company that's able to tailor services and react quickly to clients' needs," Murphy says.
Murphy says he's particularly delighted to have McHargue on board because her experience with institutional-grade properties will compliment Pyramid's 15-year-long, locally-based platform well.
Bart Matheney, principal with Aquila, notes his company has been successful in landing marketing and leasing assignments at the time of a project's inception.
"Being able to have trusted property management professionals at the table early on creates a tremendous advantage as a new development takes shape. By including that perspective, it can lead to greater efficiencies and better service for future tenants," Matheney says. "Integrating our services enables greater coordination and the best results for our shared clients."
Examples of recent listings of new projects that Aquila and Pyramid have jointly landed include: Hartland Park, Riata Vista and the redevelopment of the Village Shopping Center.
About Aquila Commercial
Harkening the powerful and noble Aquila eagle, Aquila Commercial LLC is a full-service commercial real estate firm based in Austin, Texas. Launched in January 2007, a group of six core founders have a combined total of more than 80 years of direct industry experience working for major national companies from CB Richard Ellis to the Trammell Crow Co. Recognized by their peers and publications as some of the top producers in their respective disciplines, Aquila Commercial seeks to emulate the Aquila eagle's reputation for flying higher and maintaining the sharpest vision. For more information, please visit: www.aquilacommercial.com.
About Pyramid Properties
Pyramid Properties Is a commercial real estate company that's owned and operated in Austin, Texas and an AMO (Accredited Management Organization) Member of the Institute of Real Estate Management. Since its formation in 1992, the company has offered individual investors, property owners, large and small developers, and financial institutions in and around Austin a full menu of real estate services. These services include asset advisory, asset management, property management, marketing, leasing, and property acquisition/disposition.
Pyramid Properties works closely with each and every client to clearly identify their needs and we utilize our experience in every facet of commercial real estate in order to create innovative, "outside of the box" solutions for reaching short and long term investment goals. For more information, please visit: (www.pyramid-properties.com).
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