|CLIENT||Molina Healthcare, Inc.|
|LOCATION||Long Beach, California|
|SERVICES||Property and Asset Management
Lease Negotiations & Administration
Project and Construction Management
|PROPERTY SIZE||461,000 SF Class “A” Office|
|PORTFOLIO SIZE||4,250,000 SF Mixed Property Type|
Damian McKinney met Dr. C. David Molina, the founder of Molina Healthcare, in 1989 in Long Beach, CA. At the time, Molina Healthcare was occupying approximately 10,000 square feet of medical and office space. Today, McKinney manages this Fortune 500 Company’s real estate portfolio of over 4.25 million square feet and growing. McKinney Advisory Group proactively adds to Molina’s earnings through real estate brokerage as well as asset, project, and property management. McKinney Advisory Group provides comprehensive portfolio management services for Molina Healthcare ranging from site identification, lease and incentive negotiations, asset management, lease administration, CAM audits, financial reviews, strategic planning, and on-going tenant representation.
In 2004 McKinney and Molina Healthcare met to discuss their immediate need for a new corporate headquarters and a long term forecast for handling future growth. McKinney understood that Molina would need extensive space for continued growth and the right building would allow for expansion with options and competitive costs. McKinney negotiated the purchase of the building in which Molina was headquartered and within a short transition McKinney Advisory Group was also managing the daily operations of the property. With their background in tenant representation and property management Molina confidently relies on McKinney for the asset management of their Long Beach corporate headquarters as part of their total real estate portfolio.
During the negotiations for the building purchase McKinney Advisory Group worked to gain a comprehensive understanding of all deferred maintenance, current tenants leases, and property information. McKinney’s financial analysts input all building data into a comprehensive accounting system for financial reporting. Current and additional staff were put into place to manage on site day to day operations and future construction projects. With any change of ownership there are a multitude of tasks and coordination of projects the McKinney team worked tirelessly to ensure a smooth transition for both the tenants and new owner.
McKinney understands that the success of the building is continuing tenant relations, lowering the cost of energy, and tackling the deferred maintenance.
McKinney assisted Molina Healthcare’s decision to augment their real estate portfolio. McKinney’s asset management team provided a conceptual overview of the property and how it performs within the larger portfolio adding value to the larger corporate strategy and bottom line. McKinney takes into account the whole picture of the portfolio when making important improvement and investment strategy decisions. This complete picture approach is essential when managing the day to day operations of the building. McKinney implemented a new software program for tracking occupancy, monthly finances, lease administration, and operating expenses. McKinney helped reassure tenants and the City of Long Beach that Molina Healthcare is committed to this landmark building choosing to grow their headquarters in Long Beach and bringing additional jobs to the city. McKinney continued to value add to the City of Long Beach by using local vendors and committing to an additional office themselves within the building.
A property is a part of a portfolio, directly related to the corporation’s the bottom line. Asset management combined with knowledgeable on the ground property management is the excellent service and fiduciary responsibility which is a McKinney expertise.