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11 Apr 2025
All Properties, Commercial, Digest, Perspectives Permalink

Why We Oppose Senate Bill 789

April 11, 2025

Senate Bill 789 (Menjivar; D–Van Nuys) would implement a statewide tax of $5 per square foot on commercial spaces considered “vacant.” While the bill is intended to address prolonged commercial vacancies, it poses potential challenges to property owners, tenants, local governments, and the broader real estate market.

Economic Implications

We know that vacancy in commercial real estate is often driven by market conditions—not neglect. Office, retail, and industrial sectors continue to navigate the long-term impacts of the pandemic and shifting demand. Penalizing property owners through taxation during this period of recovery would only compound existing economic pressures.

Fiscal Impact of Reduced Local Revenues

SB 789 could lead to widespread property tax reassessments under Proposition 8, thereby reducing taxable property values. The downstream effect would be significant funding shortfalls for school districts, municipalities, and essential public services that rely on local property tax revenue.

Administrative Challenges

Implementation of the bill would require state and local agencies to identify, evaluate, and monitor commercial vacancies on a large scale—an approach that has shown limited effectiveness and raised administrative concerns in cities like San Francisco and Oakland.

Urgent Call to Action

SB 789 is scheduled for hearing by the Senate Revenue and Taxation Committee on Wednesday, April 23, 2025, at 9:30 a.m. We encourage stakeholders in the commercial real estate industry to review the bill and contact their state senators to urge them to vote NO.

Join us in advocating for balanced, sustainable solutions for California’s commercial real estate sector.

Resources:

Special thank you to the California Business Properties Association for sharing this information.

We will continue monitoring this bill and advocating for policies that support a balanced and sustainable commercial real estate environment in California.

27 Mar 2025
Accounting Services, All Properties, Case Study, Commercial Permalink

How Meissner Helped a Property Owner Streamline Financial Operations and Refocus Staff

March 27, 2025

Owner manages its 12-property portfolio of office, retail, and flex assets. They turned to Meissner looking for improvement in accounting and financial reporting. Meissner works in the manager’s Yardi to deliver improved accounting, reporting, and payable/receipts processing.

Client Benefits:

  • Save Time
  • Redeploy Staff
  • Timely, accurate financial reports

Client Challenges

Self management presented difficulties with…

  • Strain on Staff
  • High Staff Turnover
  • Late Financial Reports
  • Slow Invoice Payment

Our Solutions

  1. Free up staff by taking on day-to-day accounting
  2. Create custom financial reporting to fit client’s needs
  3. Deliver accurate, clean, and on-time monthly financial reports

Source
Meissner Commercial Real Estate Services

21 Mar 2025
All Properties, Case Study, Commercial, Industrial Permalink

Strategic Management in Action: How Meissner Drove a 157% Asset Value Increase

March 21, 2025

Meissner took over management for a project that was well respected, well known, had high occupancy and market lease rates. This was not a rehabilitation project and yet we added tremendous value.

Financial Benefits:

  • Ownership’s revenue increased by 186%
  • Took valuation from $23 Million to $59 Million
  • Increased net income by over 270%
  • Decreased operating expenses by 10%

How did we do it?

  1. Enhanced Tenancy
    • Adjusted the leasing strategy to attract higher tenants of a higher value than the project previously warranted
    • Excelled in responsiveness to strong market conditions
  2. Lease Administration
    • Implemented base-year revenue collection for increased pass-through expense
    • Efficiently used cutting-edge technology to streamline processes
  3. Capital Improvements
    • New paint scheme and landscaping to create a uniform feel
    • Implemented a modern and consistent signage program
  4. Expense Refinements
    • Higher vendor performance for equivalent market pricing at competitive rates
    • Maximized the building’s electrical infrastructure to adjust to the changing needs of the tenants

Source
Meissner Commercial Real Estate Services

25 Jan 2025
Accounting Services, Case Study, Yardi Consulting Services Permalink

Data Migration Into Yardi

January 25, 2025

CLIENT BACKGROUND
This accounting team had been manually compiling financial reports from Quickbooks, in-house Yardi, and third-party Yardi platforms used by its outsourced property managers. They sought a single source for their financial data and their internal and external reporting.

Challenges:

• Time-consuming financial reporting because of manual compilation of numerous data sources
• Account Tree Proliferation made daily accounting work complicated and error-prone
• Internal reporting on A/R and A/P aging was cumbersome
• Opportunities to enhance internal controls and elevate report quality

Our Impact:

Meissner’s data and accounting teams migrated a client’s data from Quickbooks and several outsourced Yardi platforms into the client’s Yardi database, resulting in a single source for accounting and reporting for this real estate developer/manager. Now, monthly, Yardi-to-Yardi data imports support accurate, timely reporting to investors and lenders.

• Streamlined financial reporting for easier conformity with GAAP
• Built foundation for more robust and detailed reporting to investors and lenders
• Integration of property performance data with financial data
• Time savings frees staff for higher level work
• Saved time and improved accuracy of daily accounting tasks

 

We can do the same for you! Learn about how we can help you optimize your financials with our financial services

11 Jan 2025
Yardi Consulting Services Permalink
close up hand of accountant working on desk using calculator for calculate finance report in office
close up hand of accountant working on desk using calculator for calculate finance report in office

Optimizing Tenant Statements Workflows in Yardi

January 11, 2025

“Many property management companies use Yardi and at least one other software application to generate and send tenant statements. With a minimal investment of time, this can be done completely in Yardi and the process of property accountants posting the recurring charges in Yardi can be vastly improved”, says Sara Robert, System and Project Manager for Meissner Commercial Real Estate Services.

If tenant information is not complete, the tenant statement is often created using another application, manually saved somewhere, and then emailed to the tenant using the firm’s email application. But suppose the tenant contact information is complete – In that case, this entire process can be done in Yardi, from creating the charge to emailing the statement and digitally filing a record of the statement and the email correspondence. This is a significant time savings relative to the effort required to achieve it. ⌛

So, clean up those Yardi tenant records and get the email addresses entered! When setting up a new tenant, insist on completeness in the Yardi contact information so you can take advantage of the built-in automation Yardi provides.

14 Dec 2024
All Properties, Digest, Uncategorized Permalink

New Commercial Real Estate Legislation Effective 2025

December 14, 2024

Commercial Real Estate News! Key legislation impacting Commercial Real Estate passed in 2024, going into effect in 2025. Take note of Assembly Bill 98: Severe Warehouse Development Restrictions, and Senate Bill 1103: Commercial Leasing Mandates.

Assembly Bill 98 introduces strict regulations on logistics and warehouse facilities in California, imposing costly design, operational, and environmental standards. These changes could hinder the growth of the logistics industry, which is a vital part of the state’s economy.

Senate Bill 1103 introduces new leasing requirements in California and applies to Qualified Commercial Tenants, including microenterprises, small restaurants, and certain nonprofits. These requirements include new notice periods for rent increases, translation requirements for lease agreements, and more.

Read more on BOMA California‘s page here: https://cbpa.com/BOMA-Cal-2024-Legislative-Summaries

 

16 Aug 2024
Spotlight Permalink

Industrial Case Study

August 16, 2024

commercial property management

Property Name: National Distribution Center
Case Study: Industrial Property Management
Property Location: 1000 & 1022 W. Bay Marina Dr. National City, CA 91950
Property Description: Industrial Space, 340,566 Total Square Feet

 

Client Requirements

National Distribution Center consists of over 340,000 square feet, with 21,000 square feet of free-standing office space and 246,066 square feet of distribution space, and sits on a 22 acre site in National City. The Center has 5 tenants, including Harvest Meat Company, O’Neill Wetsuits, Pasha Freight Systems, and BAE Systems San Diego Ship Repair. The Center is rail-served and features dock-height distribution space, cold storage, and office space. National Distribution Center is owned by the San Diego Unified Port District.

Process

For over 20 years, Meissner has provided commercial property management, leasing oversight and construction management services to the owners of National Distribution Center.

When Meissner initially took over management in 1993, there were a multitude of issues to address, including leasing, major tenant improvements, roof replacements, ammonia refrigeration system upgrade, freon refrigeration system replacement, asbestos removal, and fire sprinkler upgrades.

Throughout the several ownership transitions, Meissner has provided the continuity and expertise to persistently execute the major property transactions necessary on time and within budget, such as exterior improvements, including building painting and tenant signage, parking lot improvements, including re-paving and re-striping, and landscape improvements, including installation of drought tolerant plant materials.

Due to strong tenant relationships, Meissner has achieved successful leasing supervision and renewals/expansions.

Result

Due to the professional real estate management of National Distribution Center, Meissner is recognized in the commercial real estate industry as the only third-party firm to manage National Distribution Center.

Source
Meissner Commercial Real Estate Services

20 Jul 2024
Uncategorized Permalink

Meissner Poised for Growth in the Association Department

July 20, 2024

We’re excited to announce the addition of Nicole Cardenas, CMCA, AMS  to our team as our new Senior Portfolio Manager for the Association Department!

Nicole brings 21 years of experience in property management, with 17+ years in onsite luxury HOA’s and mixed-use vertical developments.

Her career has been largely centered in the Southern California market, where she has successfully managed a diverse range of projects, including residential luxury high-rise, mid-rise, and bio-medical properties. Her primary focus lies in ensuring that the Board’s goals are always at the forefront, enabling confident decision-making and quality service delivery.

Her extensive expertise encompasses managing numerous accounts of contracts and services, overseeing board and client relations, implementing preventative maintenance, and project managing reconstruction projects. Nicole’s career highlights include serving as Developer Board President, Account Manager in mechanical systems and preventative maintenance, and Customer Service Manager in commercial warranty. Her skills span general management, project management, and staff management.

Nicole has a Bachelor of Science and Liberal Studies from San Diego State University and has a CAI-CMCA & AMS Designation.

As Meissner continues to grow in Association management, we are expanding into Homeowner’s Association Management. Nicole’s extensive experience is a pivotal step in our broader vision for expansion, and we are confident her professional knowledge will greatly contribute to this mission.

Learn more about our Owner Association Management Services here.

18 Jul 2024
Case Study Permalink
retail property management

Case Study – Paseo Carlsbad Retail Center

July 18, 2024
Property Name: Paseo Carlsbad Retail Center
Case Study: Retail Property Management
Property Location: 5613, 5617, 5621, 5625 Paseo Del Norte,

Carlsbad, CA 92008
Property Description: Retail Space, 45,000 Total Square Feet


Client Requirements

A private real estate investment consulting and advisory firm that services institutional clients contracted with Meissner to provide professional property management services to Paseo Carlsbad, a retail center part of a 20 acre parcel located in Carlsbad, CA and owned by a Southern California Trust. The 45,000 square foot retail development is optimally located in North San Diego County. Paseo Carlsbad boasts such tenants as, Corner Bakery Café, St. John Apparel, RoadRunner Sports, Soccerlocco, as well as P.F. Chang’s, King’s Fish House, and BJ’s Restaurant and Brewhouse, which are located on separate, out-parcel pads. During development, Meissner was retained by the property owner to provide professional property management services, including tenant move-in coordination, consulting on operations and advising on operating expense forecasts in order to efficiently bring the project to stabilized occupancy upon completion.

Process

Meissner worked with the property owner and the Center’s developer from construction to completion and was instrumental in accelerating the speed with which new tenants occupied space through a highly-detailed operational plan, and in reducing operating expenses through strong vendor relationships and appropriate service contracts. Additionally, Meissner provided property recommendations during construction to ensure that future replacements would be minimal, including such items as proper landscape and exterior furnishings, location of signage and grease interceptors, and proper sizing of trash enclosures.

Testimonial
“I have worked with Meissner for over 10 years on numerous projects and lease transactions. Their real estate management skills demonstrate exceptional expertise and deal making ability.” – Bill Shrader, Senior Director, Cushman & Wakefield

Result

Meissner’s pro-active management style and knowledge of operational requirements assisted both Ownership and Developer of Paseo Carlsbad to anticipate future outcomes and tenant issues in order to deliver a stabilized project on time.

Source:
Meissner Commercial Real Estate Services