Property Name: Carlsbad Research Center Owners Association
Case Study: Commercial Association Management
Property Locations: El Camino Real, Faraday Avenue, College Blvd, & Rutherford Rd, Carlsbad, CA 92008
Property Description: Commercial Owners Association at 1,000,000 Total Square Feet
Client Requirements
Meissner Commercial Real Estate Services provides professional commercial owners association management to the Carlsbad Research Center Owners Association, a mixed-use development located in Carlsbad, CA that consists of 500 acres. The association contains 109 lots of research & development, manufacturing, commercial office, and retail space. Meissner’s communication with the Board of Directors is paramount to effective association management, including establishing financial goals, budgeting operating expenses, and facilitating vendor contract services.
Process
Upon takeover of management in 2001, Meissner focused on such key management areas as, review of governing documents, executing the Board approved annual operating budget, providing prompt financial reporting as required in bylaws, providing a leadership role in conducting board meetings, and acting as a community ambassador for the association.
The initial review of governing documents included CC&R’s, Bylaws, Articles of Incorporation, historical meeting minutes, and prior annual reports. It is imperative that this information continues to be properly managed so that Meissner can effectively conduct the quarterly and annual board meetings to ensure that management and the Board of Directors create a long-term, stable environment for the 75 lot owners to conduct their business. In addition to management of governing documents, Meissner ensures that all aspects of accounting are performed to the highest standards using institutional-quality software.
Meissner takes an active role in the Association’s Architectural Review and Landscape Committees, where our involvement includes reviewing architectural requests made by lot owners, conducting quarterly violation surveys and notices, and project coordination with the landscape consultants on landscape projects totaling over $500,000. In addition to managing the internal workings of this immense Association, retaining professional vendors for cost-effective maintenance and property services is paramount as the Association’s landscape projects are large and complex – for instance, a 3-year, $240,000 turf renovation project on over 500 acres. In addition, Meissner, on behalf of the Board of Directors, oversaw two important amendments to the governing documents and was the liaison between lot owners, the Board and the Poseidon Desalination Project Team during the year-long construction project through the Association.
Result
Due to Meissner’s experience managing premier Commercial Owners Associations, and our current association management portfolio totaling over 1,200 acres, we have succeeded in continuously maintaining a high level of communication with the Board of Directors of the Carlsbad Research Association and have achieved in keeping the large and diverse Board Members organized and informed as to the operation of the Association and it’s many on-going projects.
Sources:
Meissner Commercial Real Estate Services