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Weekly UpdatesTo earn the Accredited Management Organization (AMO) designation from IREM, a company must demonstrate a high level of performance, experience and financial stability, and have a CPM[R] in an executive position. AMO firms must meet high ethical standards and other stringent requirements, proving their value to the industry. JPM talked to Rick Burnett, Executive CPM for Triple Net Properties, LLC and Triple Net Properties Realty Inc., about the recent merger between parent company NNN Realty Advisors and Grubb & Ellis Company and what the AMO accreditation means.
How did the merger between Grubb & Ellis Company and NNN Realty Advisors affect Triple Net Properties Realty Inc., an AMO certified subsidiary?
Upon completion of the merger of Grubb & Ellis Company and NNN Realty Advisors, Inc., management of a number of properties managed by Triple Net Properties Realty was transferred to Grubb & Ellis Management Services, one of the world's leading providers of commercial real estate management services and a fellow AMO firm. The combination of Grubb & Ellis and NNN Realty Advisors creates a new Grubb & Ellis with visionary leadership and the resources to better compete in the global commercial real estate industry. It also gives the company a management portfolio that exceeds 214 million square feet of property.
What are the benefits of the AMO accreditation?
The AMO membership recognizes our qualifications to provide superior real estate management and advisory service for our clients. Grubb & Ellis' philosophy is in alignment with the Institute of Real Estate Management's Accredited Management Organization criteria for membership. We are proud to demonstrate to the real estate community our qualifications and commitment to achieve ownership goals. Our firm subscribes to the integrity and ethics of IREM and the AMO designation. We also have the depth of experienced and well-qualified real estate professionals who understand our markets nationwide.
Grubb & Ellis benefits from our association with the AMO as a result of the distinction it provides us. It demonstrates our commitment to property management excellence and integrity in our day-today practices and the high standards of professionalism exhibited by our corporation.
Grubb & Ellis has a number of team members who have achieved professional designations, including the Certified Property Manager (CPM). We continue to provide ongoing internal and external education opportunities for our team members and encourage them to pursue and complete the requirements to achieve professional designations.
What new trends are happening in real estate today? How is Grubb & Ellis responding to these trends?
As markets change and client and tenant needs change, we are changing to meet those needs. For example, building energy efficiency and cost is becoming increasingly important. Our brokers are starting to see energy efficiency/green requirements in requests for proposals to lease space. We have started a portfolio-wide audit to determine where we can cost-effectively make changes to building systems or operating procedures to lower energy costs. In addition, we are pursuing Energy Star and LEED certifications to demonstrate to our tenants, investors, clients and stockholders our commitment to efficient building operations and lower costs, while staying as environmentally aware as possible.
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Company headquarters location
Grubb & Ellis and Triple Net Properties are headquartered in Santa Ana, Calif.
Number of employees
The new Grubb & Ellis employs more than 6,000 professionals in virtually every key primary, secondary and tertiary market throughout the United States as well as strategic international locations where its clients have real estate needs.
Date the company become an AMO firm
Triple Net Properties Realty Inc. became an AMO on August 1, 2003. Grubb & Ellis Company became an AMO on November 1, 1987.
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