Cedar Realty Management’s portfolio of properties maintained a high level of leasing activity despite battling the effects of Covid-19 through out the year. The team at Cedar Realty Management adapted to the constraints presented by the pandemic and capped off a busy 2020 by completing over 650,000 square feet of leases in almost 250 individual leasing transactions.
Cedar Realty Management’s portfolio maintained an overall occupancy rate of 99% throughout 2020. Solita Hart – Senior Real Estate Manager and Susan Lee – Senior Real Estate Manager were jointly responsible for the amount of lease transactions. According to Craig Ersek, Principal with Cedar Realty Management, Inc., “The strength of the industrial market combined with Cedar’s steady hand in both Leasing and Managing the assets, meant that properties performed at much higher level, than many thought when the pandemic first hit. Ersek continued by saying, “While the majority of our leasing volume represents existing tenants who were committed to staying in place, the Cedar Team was still able to do a fair amount of new new leasing, all the while pushing rental rates, throughout our managed portfolio, all”. Ersek went on to say, “While there is no doubt the pandemic had adverse effects on a small percentage of our tenants, the vast majority were able to adapt” “However, our hope, as we go into 2021, is that the pandemic continues to ease and ideally things return to normal for all of our tenants.
Cedar Realty Management is a real estate services company leveraging almost 50 years experience in the management of Southern California commercial real estate. We specialize in providing comprehensive real estate and property management services to private clients who possess a long term horizon. The company’s principals and management team have honed their skills by working at some of the best known real estate companies in Southern California. We’ve taken the best practices and methodologies and are now utilizing that knowledge to the benefit of our clients and tenants. Based in Anaheim, California, Cedar Realty Management currently provides comprehensive real estate services approximately 2,000,000 square feet of commercial properties throughout Orange, Riverside and San Diego Counties.