CORNELIUS – Property management company Park Avenue Properties is opening satellite offices in five metro areas where it currently manages properties.
The Cornelius-based company is opening offices in Raleigh and Greensboro; Greenville and Charleston, S.C.; and Memphis, Tenn. It manages more than 2,200 properties for 1,500 clients in those communities as well as the Charlotte area and New Bern, and Myrtle Beach, S.C.
Park Avenue provides services ranging from finding homes for institutional investors to finding renters to handling all aspects of single-family property management, for both homeowners and institutional investors, said John Bradford, founder and CEO of the six-year-old company, in a phone interview. He said that institutional investors comprise about 30 percent of his clients; the other 70 percent are a combination of people who buy a couple rentals as an investment to those who rent out their homes, for example, while temporarily transferred elsewhere.
“Opening the Park Avenue Properties’ satellite offices is an important step to realizing our goal of operating in major metropolitan areas throughout the United States,” said Bradford in the company’s announcement. “The satellite offices are vital to establishing a presence in the areas we do business.”
Bradford said his company employs 41 people, about 26 of whom work in the Cornelius office. He said no new positions were added as a result of the office openings, but that employees have been added as the company has expanded.