In addition to wholly owned and joint venture properties, Metropolitan Partnership has contracted with other owners of real estate to advise and develop properties on a fee basis.
As part of its overall package of retail services, Metropolitan Partnership, Ltd. advises retail clients in matters relating to strategic planning and demographic analysis enabling them to grow and expand in major metropolitan markets world wide. Clients including Tiffany & Company and Hermès of Paris have grown and expanded into markets such as Washington, D.C. and Palm Beach with the assistance of Metropolitan.
Metropolitan assists the client to gather demographic and psychographic data, profile their customer, target specific markets, solicit lease offerings, complete financial analysis, and negotiate their leases. We have assisted retailers in the selection of their architect and contractors as well as served as their construction manager or general contractor. Further services available to the client include coordination of opening events, and the training of store personnel regarding facilities operations through the production of “The Store Manager’s Guide to Facilities Operation”.
Business Description: Realizing the specialized needs in the leasing of luxury and high-end retail, the Metropolitan Companies formed a division dedicated to marketing real estate specifically to high-end retailers. The first project, Fairfax Square, located in Tysons Corner, Virginia was successfully leased in its first full year of operation and anchored by Tiffany & Company, Hermès of Paris, Gucci, Louis Vuitton, and Fendi.
Services Provided: As part of the overall package of leasing services provided to our clients as tenants or landlords, Metropolitan can provide market analysis, demographic analysis, construction budgeting, lease negotiation, and construction coordination.
Some of the finest retailers in the world have selected The Fairfax Company, a wholly owned affiliate of Metropolitan, as their General Contractor. Clients such as Tiffany & Co., Louis Vuitton, Saks Fifth Avenue and Mark Cross demand the same level of service from a General Contractor that they are accustomed to providing to their own customers.
The Louis Vuitton store in Tysons Corner (shown above) illustrates the unique needs of the high-end retailer. In order to open for the Holiday shopping season, the store was constructed on a 24 hour a day schedule allowing completion in only three weeks. Renovation of Tiffany & Co. (Fairfax Square) was performed in all after hours work shifts to avoid conflicts with their store hours.
Saks Fifth Avenue’s first floor renovation in Chevy Chase was also completed on schedule using after hours work crews. Our construction management team, at the request of our retail clients, have traveled to New York, Philadelphia and Florida to provide construction management and supervision on a number of high profile projects.
Founded in 1990, The Fairfax Company has completed an impressive portfolio of interior construction projects. The company was established and has rapidly expanded its market share based on a simple philosophy, “exceed the expectations of the client.”
Whether providing an accurate conceptual budget for effective lease negotiations or coordinating the team members to ensure a fast-track schedule, the final results accurately represent the success of this philosophy. Corporate clients such as AT&T, Merrill Lynch (below), PaineWebber and Cable & Wireless have all become repeat clients as a result of The Fairfax Company’s ability to exceed their expectations.
The Fairfax Company’s specific expertise is tenant construction and interior renovation. A wide range of services, including General Contracting, Construction Management, Design/Build and Preconstruction Services are tailored to our client’s specific needs. Each project is approached with the goal of providing the highest quality workmanship while working within the prescribed budget and time constraints.
Metropolitan has managed more than $1 billion of new construction since 1984. We have represented the sole interests of the property owner in the construction of large commercial office buildings, office tenants, high-end retail stores, even underground tank removal projects.
As the Construction Manager, we have started with a concept, built a team of architects, engineers, consultants, general contractor, testing & inspection companies, and managed large and small scale construction projects from beginning to end.
Development of Overall Construction Program and Budget, Development of Master Schedules, Tenant’s Construction Representative, Administer Lease Requirements, Cost Estimation, Value Engineering, Selection of Project Consultants, Engineers and Specialists, Review of Design, Professional Agreements, Coordination of Architect, Engineers and Other Design Professionals, Construction Contract Document Reviews, Review and Analyze Construction Plans for Accuracy, Obtain Building Permits, Bid Packaging and Organization, Coordinate Inspections By Architect and Engineer, Quality Control Inspection, On Site Monitoring and Observation, Coordination of Utility and Service Requirements, Project Accounting, Pre-Qualification and Selection of Contractors, Coordination of Owner’s Vendors, Suppliers and Subcontractors.
Having provided asset management for over 1.8 million square feet of commercial property, Metropolitan Partnership, Ltd. is keenly aware of the crucial importance of putting the goals and objectives of the Owner into reality. Because of this, Metropolitan is committed to conscientious planning and to optimizing the returns a property is capable of generating. While the chief focus of asset management is financial return of the property (both short and long term), asset management is also responsible for the integration of all leasing and marketing efforts toward achieving the return goals desired by the Owner.
Metropolitan’s asset management team is involved in all aspects of the performance of the on-site management and leasing team. Since the financial return of the property is directly related to the efforts of this team, Metropolitan periodically reviews and, if necessary, adjusts the efforts of the on-site team to assure optimum performance. In addition, asset management is also concerned with legal and environmental concerns of owning real property. Whether the issue is Americans with Disabilities Act or CFC’s, Metropolitan will apprise the Owner of its responsibilities and ensure compliance in a cost effective manner.
With careful management and effective implementation, Metropolitan’s asset management service is able to not only preserve an Owner’s physical asset but also maximize the yield and enhance its value.
Metropolitan Management, Inc. is a full service property management firm dedicated to providing both tenants and owners with comprehensive, professional services in financial and operational management. Formed in 1987, Metropolitan Management has managed a portfolio of over 1.8 million square feet of office, retail and industrial properties. The company has successfully served the needs of such nationally known office and retail tenants as AT&T, Merrill Lynch, Ernst & Young, and Tiffany & Co.
Our reputation for successful tenant relations is based on anticipating, understanding and responding quickly to tenant requests. The beneficial result of Metropolitan Management’s comprehensive management services is not only tenant satisfaction and retention but also steady asset appreciation.
Metropolitan Management provides a full scope of property management services to fit its clients’ objectives. We can customize your needs to include Asset Management, Financial Management, Tenant Construction and Capital Improvement, Supervision, Mechanical Equipment Maintenance Administration, Security, and Facilities Management.
Under contract to Tiffany & Co., Metropolitan has produced Operations and Maintenance Manuals for five of their retail operations throughout the country. The Manuals provide a guide to lease documentation, operations, materials, HVAC, electrical, and security and computer systems.
As an adjunct to its development and construction activities, Metropolitan has provided clients such as Saks Fifth Avenue (Chevy Chase, MD, pictured below) with facilities management including management of parking facilities and grounds keeping.