It’s hard to believe it has been just over 3 months since we officially announced our expansion into Utah, a milestone 36 years in the making. When we began operations as a third-party commercial property manager in Salt Lake City this past September, we did so with a mix of strategic intent and humble anticipation. We were confident of our market leading position in Las Vegas guided by our distinct culture and service model. Despite our proximity to the Wasatch Front, we truly didn’t know how this new market would respond to a new independent commercial real estate firm entering the fray.
As we approach the end of the year, I’m reminded of one of our core values, gratitude, which is how I’d summarize our experience so far.
A Warm Welcome
First and foremost, we owe a tremendous thank you to all our clients in Las Vegas. Thank you to the many property owners, associations, and vendors who have trusted us to manage your assets! Your partnership is the catalyst for this new chapter and gives us the confidence that our commercial property services would be welcomed in Utah. We’re especially grateful to Del Mar Partnership Inc. who gave us the opportunity to expand after years of success together in Las Vegas.
We are equally grateful to the Salt Lake City commercial real estate community. By attending events with CCIM, NAIOP, Bisnow, ULI, and Interface, we’ve run into many old connections nurtured in Las Vegas and made many more new connections. And from all the local brokers, lenders, developers and other industry colleagues we’ve met, the reception has been incredibly warm. Real estate is ultimately a relationship business, and the connections we’ve made with the local community have only deepened our appreciation for this vibrant market.
What We’ve Learned: The Case for the Independent Firm
We had a hypothesis when we first evaluated Salt Lake City. We believed that amidst the landscape of massive growth with national firms having a strong presence in the market, that we could fill a gap. We believed that property owners were seeking a commercial management partner who combines pride of ownership and decades of experience with the agility and personal touch of an independent firm. The last three months have emphatically reaffirmed that belief.
Our learning from this quarter is simple: The Salt Lake Valley is ready for us. In our conversations with owners and operators across the valley, we hear a consistent theme. They are excited to work with an independent firm that values the person more than just their assets. They value The MDL Way, our process built on responsiveness, proactiveness, and experience designed to create value for owners. As we look toward the future of MDL Group in Salt Lake City and beyond, we are more confident than ever that we are in the right place at the right time. If you have commercial property in the area and would like to learn more about The MDL Way, send us a property management request. We’d love to get to know you.
To our clients, new neighbors, and the Greater Salt Lake City community: Thank you for a warm welcome. We are just getting started.
–Aaron Silverman, Director of Strategic Growth
