Last March, the real estate business of UBS Global Asset Management purchased Downtown Pleasant Hill. Carl Pierce, an asset manager for UBS Global said at the April 1 City Council meeting that “Downtown Pleasant Hill is a great example of a high quality, well leased, stable property and that is what drew us to this investment. We intend to remain engaged with the community and the staff of the city, and we recognize its importance to the community; downtown is not just a place to shop, but a gathering place, a meeting place, a place to engage in civic life. It’s an important asset to the community.”
After receiving positive feedback and information from the downtown tenants on the current property management and a leasing team, Pierce stated that John Cumbelich & Associates and Colliers, both in Walnut Creek, will be retained to handle leasing and property management, respectively, and are critical to the success of the investment. “We want to continue to improve the property and ‘thoughtful leasing’ of the area—bringing in both local and national tenants; we think that’s a great mix,” continued Pierce.