written by
Emily Bane

Intersection is pleased to announce the reopening of the Downtown San Diego office following the COVID-19 shutdowns with new guidelines and procedures to ensure worker and customer safety. These changes, designed to ease coronavirus concerns, range from the reconfiguration of office spaces to running daily temperature and health checks, to reducing customer contact. At this time, there will be no in-house meetings with clients through the end of June, with potential for extension.

Step by step, we’re seeing our local communities open up and the economy coming back to life. While we know this crisis is not over, we are continuing to educate our teams and clients, and are hopeful that we are moving in the right direction towards this long journey.

For more information on the precautionary measures we’re taking, please email [email protected].

Below are guidelines for property showings between Intersection team members and outside clients.

Showing Guidance During Reopening

As restrictions begin to ease around San Diego County, California, and the country, Intersection provides this guidance to assist brokers, managers, and clients in preparation for business in the new normal. Intersection continues to encourage brokers and managers to use virtual showings and limit in-person activity in all other aspects of the transaction as much as possible during the pendency of this crisis, even where in-person showings are allowable by state or local order.

Please review the following guidelines prior to your scheduled showing.

Intersection Property Showing Guidelines

  • If you are sick or exhibiting symptoms of COVID-19, you are required to stay home.
  • Adhere to social distancing recommendations and maintain a minimum of six feet of space between persons at all times.
  • Avoid shaking hands.
  • The number of persons who may attend a showing is limited to four total people, including Intersection brokers/managers.
  • All persons entering a property are required to wear a face mask or covering and wash their hands or use hand sanitizer upon entering.
  • Avoid touching any surfaces in the space, such as light switches, door handles, or walls.
  • Intersection does not recommend the use of bathroom facilities at the property.
  • Do not share phones, pens, or tablets or other personal property during the showing.
  • Intersection requires all documents to be shared electronically versus the distribution of paper documents at the property.
  • Use hand sanitizer upon returning to your vehicle.

We thank you for your patience and compliance with above guidelines.

Emily Bane is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. Contact Emily at 619-819-8725 or [email protected]

written by
Emily Bane

Intersection earned the AMO® (Accredited Management Organization) accreditation from IREM (Institute of Real Estate Management). Intersection joins an exclusive group of nearly 600 real estate management companies world-wide, and an exclusive list of 17 companies in San Diego that have met the requirements to earn this distinction. 

AMOs demonstrate strong financial performance, outstanding leadership, and adhere to a Code of Professional Ethics strictly enforced by IREM to maintain integrity beyond reproach. Accreditation as an AMO requires firms to follow best practices in real estate management, demonstrating that they meet standards and functions related to operations and service. Property owners can be assured that an AMO will put their interests first.

“We have always been very focused on the value that real estate management can create for our clients and investors,” said Mark Hoekstra, Managing Director and Partner with Intersection, “The AMO accreditation affirms our commitment to providing the highest level of service in concert with our key company driver, integrity.” 

“The AMO accreditation sets the standard in property management excellence for firms of all sizes. Our AMOs lead the industry in conduct and unmatched client service,” says Chip Watts, CPM®, CCIM, IREM President-Elect, and President of Watts Realty Co., Inc., AMO®. “We congratulate Intersection on this accomplishment, and welcome them into this exclusive group of property management firms.”

For more information about the recent accreditation, arrange an interview with Mark Hoekstra, Executive CPM®, at [email protected] or 619-819-6114.

From left to right: Mark Hoekstra, Rounak Mofty, Orquid Schon, and Bryan Calhoun attend the AMO Luncheon in January 2020.

Emily Bane is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. Contact Emily at 619-819-8725 or [email protected]

written by
Emily Bane

Ideal Location For Tech Company Within Vista Industrial Park

Intersection Senior Director, Henry Zahner represented the seller in the sale of the freestanding industrial building for $1,685,760. The 8,780 square-foot property consists of office and warehouse space, most of which has undergone recent renovations.

The single-story facility was previously headquarters to ICP America, owned and operated by the seller, Puglisi Family Trust. Today, the facility located at 1070 Joshua Way, Vista, CA 92081, is the future home to Techmaster Electronics, a global leader in electronic test equipment calibration services. The buyer, Celtic Blue, LLC (aka Techmaster Electronics), was represented by Dave Steffy of Palomar Commercial.

The property’s location within the Vista Industrial Park of North County is ideal for the buyer who services clients all over Southern California, as well as nationwide. The central location between Orange County and San Diego is reputable for its diverse and strong economic region.

For more information on this deal or if you’d like to discuss Intersection representation further, please reach out to Henry Zahner at 760-889-7943 or [email protected].

Emily Bane is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. Contact Emily at 619-819-8725 or [email protected]

written by
Rocco Cortese

COVID-19: Redefining Our Why

At Intersection, we play dual roles as Property Manager and Asset Manager for the portfolio of properties we manage. Our funds own four properties and we have a very important role as stewards for our investors. However, we also have an equally important role as service provider to our third-party clients. Whether an owner or a manager, COVID-19 has challenged us in ways we could not have imagined.

Back in February, when COVID-19 was peaking in China, we realized that we needed to be prepared for the eventuality that it would find its way to the United States. So, we began the process of evaluating and creating an emergency plan should our people need to work from home. Fortunately, we became a paperless company three-years ago, and have been supplying each of our employees with laptop computers since their onboarding. With this, Intersection was already equipped to make the transition from working in office to working remote. Three weeks from that initial discussion with COVID-19 cases multiplying rapidly, we offered our entire work force voluntary work from home status. Another week later, on March 19th, California mandated shelter in place and only essential businesses could remain open. Other than a core team of people, our entire work force was working remotely. Things can happen fast, but usually not this fast!

It is now April 13th, and we are in a different world from where we were in February. I joke that each day feels like a dog year because so much changes in 24 hours. Our team is working almost seamlessly from home, and our owned and managed properties are operating efficiently. The effort we put into our planning, technology, and in the quality of the people in our organization allowed us to adapt this incredible change.

The story does not end there. In the past few weeks the real work has begun as we deal with several tenants whose businesses have been literally shut down. How can you pay the mortgage and operating expenses when your property depends on rent from businesses that have been forced to close? Even though we were getting our jobs done each day, we had to figure out ways to help our clients and investors maintain  the value of their investments.

We were equally concerned about our own business. Intersection is a small business and a crisis like this one would certainly impact us as well. As such, we closely monitored stimulus activities instituted by the Federal Government. The $2.3 trillion Coronavirus Aid, Relief and Economic Security act (CARES) includes $349 billion in forgivable loans for small businesses to support payroll, rent and cover certain utility expenses. This is the Payroll Protection Provision (PPP) of the act that is focused upon supporting small businesses. This program would be a key element of our company’s plan to retain people and address major corporate expenses over the next few months.

However, the process of applying for PPP was not simple.  I am so grateful that we have the systems and team to compile the information needed for our lender as we prepared our application.  Through our own application for PPP, we realized that less sophisticated tenants could find the application process challenging. We learned that it is also important to have a banking relationship that has the ability to do SBA loans in order to participate. Many of our tenants who have been shut down did not have these banking relationships nor the resources to get the help they needed. Our unique insight as a small business inspired the empathy to help. Furthermore, we knew our experience could make a difference.

Our team mobilized quickly and put together a COVID-19 Tenant Resource Guide which lists all resources available to our small business tenants (Disaster Relief Direct from the SBA in addition to CARES PPP and other local resources). The two-page package is both simple and useful, and our efforts have not ended there. We have dedicated a team to become experts on CARES PPP and have built a proprietary list of banking relationships that are ready to help.  Although April has been a tough month, we have actually collected more rent than expected. But with so many of our tenants closed for business, we know that May is going to be our most difficult month.  Our CARES team has already put a number of our tenants in touch with SBA lenders and hopefully many of them will get inexpensive, forgivable financing to keep their businesses alive while paying rent, and retaining valuable employees.

It is really difficult to understand what the world will look like when we start to get back to work and social gatherings are allowed again. We can’t control when that will happen, but we can control what we do each day to enhance the lives of those we serve. COVID-19 and the social distancing measures taken to defeat it will never be forgotten. At Intersection, we will remember this point in time when being a small business was a competitive advantage. Our passion for the small businesses that make up our portfolio runs deep and the impact of our values as we support our tenants will be a proud moment in our company’s history. When it is all over and we are in our new normal, our values won’t have changed and the measures we have taken will be remembered. Hopefully, the relationships we care so very much about will be even stronger.

Stay healthy.

written by
Emily Bane

7 Tips for the Consumer During the COVID-19 Pandemic

These are uncertain times. Across California, New York, Washington, Illinois and an increasing number of other states, small businesses are being forced to close their doors. Small and local businesses typically rely on month-to-month revenue to sustain business, and unlike major retailers they generally don’t have high cash reserves.

This can be devastating to small businesses, especially those that depend on in-person foot traffic for their revenue. We can be a part of the solution, so we’re highlighting here tips for the consumer to help those small and local businesses stay afloat.

1. Order Takeout or Delivery 

Eat local. Several businesses have adjusted their hours, some of which are even increasing their availability. Remember that time you said all you wanted to do was get takeout and sit on the couch watching Netflix but you live in sunny Southern California? Now’s your chance to enjoy that tasty BBQ, fancy Indian curry, artisan pizza — without all the guilt of staying inside.

Smokin’ J’s BBQ is now open 6 days a week! Order online, full menu available for takeout and delivery.

2. Buy Gift Cards

Buy now, use later. While you can’t visit every local business, you’re going to want to later. When you buy a gift card from your favorite shop, those businesses can record some revenue now, and you have something to look forward to later on.

Purchase a gift card for Ocean Retreat Nail Spa using this link or call 858-668-7278.

3. Shop Local Online

Many businesses have online stores or are transitioning to do so. Before opting for that 2-Day Prime shipping, consider shopping from a local retailer because when you buy from someone in your community, you’re helping to keep people in their jobs.

Shop the latest in women’s fashion at Girl’s Fashionably Late!

4. Shout-Out Your Favorite Local Businesses on Social Media

At the moment, people are on their phones more than usual. Now is a great time to give local businesses a shoutout on social media — like that dessert Instagram that you drool over in your spare time, or that cool plant shop you always screenshot for inspiration later. Sharing is caring.

Follow @natsweets on Instagram to see all their amazing desserts. Now offering DIY cookie kits.

5. Reschedule Instead of Cancelling Appointments

Remember that haircut you had scheduled that you just kept putting off and waited to book, and now you’re quarantined for the foreseeable future? Well, you’re still going to need that haircut later. Instead of cancelling those spa and other appointments, simply reschedule.

Schedule your future appointment at Hair’s the Place by calling 760-727-1816.

6. Participate in Your Favorite Workout Classes Online, Donation Basis

In these uncertain times, it’s important to keep healthy. Did you know that some of your go-to workout studios are streaming classes online? Some of which provide ways to donate to that instructor or studio through a pay link. Namaste. 

Follow @PowayPilatesFitness on Facebook, going live Monday, Wednesday, Friday!

7. Practice Patience

Many businesses are working overtime with reduced capacity. With this in mind, practice patience when experiencing longer than usual wait times. Remember that your favorite café is working hard to stay open and serve your local community.

All Barons Market stores are open exclusively for customers 65 and up from 9:00 to 10:00 AM daily. Regular store hours are now 10:00 AM to 8:00 PM.

Emily Bane is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. Contact Emily at 619-819-8725 or [email protected]

written by
Mark Hoekstra & Rocco Cortese

Message from Intersection Leadership on COVID-19

To our valued friends and colleagues,

In the wake of the COVID-19 pandemic, our hearts and thoughts go out to the individuals and businesses who have been infected or impacted. We are hopeful that you, your family, friends and colleagues are taking the necessary precautions.

Intersection has decided to have all employees work voluntarily remote for the remainder of March. We will not be holding any in-person meetings in the office but will continue conducting video conference calls for the foreseeable future. As a company, it is important that we take the necessary measures for our employees and clients’ safety and well-being.

In the coming days, Intersection team members will be reaching out to investors, tenants, and partners with more information on mitigating risk during this time. All divisions of the company will remain fully functional, with our investment managers, brokers, property managers, and support staff accessible during normal business hours.

We are committed to supporting our investors, clients and tenants during this unprecedented time and we thank you for your business. Over the next few weeks we will be providing regular updates to all of you as additional information becomes available. In the meantime, please exercise all the precautionary measures recommended by the CDC and stay healthy.

 

Sincerely,

Mark Hoekstra and Rocco Cortese

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