Jerry Jacquet, Meissner Jacquet Investment Management Services principal, has more than 30 years of experience in commercial asset and property management, leasing oversight, acquisition/disposition, and repositioning.
Jacquet, whose firm celebrated its 20th anniversary this year, has more than 30 years of commercial property experience, including 10 years as a broker with CB Richard Ellis before becoming the sales manager of CBRE’s (NYSE: CBG) University Towne Centre office.
In 1992, Jacquet teamed up with Timothy Meissner to form Meissner Jacquet, which grew its presence to include Riverside, Orange and Los Angeles counties, as well as San Diego.
The firm immediately began attracting institutional clients, including New York Life, Transamerica Realty Services, Copley Real Estate Advisors, AEW Real Estate Advisors, and MBL Life Assurance. Since its inception, the firm has managed assets totaling more than 65 million square feet.
Meissner Jacquet manages retail centers, office buildings, industrial parks and commercial owners' associations.
Jacquet said despite a recession that left some of his competitors decimated or even out of business, his firm has managed to keep the number of employees at about 33, both pre- and post-recession.
“The only time we reduce employees is when we improve our efficiency. Then we can afford to pay a higher salary for those who remain,” Jacquet said.
Jacquet said that his firm wasn’t connected with any loss of properties during the downturn, either.
A major part of the strength of the firm, says Jacquet, is the fact the company has had no changes in principals since the company was founded.
While saying it is likely Meissner Jacquet will be adding employees in 2013 and 2014, Jacquet emphasized that these positions will only be added if it makes fiscal sense.
Jacquet said although there are still plenty of concerns, he is encouraged that many of his landlord clients are beginning to invest in their buildings again.
“Three years ago they weren’t doing that,” Jacquet said.
Jacquet said he has noticed there have been not only multiple bidders for Class A office buildings, but high-quality Class B buildings are garnering significant interest as well.
“We see 2013 as a good year for transactions,” Jacquet said. “Our job is to administer the real estate and to make sure everyone is complying with the terms of the lease.”
When asked about his firm’s competitors, Jacquet said he is both pleased to say there are fewer of them, and that those that remain are stronger for having gone through the recession.
“When the market picks back up, companies will go back to doing what they do best. In our case that’s asset and property management,” Jacquet said. “It’s also about deriving a business plan so when leases roll over you can figure out how to improve the asset while making it affordable to do so.”
Along with being a Meissner Jacquet principal, Jacquet is on a variety of boards and holds memberships in a wide range of organizations, including the Building Owners and Managers Association, San Diego Advisory Board; NAIOP Commercial Real Estate Development Association; International Council of Shopping Centers; Institute of Real Estate Management; and the University of San Diego's Burnham-Moores Center for Real Estate Commercial Real Estate Committee, San Diego Advisory Board.