Engineered Facility Solutions (EFS) has merged with HUNT Real Estate Corp. to form HUNT Property Solutions LLC (HPS).
EFS, a leader in commercial, industrial, retail, and health care property management services, was formed by William (Bill) Hibbard in 2005. The company grew substantially to provide property management and building maintenance services to clients across the U.S. and Canada (including Quebecor Printing, Quad Graphics, Bristol-Myers Squibb, Stryker Medical, Hero Beech-Nut and Silgan Plastics). EFS clients in Buffalo include Calspan Business Park, Dent Tower, PostMedia, Grand Island Plaza and the Darwin Martin House. EFS is ranked No. 14 on the Buffalo Business First list of largest property management companies, and was named the M&T Bank Small Business of the Year in 2014.
Following the merger, the combined square-footage locally under HPS management will be approximately 1.8 million square-feet.
The new company will focus on acquiring new properties where HPS can bring added value to the building ownership, as well as the tenants. The combination of the individual strengths of EFS and HUNT will allow HPS to reduce building expenses, increase tenancy rates, and manage the overall valuation of the property.
"The benefits to both companies are immediate, with potential for growth in Western New York and across New York state," explained Hibbard, who will remain as president of the new entity.
HUNT brings a significant portfolio of properties owned by the Hunt family, as well as a sales force of more than 1,200 licensed salespeople, who can drive properties to the company and work to increase tenancy rates in any building under management.
The unique approach developed by EFS to property management is what enticed HUNT to join forces. Through a proprietary building condition assessment and planning system, EFS has been successful at reducing the cost to operate a property, while increasing profits to the owner. With the addition of HUNT, building owners will now benefit from in-house leasing representation and property management services.
"With the creation of HUNT Property Solutions, we have added a new layer of service that we can offer our customers and clients that we have not had before," said Charles Hunt, executive vice president and chief operating officer for HUNT Real Estate Corp., and now COO for HUNT Property Solutions. "Bill brings a wealth of knowledge through his many years of experience in property management, energy management and building maintenance services. That skillset will be the foundation HPS is built on."
Editor's note: Hunt issued this clarification: "HUNT Real Estate Corp. has formed a new entity in the property management business, joining forces with an existing firm, Engineered Facility Solutions (EFS), to form HUNT Property Solutions, LLC - a division of HUNT Real Estate Corp. It will be an ancillary business of HUNT Real Estate Corp and work in close association with our HUNT Commercial brokerage so that we can offer end-to-end service to our HUNT customers and clients. This acquisition of EFS does not in any way change or affect our residential real estate business."
