RiverRock Real Estate Group, a West Coast-based commercial real estate management and leasing firm, announced AEW Capital Management (AEW) has awarded it the management of a 3.2 million-square-foot portfolio of office and industrial space located in southern California and Arizona. In the past 12 months, RiverRock has grown its management portfolio by 9.1 million square feet. With the addition of this contract, the company now manages more than 25 million square feet of commercial space.
Beginning August 1, RiverRock will take over property management, leasing oversight and engineering of 28 properties throughout southern California and Arizona. The Arizona portion of the portfolio includes seven properties totaling 794,000 square feet of office and multi-tenant industrial.
RiverRock will add approximately 30 employees who currently manage the properties. The company will be assuming regional offices in Santa Fe Springs, Rolling Hills, Upland, Riverside, and the San Gabriel Valley, as well as Phoenix.
“We are excited about this new opportunity with AEW,” said Steve Core, president of RiverRock Real Estate Group. “We have an excellent management team in place and we hope this assignment leads to future growth in new markets.”