KOVA Partners, LLC, enjoys a unique niche among Southwest Florida’s fullservice commercial real estate firms. Led by CEO and managing partner, Anthony Emma, Jr., the firm operates as a fully integrated service provider comprising KOVA Commercial, KOVA Commercial of Naples, KOVA Property Management and KOVA Facilities.
In addition to selling, leasing and managing commercial properties, KOVA also develops individual real estate investment strategies to enhance value and minimize risk. Other real estaterelated services include accounting, project/construction management, development, acquisition and consulting.
In Southwest Florida, KOVA currently manages more than 70 commercial properties totaling approximately three million square feet for clients including associations, individual property owners, institutional investors, high net worth individuals and private equity partnerships. Although the firm specializes in office, retail and industrial properties, it also manages mixed-use properties and lifestyle communities.
“We focus on the fiscal aspects of ownership as much as the physical ones,” says Emma, whose experience in real estate and investment management spans 25 years. Given his background, Emma tends to view investment property through the eyes of a wealth manager — as an asset to manage for maximum value and income. To accomplish this, he works closely with KOVA’s seasoned real estate brokers, financial experts and other specialists, devising the optimum strategy for each client’s real estate investment goals.
Emma says that anyone with commercial assets can benefit from KOVA’s fully integrated approach. “Our expertise extends to all owners, whether they’re seasoned real estate investors or new to the market. We’re willing and able to customize our services to specifically and uniquely support those relationships.”
To accommodate the growing demand for reliable real estate investment, brokerage and management expertise, KOVA has expanded its staff and services, and is poised to relocate its Lee and Collier county offices. In June, KOVA will be moving and expanding into a 5,000sf space in the Galleria Plaza in north Naples and by the end of the year, the company also plans to relocate its Fort Myers office. “We want our offices to reflect who we are as a company and to provide a collaborative work environment for our staff and clients,” says Emma.
Investing in People
Emma credits KOVA’s success and growth to people, rather than properties. “We surround ourselves with the highest quality people, projects and partners in our industry, and foster relationships based upon honesty and integrity,” he says. “We are committed to investing our resources for the benefit of our clients and the enhancement of their investments.”
This concept is conveyed in KOVA’s new marketing initiative, “Investing in People,” which was designed to reflect the company culture, clients and staff. Inspired by Alyssa Emma, the company’s marketing director, the concept was introduced at a directors’ meeting and instantly embraced. Subsequently, it was launched at the 2015 International Council of Shopping Centers Florida Conference in Orlando.
KOVA’s key team members include:
- Janet Davis, Director of Brokerage & Portfolio Management. Davis has more than 20 years of experience in national tenant representation, brokerage and project management. Her duties include overseeing KOVA’s investment portfolio, corporate brokerage and leasing compliance. She is responsible for the corporate and fiscal aspects of these entities within both KOVA offices.
- Kimberly Gaglia, RPA, Director of Property Management. Gaglia has 26+ years of national experience in her field. Her responsibilities include oversight of the property management staff, and fiscal and budgetary oversight for client management. She also works with owners, tenants and boards of directors to achieve maximum cash flow while managing operating expenses to enhance long-term value.
- Mayra Vazquez, Controller. Vazquez is responsible for the accounting operations of the company, including the production of periodic financial reports, and the maintenance of accounting records and financial reporting systems.
Strategic Partnerships
To build market share, KOVA focuses on cultivating and maintaining key relationships outside of the office, as well. Although it has no ownership stake in many of the properties it manages for clients, KOVA has a vested interest in most of its other managed properties.
For example, at the Vanderbilt Financial Center, KOVA transformed a gray shell into one of the leading financial centers in north Naples. According to Emma, KOVA “significantly improved” the 42,000sf office space with custom, modern build-outs and high-end finishes, and then strategically marketed it to tenants. The asset was purchased in 2013 and today, all of the center’s Class-A, turnkey suites are occupied by tenants that include a mix of Fortune 100 companies, national financial firms and local professional businesses, such as United Health Group, HighTower Advisors, AmeriQuest Financial Services and Fisher International.
Similar success with other partnerships has had a ripple effect on KOVA’s business operations. Private equity firm Halstatt Real Estate Partners in Naples is a case in point. On behalf of investors and investment groups, Halstatt invests in commercial real estate projects throughout Florida and hires third-party operators to stabilize, improve and manage the assets from acquisition to disposition. After hiring KOVA in 2012 to work its magic on the Regions Bank building in Naples, Halstatt was so impressed that it chose KOVA to manage its 100,000sf portfolio of commercial properties in Lee and Collier counties. Since then, the relationship has evolved into a joint venture partnership.
“They’ve proven they can oversee and operate our investment properties for us,” says Halstatt principal Bobby Sullivan. “To also be an investor with us makes us even more confident that our business plan will be executed efficiently, on time and on budget.”
The partners’ portfolio includes:
- Orion Center in Fort Myers. The 30,000sf retail/office center was approximately 54% occupied when KOVA began managing it in January 2015. Although KOVA occupied a portion of the space, it moved to make way for a credit tenant, “which greatly strengthened the asset,” says Emma. Within a year, the center was fully occupied by tenants that included national franchises such as Brown & Brown (a publicly-traded insurance company) and Domino’s, as well as local businesses.
- Galleria Plaza in north Naples. Built in the mid-2000s, the 32,000sf office building was previously occupied by London Bay Homes and the Naples Executive Center. But by the time KOVA took over last year, both businesses had vacated, leaving 90% of the space unoccupied. In November, after completely updating the lobbies and common areas, KOVA began marketing the building and has leased approximately 12,000sf to date. The firm has also obtained signed letters of intent for an additional 7,050+sf, mainly from financial and investment companies.
- Colony Plaza in Bonita Springs. KOVA has modernized the exterior common areas and outdoor lobbies at the 30,000sf plaza. The project included embellishing the common areas with two new water features and adding benches, planters, and ceiling and wall details. Although marketing efforts are just now getting underway, KOVA has already leased approximately 5,000sf to a national real estate firm and is fielding inquiries from prospective office and medical tenants.
To expedite the lease-up of Colony Plaza’s remaining space, KOVA recently completed building out a model office, which Sullivan compares to a furnished spec home. “Seeing a turnkey office helps prospective tenants visualize what their space could look like,” he says. “KOVA has the relationships to do that, which is especially useful when you have a building that needs stabilization.”
State-of-the-Art Provider
As KOVA pursues new opportunities in Southwest Florida, it continues to reinvest in technology to boost operational efficiency and enhance public awareness of the KOVA brand. Currently, both of its brokerage firms utilize online listings systems including LoopNet, CoStar and Argus to promote their services and properties. KOVA is also in the process of developing a new online marketing campaign and redesigning its corporate website.
The company also recently upgraded its property management and accounting system to Yardi Voyager. This state-of-the-art software provides secure mobile and cloud-based access to pertinent data and functions. Emma says that with the new platform, KOVA can provide its staff, clients, partners and financial consultants fast access to important files. It also gives them the ability to perform a multitude of management functions without paper and from any location. “With all the fiscal responsibilities we have, it enables us to operate more efficiently, for the benefit of all aspects of our business.”
Emma adds that he expects KOVA to continue evolving and expanding, particularly as more investors look to Florida real estate for commercial opportunities. “I think being such a multi-dimensional firm, we have a lot of different capabilities and specializations that we can offer to clients. With our management expertise and the relationships we’ve developed in this market, I think we’ve become a preferred company to partner and work with.”
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