Lightman forms services firm
Memphis Business Journal - by Andy Ashby
Debra Owings, a former senior vice president of Weston Cos.' retail management division, has formed Retail Management Services Co. to manage commercial property for Michael Lightman Sr. and Michael Lightman Jr.
While with Weston, Owings managed the Lightman family's properties for about eight years and has more than 25 years of management experience overall.
When Weston stopped its third-party management services, Lightman Sr. met with Owings about forming RMS in June to manage more than 1 million square feet of commercial space, including Audubon Place, Exeter Village, Malco Plaza in Bartlett and Centennial Village.
Owings enjoyed the chance to continue working with Lightman Sr.
"He is such a hands-on owner, which makes it easy because we have the same outlook on how properties are to be managed and how tenants are to be taken care of," she says. "This makes working together a very good fit for the two of us."
The new company also allows her the opportunity to deal directly with the Lightman family.
"I don't have other owners that I take any time with and I don't have any other properties where my time is spent going back and forth," Owings says. "I'm totally dedicated to their properties and to the tenants."
Lightman Sr. says that Owings and her team have always done a good job managing his properties, but now they have more time and less clients.
"It gives them more time to communicate with tenants," he says. "It's more of an opportunity to get on a first-name basis with the tenants and to make sure the tenants' needs are met with a quick response."
So far, the switch to RMS has been a pretty smooth transition for Owings. The only real challenge has been incorporating new shopping centers with the Lightman family's previous commercial space.
"We had to make sure we didn't miss any tenant needs while we were getting the properties up to our standards," Owings says.
The Lightmans have added four properties comprising about 150,000 square feet of commercial space to their portfolio since RMS was formed.
"As we expand our portfolio, they're geared up to take on more responsibility," Lightman Sr. says.
RMS might also handle third-party management if the right situation came along.
"It would have to be a perfect fit," Owings says. "I actually get offers pretty regularly."
Retail Management Services Co.
Real estate management
President: Debra Owings, CPM
Employees: 3
Address: 5100 Poplar, Suite 2607
Phone: (901) 685-2220
aashby@bizjournals.com | 259-1732
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