Patricia Holland discovered her affinity for commercial leasing in the 1980s while working as controller for a developer who constructed commercial office buildings. She assisted with lease negotiations, as well as tenant design and build-out of office space.
She has spent the last 16 years of her career at Hobbs Brook Management, where today, she manages the Hobbs Brook Office Park in Wakefield, which has 15 buildings, and serves as point of contact for the lease management of all field offices occupied by Hobbs Brook Management’s parent company domestically, including nearly 25 leased and owned properties, which are constituted of Class A office space with a total of 4 million square feet. She says her role as both tenant and landlord representative allows her to see issues and perspectives from unique vantage points, which contributes to making her a better negotiator.
“Because I have a broader understanding of the business needs in each camp, I can draw conclusions and devise solutions that satisfy all parties involved,” she said.
This talent does not go unappreciated. Her supervisor, Don Oldmixon, first vice president for real estate, construction and leasing, said she not only holds her own, but far exceeds the expectations of her contributions.
“I’ve come to respect, value and rely upon her unique perspective and fresh solutions to some of our oldest property development problems,” he said. The Edgewater Office Park in Wakefield, a seven-building complex, is now 94 percent leased due to her acumen, he noted, and she is directly responsible for monthly tenant revenue representing nearly 1 million square feet in Wakefield alone.
Now that the economy is picking up and the market changes for the better, lease negotiations have had to change, as well.
“We are seeing a greater demand for new office leases or expansions due to tenant growth, both of which we are happy to oblige,” Holland said. “We find that tenant negotiators are very savvy and are aware of the ebb and flow of the market. In a revitalized economy, market rents are more achievable for landlords due to tenant understanding and market demand. They are prepared to shop around to get the best possible deal and we are very much aware of that.”
She said that flexibility is key to dealing successfully with the many issues that come up during the course of a working day. Interfacing with many different people and selling new ideas internally to a team that has worked together for decades, keeps the job fresh.
Holland works a full time job, but is also a full-time mom who assists with the management of her daughter’s softball team. She also donates her time supporting HBM’s philanthropic endeavors, which include donations of time, money and venue space. She credits her mother as a mentor and a source of unconditional support throughout her career.