Tenants come first
PBM Realty Holdings Inc. is an Ontario company that covers every single aspect of realty, assets, and property management in Barrie. Since forming over 40 years ago, they have acquired over 1.5 million square feet of industrial and commercial real estate, and they have developed a complete range of sales, leading, management and advisory services.
No matter their client’s property needs, PBM has the capacity and ability to provide a “fully-integrated, experience-driven solution,” according to Peter Moore, founder and president of the company.
Peter first came to Barrie in 1974, when he was working in the packaging business, and the Toronto-based company he was working for had him move to the city. A year later, that company wanted to bring him back to Toronto, but Peter liked Barrie so much that he opted instead to resign and start his own business.
That business – Moore Packaging Corporation – started with Peter building corrugated boxes from his own garage and selling them to local businesses. In the years that followed, the company outgrew their premises five separate times. Today, they have a full warehouse and office facility in Barrie and they employ over 220 people.
Peter’s experience moving buildings with Moore Packaging was what exposed him to the industrial real estate industry. He started by buying buildings and leasing them to the box company, but eventually he started buying buildings and leasing them to others. During the 1990s recession, especially, a lot of empty buildings became available and PBM Realty’s holdings grew quickly.
These days, PBM Realty specializes in commercial and industrial properties in Barrie and the surrounding area. They employ a team of highly skilled professionals, and their key competencies include legal services, accounting assistance, ROI maximization assistance, and the screening of potential tenants.
They also provide an extensive list of building maintenance services. In fact, Peter believes that extensive list is a big part of what sets PBM apart.
“If a tenant has a problem – if there’s no power, if there’s no water, if they’ve got a pipe leaking, whatever it is – they need it fixed quickly,” Peter says. “If they’re relying on an external contractor to come take a look at the issue, it can take a long time. That’s time they are potentially shut down or not operating.”
“That’s why we decided to hire our own maintenance crew,” he explains. “We can dispatch them immediately, and they get things fixed immediately. That’s part of our service. We believe we’re only property management company in Barrie that does that.”
Peter further explains that the tradespeople providing those professional services are all highly experienced and dependable. PBM Realty takes pride in “being the best in the business,” so they only work with people they can trust to deliver a high standard of quality and customer service.
Those employees include: certified and ticketed HVAC-TSSA registered technicians; roofing experts for emergency response and patch roofing; a master electrician for electrical needs; welders to cover all non-structural welding requirements; construction teams for framing, dry walling, and finishing; and experienced technicians for millwright work.
The services those professionals can provide are wide-ranged and varied. They include: renovations; office build outs; leasehold improvements; project management; interior and exterior painting and spray painting; parking lot line painting; security camera installation; concrete work; asphalt repairs; airline installations; drywall repairs; demolition; clean-up; and general labour.
Over the years, PBM Realty has formed some very longstanding relationships with clients and tenants. Peter partly credits that to their depth and responsiveness of their management and maintenance services.
“Most of our tenants are long-term,” he says. “We have very little turnover. That’s at least partly because of our service. We always do what we can to make sure their business keeps running and their needs are met.”
“Our motto is ‘The tenants come first,’” he adds. “Our goal is to make our tenants happy at all times.”
Tenants appreciate that focus, Peter believes. He admits, however, that tenants also have a hard time finding other industrial spaces in Barrie, as there’s an ongoing shortage. Currently, PBM Realty is doing their part to address that issue by adding more. For example, they own a property off Highway 400, on which they intend to build a more than 15,000-square-foot building. They are seeking municipal approval for that project now, and they expect to commence construction this fall.
That’s not the only new project PBM Realty has in development. Right now, the company is getting into the development space for the first time. Years ago, they acquired a property off Lake Simcoe in downtown Barrie, and they are now in the process of delivering a multi-unit luxury condo development there.
That development – which is located at 217 Dunlop Street East – is a departure for PBM Realty and for Peter, personally. He used to say, “I’m not a developer, I’m an industrialist,” but now that’s changing.
“I guess I’m becoming a developer,” he says. “We’ve had this property for almost 20 years. It used to be a dry cleaning establishment, but we found out after we bought it that it had been polluted. We’ve spent 10 years getting it clean and getting it approved. It’s been a long journey. We’re excited that it’s coming to a conclusion.”
“It’s a great opportunity,” he adds. “It’s right on the lake – literally, you can walk 20 feet from your condo and put your feet in the water – and it’s final bit of lakefront in the city that hasn’t been developed yet. After this goes up, everything else will either be owned by the city or there will already a building there. This is the last piece. I believe buyers will be excited.”
Moving forward, PBM Realty would like to grow, but they are clear-eyed about the limitations. Right now, for example, there are no industrial buildings for rent or sale in Barrie and not a lot of room to build more. There is a sizeable area in Innisfil that has been zoned for industry, but it’s not currently serviced with water, gas or electricity.
“But that’s what we need,” Peter explains. “We need an industrial park and we need services. I think if the city were to provide that, it would sell out real fast.”
Until those services are provided, he explains, PBM Realty will keep a watchful eye on the market, and if the right opportunity presents itself, they will seize it. They will not be rushed into seizing the wrong opportunity, however. They are current
“If the right property comes along, and the price is right, we’ll look at buying it,” he says. “But we’re not looking to grow just for the sake of growing. We’re currently debt-free, and that’s a great feeling. The important thing is we take care of the clients we have now.”
For more on PBM Realty Holdings, their services, properties, and developments – and to connect with their team – visit http://pbmrealtyholdings.ca/