About Us
Mark Properties, Inc. is a real estate management and investment company founded by Andrew Widmark in 1987 as a North Carolina corporation. From our offices in Durham, NC and Boonton, NJ we are engaged in real estate investment, management, consulting, and brokerage. While generally focusing on retail properties, MPI has experience and interest in all types of income-producing real estate.
Real Estate Investment
Mark Properties and/or our principals serve as general partner to partnerships with real estate holdings in ten states enclosing over two-million square feet of retail space. Some minor holdings by our partnerships are also in office and residential property primarily located in the Research Triangle area of North Carolina. The geographic concentration of the company is east of the Mississippi River.
We sponsor real estate investment vehicles for purchasing properties and portfolios of properties. Most significantly, Mark Properties has sponsored four real estate equity funds known as The Triangle V, Limited Partnerships. The first Triangle Fund was initiated in 1990. The Triangle Funds' have been primarily engaged in the acquisition of strip shopping centers that offer opportunity for management to increase their revenue and over time the value of the particular asset. The Triangle Funds have significantly outperformed common stocks and REITs over the last 19 years. Even after significant sales in 2006, the Funds continue to hold approximately $65 million in real estate.
Property Management
The properties which we own or control as general partner are generally managed by Mark Properties, but others are managed by our business partners. We also manage properties for third-party owners where we can leverage our depth in property management, leasing, and accounting as well as our local knowledge and significant retail real estate experience.
Company Background
Prior to forming Mark Properties, Andrew Widmark served as president and CEO of Galesi Realty Corp. of Wayne, NJ which was, at the time, one of the 25 largest shopping center investment firms in the United States. In anticipation of the massive changes in federal tax law in 1986, Mr. Widmark sold fifteen shopping centers in his capacity as general partner of those Galesi Realty projects and oversaw and directed the resulting split-up of the overall assets of Galesi Realty Corp.
Mr. Widmark relocated to North Carolina in 1987 where he started a new company then known as Mark Realty Corp. Initially the company purchased and developed a number of historic properties in downtown Durham converting them into mixed office, retail, and residential use.
The Management Team
Andrew Widmark, President & CEO
Katherine Markowitz, Executive Vice President
Kerrine Cumming
Troy Gordon, Leasing Representative
Sara Loeblein
Matthew Hobbs