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 Mountain Lakes, NJ, we are engaged in real estate investment, management, consulting, and brokerage. While generally focusing on retail properties, Mark Properties has experience and interest in all types of income-producing real estate.
Services We Provide
Real Estate Investment
Mark Properties and/or our principals serve as general partners to partnerships with real estate holdings in five states. 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 five real estate equity funds known as The Triangle V, Limited Partnerships. The first Triangle Fund was initiated in 1990.
The Triangle Funds' has been primarily engaged in the acquisition of strip shopping centers that offer the 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 30 years. The most recent fund, Triangle Mark Five, was established in 2011 and has purchased both multi-tenant retail assets and multifamily apartment complexes in NC, SC, and VA.
Property Management
Mark Properties, Inc. outsources its property management to New Wave Properties. Troy Gordon, the owner of New Wave Properties, has over 15 years of experience in all aspects of commercial property management. Troy previously worked directly for Mark Properties prior to creating his own property management firm.
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.
