SAN JOSE — Erin Toeniskoetter has been named president of Toeniskoetter Development Co., one of the key units of the high-profile family’s local real estate business.
Commercial property development is uncertain at best in a tough economy for real estate.
Tech companies and companies in other industries have curbed their respective appetites for expanding into new offices or widening their footprints in the wake of the coronavirus and the rise of hybrid work models.
Erin Toeniskoetter will use her new role as president of Toeniskoetter Development to lead a new company strategy to scout for more opportunities in property management.
Before taking the reins as president of Toeniskoetter Development, she held the post of the development firm’s executive vice president for asset and property management.
Toeniskoetter aims to parlay her expertise in property management to help lead the new push by the storied development firm.
With new office and retail property development becoming more of a rarity, Toeniskoetter Development is increasing its focus on providing real estate services for existing buildings and sites.
“Clients are looking for someone with a wide range of expertise, whether it’s leasing, marketing, tenant improvements, or lease administration,” Toeniskoetter said.
Property owners also prefer to work with property managers who can provide a personal touch to these services, in the view of Brad Krouskup, chief executive officer at Toeniskoetter Development.
“Skilled asset management is even more important in a fluid market where valuations are changing,” Krouskup said.
San Jose-based Toeniskoetter Development was founded in 1983 by Chuck Toeniskoetter, who is currently chair of the company’s board of directors.
Erin Toenisoetter, a graduate of Chico State University, didn’t begin her professional career with Toeniskoetter Development, or even in the Bay Area where the iconic firm’s home base has always been situated.
Her first job was with Spieker Properties in Southern California. She joined the Toeniskoetter firm in 2000.
Erin Toeniskoetter believes the company’s experience will greatly benefit property owners who seek to tap the skills of a savvy real estate firm.
“Having a wide offering of property management services lets us tailor a program to those specific needs,” Erin Toeniskoetter said. “We want our clients to feel like they are working with someone who understands those needs and has their best interests at heart.”