Five Questions With: Aram Garabedian

Aram Garabedian is president of Bliss Properties Inc., a Providence-based real estate development and management company that manages the Warwick Mall, 10 Weybosset Street and Bliss Place in Providence, and Bellevue Gardens Shopping Center in Newport, among other properties.
Aram Garabedian is president of Bliss Properties Inc., a Providence-based real estate development and management company that manages the Warwick Mall, 10 Weybosset Street and Bliss Place in Providence, and Bellevue Gardens Shopping Center in Newport, among other properties.

Aram Garabedian is president of Bliss Properties Inc., a Providence-based real estate development and management company that manages the Warwick Mall, 10 Weybosset Street and Bliss Place in Providence, and Bellevue Gardens Shopping Center in Newport, among other properties. He spoke recently with the Providence Business News about managing commercial real estate.

PBN: Tell me how you got into real estate, and a little about Bliss Properties.
GARABEDIAN:
I joined my father-in-law in 1986. And I became president. Bliss Properties is a management company. We manage properties and there are different owners. Warwick Mall, we presently have three partners. We’re co-managing partners. Three individuals meet monthly and take up the business of running the Warwick Mall.

PBN: Is Warwick Mall at full occupancy?
GARABEDIAN:
We have some vacancies. The primary part of the property is leased out. We have one remaining floor of the old Jordan Marsh, the third floor of the building. The Warwick Mall is generally [at full occupancy]; most of the space is rented out. We are doing very well. Our numbers are very good.

PBN: How do you view the commercial real estate market?
GARABEDIAN:
I think it’s pretty active. You may lose some tenants, you add tenants. They may not be knocking down the doors but there are people constantly expanding. They need more space or they move to a new building. Generally speaking, we’re doing well in the office building business.

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PBN: How are the retail properties doing?
GARABEDIAN:
Over the years, Warwick Mall and Bellevue Gardens, overall retail has been good, and office has been good. One, you have stores open for thousands and thousands of customers. The other is a commercial venture, [for industries such as] banking and insurance. The most important thing is to manage them and keep them operating and keep them clean. And make sure the people who come to the building leave happy. Parking is always an issue, security is always an issue.

PBN: What is the most common request from tenants?
GARABEDIAN:
If you don’t take care of the building, the heating, the air conditioning, the cleanliness, they won’t be your tenant for long. You have to really take care of them.

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