In 2003, Mindful was formed as an independent spin-off from Tristar Management, Inc. by Principals Jeffrey Pechter and Stephen Block to create a real estate investment and management company that would own and operate various types of facilities. Today, Mindful, through its related partnerships, owns and manages 22 self-storage facilities, over 15,000 self storage units, 1.8 million sq. ft. of property, 45,000 sq. ft. of medical, commercial office and flex space and 710,000 sq. ft. of leasable multi-family units.
Tristar Management, started by Jack Pechter in 1959, bought, sold, and brokered single-family homes, developed multi-family properties in the Baltimore area and in 1981 saw the opportunity to develop open-air centers. In 1981 and 1983, his sons Martin and Jeffrey joined him in his development efforts. Stephen Bock joined Tristar in 1989 and became CFO responsible for the group. Between 1981 and 1992, the Pechters developed and acquired a portfolio in excess of 1.5 million sq. ft. of retail and office space in the same suburban locale as that which housed the apartment portfolio.
The Mindful real estate portfolio now includes multi-family housing, office space, flex warehouse, and self storage properties throughout Florida, North Carolina, Maryland, California and Texas Through related companies, Jeffrey and Stephen have set up regional and product mix diversification strategy to cope with the uncertainties, which always exist in any business arena. Mindful is staffed with dedicated, experienced and focused professionals, who have various backgrounds and experience. The Company will continue to take its lead from Jeffrey and Stephen using their combined 50 years of experience to guide their team on the path of diversified, controlled, and strong growth.