Wedgewood Enterprise Corporation senior partners Greg Geiser, David Wehrly and Darin Puhl, wanted to condense their operations, so when they had the opportunity to purchase an 86,400-square-foot building in Redondo Beach, they jumped at the opportunity.
The real estate investment company that is a “leader in the field of distressed residential real estate investment and management,” started in Geiser’s bedroom when he lived in Pasadena 30 years ago. It now has approximately 200 employees and had eight different locations in El Segundo. More than $10 million was spent to renovate the building that was owned and operated by Comerica Bank and is on the old Aviation High School site.
Now that they have one location, Geiser, who lives in Manhattan Beach with his family (Wehrly lives in Manhattan Beach as well), feels it has made communication and productivity better and helped operations run smoother.
“If they have issues they can walk over and talk about it,” Geiser said. “Problems get resolved much quicker, things don’t spiral out of control, things happen faster. I don’t have to rely on email. I can walk and talk with people and sit and meet. The attitude is nicer here.”
Wedgewood, which was in El Segundo for 18 years, operates a loan company, a property management company, an aircraft charter company, and they “effectively own” the Hawthorne Airport for the next 45 years through a ground lease agreement.
Their new location, which they celebrated with a ribbon cutting last week, features a large rooftop and carport with a solar power generating station.
For more information, visit wedgewood-inc.net.