Property management companies in the San Fernando Valley keep growing, but the momentum with which real estate investment trusts are gobbling up business has taken a toll. Over the past few years, property management companies have been pushed out of the market by REITs, which are rapidly buying up properties and, along with it, taking control of tenant management. While traditional management firms still are able to pick up some new properties, their rate of growth is tepid when compared to that of the overall market. “We have lost some business to the real estate investment trusts, but we continue to take on new business,” said David Rock, vice president and regional manager of The Voit Companies, based in Woodland Hills. Real estate observers say that because REITs tend to limit their purchases to larger, more expensive properties, the smaller property management companies have been less affected by takeover frenzy. “Large management companies are definitely on the decline,” said Gregg Bernstein, chief financial officer for Santa Monica-based LB Property Management. “The real estate investment trust companies are not interested in smaller properties. So smaller companies have stayed somewhat stable. The real estate investment companies are convinced it is more cost effective to manage their own properties.” The Voit Companies, which ranked No. 1 on the list, manages the largest amount of office and retail square footage in the Valley, with 3.7 million square feet. The company also manages 156,000 square feet of industrial space in the Valley. Countywide, Voit manages 12.1 million square feet of office space. Voit’s most lucrative property is the Woodland Hills Warner Center, where it manages 2.3 million square feet. Voit’s tenants in the Warner Center include Health Net, Sun America Inc. and The California Endowment. Los Angeles-based Charles Dunn Real Estate Investment Services Inc. was No. 2, with 2.5 million square feet of office and retail space under management. Additionally, the real estate company ranked No. 1 in the Valley for managing 463,137 square feet of industrial space. Countywide the company manages 16.8 million square feet of office and retail space. Greenville, S.C.-based Insignia/ESG Inc. came in at No. 3 on the list, managing 2.1 million square feet of retail and office space. Countywide, Insignia manages 127.8 million square feet of retail and office space. Tooley & Co., based in Los Angeles, ranked No. 4 on the list with 1.3 million square feet of office and retail space in the Valley. Countywide, the company manages 19.8 million square feet of office and retail space. Other property management companies on the list include, Dallas-based Prentiss Properties Ltd. Inc. at No. 5; Gelb Enterprises, based in Encino, No. 6; Houston-based PM Realty Group, No. 7; Lowe Enterprises Inc., based in Los Angeles, No. 8 and Los Angeles-based LB Property Management at No. 9.