Chicago, IL (April 11, 2008) – TA Associates Realty has awarded the property management assignment for 18 of its recently acquired CenterPoint Properties’ portfolio buildings to Oakbrook, Illinois-based NAI Hiffman Asset Management. The collection of properties is comprised of 2,048,313 square feet of warehouse and flex office space in and around the O’Hare, Interstate-55, Northern Cook, DuPage, and Kane County markets. In assuming the management of the portfolio, NAI Hiffman will gain 26 new tenants including Regent Aerospace, Kaiser Aluminum,, Amcor Pet Packaging, Houston Harvest and Admiral Air Express. Tenant leases in the facilities range from 11,000 to 360,000 square feet, with all but two of the buildings being 100 percent occupied.
“As we competed for this business, it became clear that our success with the Yorkbrook Business Park, a multi-building portfolio TA Associates assignment, gave us an edge over the rival management companies,” said David Petersen, CEO of NAI Hiffman Asset Management. “We feel we have aligned our services perfectly with TA Associate’s goals for this particular portfolio and that we share a vision for this group of building’s enhanced pro forma results.”
The 18 properties to be managed by NAI Hiffman Asset Management are: 101 Frontier Way, Bensenville, IL 745 Dillon Drive, Wood Dale, IL 1501-1555 Pratt Avenue, Elk Grove Village, IL 1601 Pratt Avenue, Elk Grove Village, IL 951 Fargo Avenue, Elk Grove Village, IL 2500 Brickvale Drive, Elk Grove Village, IL 1140 West Thorndale Avenue, Itasca, IL 801 W Bryn Mawr Avenue, Itasca, IL 1600 Glenlake Drive, Itasca, IL 1723-1757 Marshall Drive, Des Plaines, IL 1471 E Business Center Drive, Mt. Prospect, IL 370 Carol Lane, Elmhurst, IL 11440 Addison Street, Franklin Park, IL 3501 Mt. Prospect Road, Franklin Park, IL 2301 N Rte. US 30, Plainfield, IL 200 Fullerton, Carol Stream, IL 1250 Carolina Drive, West Chicago, IL 4160 Madison, Hillside, IL