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DEVICOR MEDICAL PRODUCTS OPENS OFFICES IN SIX CITIES WORLDWIDE

NAI Hiffman assists new medical products developer in securing office leases globally

Chicago, IL (April 14, 2011) – Cincinnati, Ohio-based Devicor Medical Products, Inc. has signed leases totaling over 40,000 square feet of office space in six cities worldwide with assistance from NAI Hiffman and five other NAI Global member firms on three continents. NAI Hiffman’s Adam Roth, CCIM, SIOR, served as the coordinating broker for their global expansion. The newly created company commenced their operations less than one year ago, identifying six cities where they required office space for their local sales force. The leases signed to date total over $6 million in transaction value.

The latest lease was signed with assistance from Hideki Tsuchiya and Akiko Takatsugi with NAI Japan in Chiyoda-ku Tokyo, where Devicor Medical leased 2,404 square feet of space at 1-8-3 Marunouchi in a building owned by Mori Trust.

The company’s headquarters, which are located in the Cincinnati area, opened for business in June of 2010. The 29,891-square-foot office is in a 150,000 square foot building at 300 E-Business Way in Sharonville, Ohio. Andrew Kahn with NAI Bergman represented Devicor in the transaction locally.

Jon Salkin, executive vice president of corporate development and strategy with Devicor Medical Products, said “NAI provided market insight with local brokers who made the execution of our multiple market requirements a focused, deliberate process.” He added, “the result was a speedy rollout of our new company within budget and on time for our people on the ground.”

Devicor’s Paris office lease commenced in January 2011. Mickael Jones of NAI France assisted in identifying the 3,154-square-foot space located at 1 rue Camille Desmoulins in Issy les Moulineaux, a suburb situated just southwest of the city’s 15th arrondissement.

Also opening in January was Devicor’s Hamburg 1,000-square-foot office, located at Suedportal 3 in Norderstaedt, Germany. Martin Hoeppler with NAI apollo assisened with the transaction locally.

 Devicor also recently completed leases in Rome, Italy and Seoul, Korea.

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