Minneapolis, MN – July 19, 2011 - Cassidy Turley, one of the largest commercial real estate services providers in the U.S., announced today that it has been hired by Cabot Properties, a leading industrial real estate company, to manage its Hopkins properties in the Twin Cities industrial portfolio.
Cassidy Turley and Cabot closed the deal on July 14, with Mark Kolsrud, SIOR, CPM brokering the sale on behalf of the former owner, HDG Mansur. The new Cabot addition is 105,000 square feet and located at 1515 6th Street and 1600 5th Street in Hopkins, Minnesota.
The buildings are home to three tenants and are 92% occupied, with Quality Assured Label being the largest tenant. Mark Sims, Tim Olsen, and Kevin Lied of Cassidy Turley serve as the leasing team.
Cabot is already a client both locally and nationally with Cassidy Turley, and both companies are looking forward to Cabot’s increased prominence as they expand their portfolio in the Minneapolis market.
“We appreciate the opportunity to work with Cabot on this recent acquisition, adding to our local responsibilities for this key client,” said Dean Freeman, city leader for property management.
The Minneapolis/St. Paul office of Cassidy Turley has now added 2.8 million square feet of managed space since the beginning of this year.
Cassidy Turley serves a range of investors and its 8.5 million square foot property management portfolio includes industrial, office, and retail properties. Within the local portfolio is more than 5 million square feet of industrial space which serves over 100 users in the metro region.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with 3,200 professionals in 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $17 billion in 2010, manages 430 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.
About Cabot Properties
Cabot Properties is a private equity real estate investment firm. The firm is a leading investor, developer and operator of industrial properties throughout the United States. The firm was initially formed in 1986 and since that time the senior principals of the firm have been responsible for over $4.5 billion in property investments, 50 million square feet of leasing, and have worked with over 1,500 tenants.
Jennifer Umberger, MBA, PCM