MINNEAPOLIS – December 12, 2011 – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it was selected by Equity Office Properties, one of the largest commercial real estate firms in the U.S., to manage the 1550 and 1600 Towers in St. Louis Park. These properties are part of The Blackstone Group’s recent acquisition of Duke Realty’s 10 million sf suburban office portfolio.
Cassidy Turley’s Minneapolis team has been retained to manage the two-building 491,000 square foot Class A office complex, located in St. Louis Park on Utica Avenue South. The 1550 (known as the MoneyGram Tower) and 1600 Towers were built in 1987 and 2000 respectively by Duke Realty Corporation and are directly adjacent to its West End retail development.
“We are excited to have been selected by Equity Office Properties to manage this Class A project in the Twin Cities,” said Dennis Panzer, Managing Principal of the Cassidy Turley Minneapolis office. “Our team of experts in property management is working to provide a seamless transition for the portfolio. This assignment is a demonstration that our national business strategies are indeed proving valuable. This assignment constitutes repeat business and was procured through relationships in our Columbus, and Dallas markets.”
The team focused on this new assignment will be led by Dawn Grant, Senior Vice President of Operations and Principal with the firm. Paul Skram will serve as Senior Property Manager, having more than 25 years’ experience in property and facilities management. He most recently managed One Financial Plaza in downtown Minneapolis and the Woodbury Lifestyle Center in the east metro. Paul Doering, who has been with Cassidy Turley for more than 20 years, has been tapped as Lead Operating Engineer.
Cassidy Turley has been chosen to manage and lease approximately 3 million square feet (sf) of Class A office space in three markets in the Midwestern and Southern U.S. Specifically, in Columbus, Ohio, Cassidy Turley will manage 19 office buildings totaling 2 million sf of space; the firm will also lease 11 of these buildings, which total 1.1 million sf. In addition, the company will manage two office properties in Minneapolis totaling 500,000 sf and lease six office buildings totaling 430,000 sf in Dallas.
“We are excited to expand our relationship with Cassidy Turley. This is a large portfolio and we know Cassidy Turley will provide outstanding property management and leasing services,” said Chris Hendricks, Market Managing Director, Equity Office Properties. “Cassidy Turley has a strong presence in the Midwestern and Southern U.S. and their expertise in these three markets will not only benefit our business needs, but importantly, it will benefit the tenants of these premier office properties.”
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 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 $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 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.
Founded in 1909, the Minneapolis office of Cassidy Turley has 73 associates and manages more than 8.5 million square feet of office, industrial, and retail space.
Please visit www.cassidyturley.com for more information about Cassidy Turley.
Contact Jennifer Umberger, MBA, PCM for more information.