IndCor Awards Cassidy Turley 7 MSF Industrial Assignment
- Jul 26, 2013
IndCor Properties Inc. has turned to Cassidy Turley once again to oversee one of its mega-size portfolios. IndCor recently tapped the firm to manage a group of industrial properties totaling 6.7 million square feet in Northern California.
The competition for major third-party real estate services contracts is steep, but CT is no stranger to the winner’s circle, and its history with IndCor certainly didn’t hurt in obtaining the Northern California assignment.
“We currently serve IndCor in other markets and have a national platform that serves other large industrial portfolios,” Mike Krivonak, a managing director with CT and national account leader of the firm’s IndCor team, told Commercial Property Executive.
Large, indeed. CT’s big-ticket assignments this year include a contract with the Georgia State Properties Commission to provide a range of corporate services for the state’s 195 million-square-foot portfolio of leased and owned properties, and a deal with Westcore Properties to spearhead management of an 11.1-million-square-foot group of industrial, office and retail assets in Northern California and St. Louis.
Also working in CT’s favor was the fact that, as Krivonak saidd, “CT has prior experience working on this Northern California portfolio for the previous owner.”
The group of IndCor distribution centers and business parks in the Golden State that will now come under CT’s management consists of 19 buildings in the Silicon Valley area, San Francisco’s East Bay area and metropolitan Sacramento. The campuses, presently home to some 522 tenants, range in size from 130,000 to half-a-million square feet.
CT is hitting the ground running with a multi-faceted plan for tackling the management of the multi-million-square-foot collection of industrial properties. “[Our first steps will be to] procure the staffing, set up management offices and establish operating protocols with clients, organize and establish appropriate communication channels with all constituents,” Krivonak added.
With the new Northern California assignment, CT’s IndCor portfolio totals approximately 20 million square feet.