L.A. Firm Tapped By TIC Group
- Jul 29, 2015
By Adrian Maties, Associate Editor
National Asset Services has expanded its property management portfolio with the addition of a Class A office building in North Cincinnati.
NAS has been tapped to manage One Northlake Place in Sycamore Township on behalf of its 32 tenant-in-common co-owners, which purchased the property in 2006. The 177,000-square-foot building was completed in 1986 and redeveloped in 1999. It is located at 11500 Northlake Drive, at the intersection of I-275 and I-71 off East Kemper Road. Amenities include parking spaces for 672 vehicles, on-site management, a large common area, conference room and fitness center.
According to NAS, One Northlake Place is 71 percent leased to tenants such as Vitas Healthcare of Ohio, a provider of hospice and palliative care resources. The Los Angeles-based company is implementing aggressive leasing, collections and cost reduction strategies.
“This property is in a favorable market location with good economic upside potential,” said Karen Kennedy, president and founder of NAS, in a statement. “We are committed to maximizing the potential this property possesses for ownership.”
NAS manages a nationwide portfolio valued at upward of $2 billion for more than 90 ownership groups. Properties under management include office buildings, medical office buildings, retail centers, student housing, assisted living and industrial flex facilities.
Photo credit: National Asset Services