National Asset Services Assumes Management of Cincinnati Office Property

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Jul 28, 2015, 08:30 ET

CINCINNATI, July 28, 2015 /PRNewswire/ -- National Asset Services (NAS), one of the Country's leading commercial real estate companies, has assumed asset management responsibilities for One Northlake Place, a Class-A, 177,000-square-foot office property located in North Cincinnati, OH. NAS, which has a proven record of successfully managing properties for over 90 ownership groups, is managing the Property on behalf of 32 tenant-in-common (TIC) co-owners that purchased the property in 2006.

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Originally constructed in 1986 and redeveloped in 1999, One Northlake Place is a four-story office building located in Sycamore Township at the intersection of I-275 and I-71 off East Kemper Road. The property offers excellent highway visibility and 672 parking spaces amidst a suburban park-like setting.

Los Angeles-based, NAS, which has a national reputation for turning around underperforming and mismanaged properties for tenant-in-common co-owners, has already begun successfully implementing aggressive leasing, collections and cost reduction strategies. The Property is currently 71% occupied and its list of tenants includes Vitas Healthcare of Ohio, a provider of hospice and palliative care resources.

"This is property is in a favorable market location with good economic upside potential," commented Karen E. Kennedy, President and founder of National Asset Services. "We are committed to maximizing the potential this property possesses for ownership."

One Northlake Place property amenities include on-site local management, building signage, a large common area conference room and a fitness center with men's and women's locker rooms and showers.

About National Asset Services (NAS):

NAS is a commercial real estate asset and property management company that works with over 90 investment groups in properties of a nationwide portfolio valued at over $2 billion. The company manages a wide range of diverse commercial real estate: office, medical office, multifamily, retail, student housing, assisted living and industrial flex properties. The company manages solely owned and multi-owner properties. NAS offers a wide-range of management capabilities. They include: real estate strategy analysis; long-range business objectives; monitoring changing market conditions; investor relations; real estate and investor accounting; loan modification and workout solutions; exit and hold strategies; leasing and marketing; tenant retention plans; research studies; site selections; feasibility studies; insurance risk management; capital improvement planning and tracking; property tax appeal services; and cost segregation services. For more information about NAS property management and asset management services visit nasassets.com.

For more information about NAS, visit www.nasassets.com. For industry news and company updates, follow NAS on Twitter @nascommercial.

Contact:
JW Robison
310.795.8985
Email

SOURCE National Asset Services