L.A. Firm Tapped By TIC Group

By Adrian Maties, Associate Editor

National Asset Services is the new property manager at One Northlake Place in Sycamore Township

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