December 13, 2011
By Scott Baltic, Contributing Editor
CRE giant Equity Office Properties has tapped Cassidy Turley to manage and/or lease an approximately 3 million-square-foot, 19-building Class A office portfolio, Cassidy Turley announced Monday.
The portfolio consists of property in three cities. Equity will have management of 19 office buildings totaling 2 million square feet of space, as well as leasing for 11 of them, totaling 1.1 million square feet, in Columbus, Ohio. The company will work for the leasing of six office buildings, totaling 430,000 square feet, in Dallas. And the firm will have management responsibilities for two office buildings in suburban St. Louis Park, the 1550 and 1600 Towers, that total 491,000 square feet in metro Minneapolis. The 1550 building is also known as the MoneyGram Tower.
Cassidy Turley will start work this month.
Most of the properties were part of Equity Office Properties parent Blackstone Group’s $1.1 billion acquisition in October of an 82-building, 10 million-square-foot office portfolio owned by Duke Realty. The suburban properties are located in seven Midwestern and Southern markets.
Cassidy Turley’s Bret Bunnett, regional managing principal in Dallas, and Randy Stephens, senior vice president/principal in Columbus, were given the primary credit for securing the assignment, which reportedly involved an interview process including four major national competitors.