NAI Hiffman leases 341k s.f. industrial facility

October 13, 2010

Larry Much, Steve Connolly, and Kelly Disser, with NAI Hiffman’s Industrial Services Group represented Principal Real Estate Investors in leasing its industrial facility in Bedford Park, Ill. to M. Block & Sons, a leading provider of end-to-end supply chain solutions. The 341,114-square-foot industrial facility is located at 6755 W. 65th Street and includes 2,500 square feet of office space, 30 foot clear height, 141 parking spaces with 50 trailer spaces, 36 exterior docks and 3 drive-in doors.

The 341,000 square feet represents the largest transaction in the Bedford Park submarket this year. Missner Construction is completing work to the building and finishing tenant improvements. Jeff Locascio with Newmark Knight Frank represented M. Block & Sons.

Source: REJournals.com

Posted by NAI Hiffman | Filed Under General Business, Industrial, Lease 

Dave Petersen: Property management success all about listening

October 12, 2010

By Dan Rafter

It’s overstating it to call property management the savior of commercial real estate brokerages. But in today’s challenging commercial environment, property management services have provided struggling brokerages with a reliable source of income. For many companies, property management has made the recession and its slow recovery at least a little more bearable.

Midwest Real Estate News recently spoke with Dave Petersen, chief executive officer of the asset management company of Chicago’s NAI Hiffman. He had some illuminating information to share about succeeding in the property management business today.

Midwest Real Estate News: How important is property management today?
Dave Petersen: Aside from the obvious fact that there are reoccurring fee revenues that come from the property management business to help contribute to the operating bottom line of any company, there are some other benefits to property management. When you are working in property management, you are creating other access to revenue streams. In the product that you lease and manage, other transactions occur. You are creating deal flow within that asset-managed portfolio. You are providing your leasing brokers an additional opportunity to call for business as they are out trying to fill space in buildings. You are creating construction-management revenues. By being in that business in today’s economy, or by being asked to engage with lenders or CMBS folks that have problem assets in place, you are in line for the dispositions of the assets that are under that management base.
Lastly by being in the property management business, whether on the brokerage side of the business or the representation-of-product side, you are at the table with tenants. Tenants today are gold in the eyes of investor clients. Nothing helps operating costs more so than being able to have a good tenant in place. Read more

Posted by NAI Hiffman | Filed Under Asset Management, Media Coverage