CINCINNATI, OH (May 23, 2011) – Daymark Realty Advisors Inc., a leading provider of strategic asset, property management and structured finance solutions for owners of commercial real estate, today announced that it has secured a 10-year lease expansion and renewal totaling 29,733 square feet with the Government Services Agency at One Northlake Place (top left photo) in Cincinnati. Daymark Realty Advisors has executed lease transactions totaling approximately 1.2 million square feet valued at $18.9 million, year-to-date.
Daymark Realty Advisors manages One Northlake Place, a four-story, Class A office building located at 11500 Northlake Drive, on behalf of individual owners through one of its subsidiaries.
The GSA transaction consists of two separate 15,000-square-foot leases, one for the Veteran’s Health Administration (VHA) National Center for Organization Development (NCOD) and the other for the Department of Veterans Affairs (VA) Veterans Integrated Service Network (VISN).
“The Government Services Agency has been a tenant at One Northlake Place for more than 10 years,” said Elizabeth Grossman, vice president, asset management. “The lease renewal and expansion will increase the building’s occupancy from 75 percent to 83 percent, far outpacing the local submarket where the average occupancy rate is 79 percent.”
Built in 1986, One Northlake Place is an approximately 177,000-square-foot office building situated on the former 10-acre Quantum Campus. The property is located in Sycamore Township, an unincorporated municipality of Greater Cincinnati that does not levy personal income taxes, but instead operates with a local real estate tax.
John Schenk from Colliers International represented Daymark Realty Advisors in the transaction. The Government Services Agency was self-represented.
For more information regarding Daymark, please visit http://www.daymarkrealtyadvisors.com/.
Contact: Damon Elder, Direct: 714.975.2659 • Cell: 714.356.1460
No comments:
Post a Comment