David Violette, vice president at locally based Colliers Houston, has been tapped to oversee the management of the portfolio. According to Violette, Panattoni had previously handled the portfolio's real estate management duties in-house. "Outsourcing these services to Colliers Houston will allow Panattoni the ability to focus on its core day-to-day business needs," he says.
The properties Colliers Houston now manages in the New Jersey/New York area include: two industrial buildings at 8001-8003 Industrial Hwy. in Carteret that total nearly 1.3 million square feet, and 290 and 260 Ballard Rd. in Middletown, NY, a pair of industrial/warehouse properties that encompass 522,531 square feet and 173,057 square feet, respectively.
Overall, Colliers International will provide management services to properties owned by Panattoni in Atlanta, Chicago, Dallas, Denver, Houston, Indianapolis, Memphis, Nashville, New Jersey, St. Louis and Tampa, FL. This represents just under half of Panattoni's 36 million-square-foot portfolio, which brings Collier International's total square feet under management to over 886 million square feet worldwide for all clients.
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