WASHINGTON, DC-Cassidy Turley will provide property management services for TA Associates Realty’s seven-office, 1.2 million-square-foot portfolio in Northern Virginia. The seven properties are located in Reston, Tysons Corner and Arlington.
Cassidy Turley is taking over the portfolio’s management from Cushman & Wakefield, which managed it for roughly seven years, according to William A. Grillo, Cassidy Turley senior managing director. The portfolio’s occupancy is roughly 92%, he said, with nominal vacancies.
It is the largest project management assignment the company has won this year in the DC area market, he tells GlobeSt.com, based on the square footage and number of buildings in the portfolio. He declined to provide a dollar value of the assignment.
The contract is also important to Cassidy Turley because it expands the company’s relationship with TA, Grillo continues, as up until now, Cassidy Turley has only worked with TA on the investment side. Grillo says the switch in providers on the part of TA is part of a long-standing trend among clients that developed when the downturn first began. "There has been a lot of quiet window-shopping going on among firms, as they re-evaluate providers."
Cassidy Turley Lands TA’s 1M Square Foot Office Portfolio
WASHINGTON, DC-Cassidy Turley will be taking on TA Associate Realty’s seven-asset portfolio in Northern Virginia.
Erika Morphy
WASHINGTON, DC-Cassidy Turley will provide property management services for TA Associates Realty’s seven-office, 1.2 million square foot portfolio in Northern Virginia. The seven properties are located in Reston, Tysons Corner and Arlington.
Cassidy Turley is taking over the portfolio’s management from Cushman & Wakefield, which managed it for roughly seven years, according to William A. Grillo, Cassidy Turley senior managing director. The portfolio’s occupancy is roughly in the mid-90s, he said, with nominal vacancies.
It is the largest project management assignment the company has won this year in the DC area market, he tells GlobeSt.com, based on the square footage and number of buildings in the portfolio. He declined to provide a dollar value of the assignment.
The contract is also important to Cassidy Turley because it expands the company’s relationship with TA, Grillo continues, as up until now, Cassidy Turley has only worked with TA on the investment side. Grillo says the switch in providers on the part of TA is part of a long-standing trend among clients that developed when the downturn first began. "There has been a lot of quiet window-shopping going on among firms, as they re-evaluate providers."
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