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CHICAGO-NAI Hiffman has almost doubled its management portfolio, adding 6.5 million sf, consisting of 43 institution-owned industrial and office properties within five suburban Chicago markets. The client is a TA Associates Realty, a Boston- based pension fund adviser who currently has office, industrial and retail holdings in the Chicago area as well as throughout the country.

The 6.5 million square feet of office and industrial properties awarded to NAI Hiffman are located in Carol Stream, Bloomingdale, Bolingbrook, Wood Dale, Itasca, Romeoville, Berkely, Melrose Park, Hillside, Downers Grove, Oak Brook and Oakbrook Terrace.The company will oversee these assets from its Oakbrook Terrace, Lombard and Rosemont office locations and integrate them into its current portfolio, which increases the firm’s total of managed and leased assets to more than 20 million square feet.

Dave Petersen, director of portfolio services for NAI, says the company previously managed a portfolio of 7.5 million sf. “We’ve added 10 new folks to the mix with this new portfolio,” Petersen told GlobeSt.com. “This is all part of our five-year strategic plan, to double our business. We’re in the first year of the plan, and we’re going to be adding a million sf a year going forward.”

The contract includes Woodland Corporate Tower at 1333 Butterfield Road in Downers Grove, a 175,900 sf office building. Petersen says the company won the business because of its commitment to local service. “This expansion aligns perfectly with our pro-active corporate strategy of serving the varied and unique requirements of institutional asset managers,” says Dennis Hiffman, chairman and chief executive officer of the company.

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