Colliers Takes Over Panattoni Portfolio

BOSTON-Panattoni Development Co. is handing over managing duties for an 18-million-square-foot office and industrial portfolio in 11 major US markets. The markets will include: Atlanta, Chicago, Dallas, Houston, Denver, Indianapolis, Memphis, Nashville, New Jersey, St. Louis and Tampa Bay. This portfolio represents half of Panattoni’s US portfolio.

In a release, Roger Bilstad, SVP of Colliers Real Estate Management Services, says that Colliers is taking over the portfolio in an effort to help Panattoni achieve “immediate and long-term business objectives,” which according to Dean Mueller of Colliers, allows Panattoni to “focus on [Panattoni's] most strategic asset management issues.” Mueller points to investment and development opportunities as the source of Panattoni’s new focus.

The entire portfolio was undisclosed, but the Houston properties–which comprise seven office and one industrial–totaling 4.1 million square feet were. The portfolio is comprised of: 33,000-square-foot 10120 Northwest Freeway; 5,823-square-foot 12650 North Featherwood Dr.; 62,607-square-foot 13100 Wortham Center Dr.; 65,550-square-foot 5050 Westway Park Blvd.; 103, 200-square-foot 6161 Rothway; 129,505-square-foot 10900 Corporate Centre Dr.; 131,908-square-foot 4920 Westway Park Blvd.; and the industrial building, 486,720-square-foot 14500 North Freeway.