Upon the recommendation of the legal counsel of the lender, Huntington Bank, a US Bankruptcy Court judge has awarded the receivership assignment to CB Richard Ellis. As receiver, CBRE will act as management and leasing agent for the project.
CBRE property manager Dan Sermak says he plans to add value to the office complex by establishing service contracts, addressing maintenance issues, abstracting leases and establishing processes to improve the quality and frequency of tenant and client communication. After building issues have been resolved and current tenant needs have been met, CBRE marketing associates will begin a campaign focused on securing new leases for the building.
"CB Richard Ellis has a successful history with taking over properties from receivership," says Tricia Foster CBRE Director of Property Management.
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