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JRT, C&W Win 740,000-SF Assignment

SAN FRANCISCO, CA-The duo was selected by the Teachers Insurance and Annuity Association to assume leasing and management responsibility for five projects in Hayward and Union City that have a combined vacancy of about 6%.

By Brian K. Miller | Updated on November 07, 2004

SAN FRANCISCO, CA-New York-based JRT Realty and Cushman & Wakefield of California Inc. added 740,000 sf to their leasing and property management portfolios recently when the Teachers Insurance Annuity Association selected the duo to oversee a five-property portfolio in the Bay Area cities of Hayward and Union City. The 449,000-sf Whipple Business Center in Union City and the 176,750-sf Peppertree Business Center in Hayward comprise the vast majority of the portfolio.Greg Smith and Kimberly Brown of JRT are coordinating efforts with the C&W property management team of Iris Jiminez-Rodriguez and Rosanna Davidson. Leasing duties are being handled by John McManus, Ted Anderson and Kevin Ahaesy of Cushman & Wakefield’s Oakland Office.McManus, C&W’s director of Bay Area leasing, tells GlobeSt.com that TIAA acquired the property from Rreef, which handled the property management in-house and used BT Commercial to keep the space leased. The portfolio is currently about 94% leased, he says. the new assignment increases C&W’s overall Bay Area industrial management portfolio to about 4.5 million sf, adds Jim Arce, C&W’s managing director of asset services. JRT, a certified woman-owned company, provides clients with tenant representation, leasing and sales brokerage, and property management for office and industrial properties nationwide. Its clients include TIAA-CREF, the FDIC and the United Nations Federal Credit Union. In 2003, JRT formed a strategic alliance with C&W wherein C&W offers its clients the opportunity to hire certified minority vendor firms and JRT will offer its clients the global services of Cushman & Wakefield.

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