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Zurich Financial Hires UGL to Manage 8M SF

CHICAGO-The local firm will manage the Swiss insurance-based financial services provider's more than 400 properties across North America.

By Cari Brokamp | Updated on October 20, 2008

CHICAGO-UGL Equis, based here, has been hired to manage Zurich Financial Services’ portfolio of more than 400 locations, comprising 8.4 million sf, across North America. UGL Equis, a global corporate real estate firm, will oversee transaction management, brokerage, portfolio management and planning, project management and legal services and lease administrative services, including rent payment, for the insurance-based financial services provider. Zurich’s portfolio consists mostly of office space, with a small amount of warehouse facilities, which together represent 5.2 million sf of leased space as well as 3.2 million sf of properties the company owns.

The properties range from a few thousand sf to half a million sf, says Fred Waldman, an SVP in UGL’s Corporate Asset Management division. Waldman declined to disclose the amount his company will receive. “They wanted…to consolidate service offerings for consistency throughout their organization,” Waldman says. “They’re looking to gain efficiencies in expertise and productivity.”

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