BOOTHWYN, PA-GID Investment Advisers LLC is bringing on Jackson Cross Management Services to oversee six buildings that total 215,668 square feet at Naamans Creek Center, a 125-acre business park located on Route 322 here.
“While we currently manage more than 11 million square feet of commercial real estate, this assignment will allow us to showcase our property management platform for the office and flex property type," says Larry Zipf, president of Jackson Cross Management Services. He adds that each year the firm collects roughly $50 million in rent. Assets now under management exceed $2 billion.
According to Jackson Cross' Eric Gorman, the firm currently represents GID in its leasing efforts at Naamans Creek so stepping in as the management team was a natural progression. “We were looking for a property management firm that has strong local relationships, local market knowledge the ability to deliver superior services, Rich Sullivan, vice president of GID, tells GlobeSt.com.
GID’s portfolio of business parks consists of 5.1 million square feet of office, flex and industrial space in 17 business parks located in eight states. GID also owns one million square feet of suburban office property and over 12,000 apartment homes spanning 12 states. GID partners with the DuPont Pension Fund, CalPERS, the State of Oregon Pension Fund and CalSTRS in co-investment joint ventures for flex, office and multifamily acquisitions.
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