hsa commercial real estate hires general manager for its newly acquired 2.5 million square foot industrial portfolio
June 10, 2005
(Chicago – June 10, 2005) Christine Leonard, executive vice president and managing director, HSA Commercial Real Estate's asset management division, announced that the firm has hired Kenneth E. Verne as general manager for an 11 building, 2.5 million square foot industrial portfolio the firm recently acquired in Ohio and Kentucky .
Verne, who will be located in HSA's corporate headquarters in downtown Chicago, assumes both property management and leasing responsibilities for this significant portfolio. He will negotiate, monitor and adjust service contracts for the properties with appropriate subcontractors in order to maintain an economical balance between occupancy and production.
HSA acquired this multi-state portfolio from two large pension funds, New York State Teachers and SERBO. The acquisition consists of 11 industrial properties located in the Columbus and Cincinnati, Ohio metro areas, with two buildings located in the Kentucky suburbs of Cincinnati.
“We are very fortunate to have found Ken Verne,” said Leonard, “as these properties are leased to several high profile tenants such as Gap, Sears, Kellogg's, Hammacher Schlemmer and BT Property, LLC (formerly Menlo Logistics), all of whom will benefit from Ken's expertise. He brings several years of property management experience to the table and will utilize his vast experience and talent in adding even more value to HSA's new assets.”
Verne Brings Extensive Management and Leasing Experience to HSA
Verne comes to HSA from MB Real Estate Services where he served as general manager of a portfolio of five buildings totaling over 750,000 square feet in downtown Chicago and the suburbs. During his tenure at MB, he also served as assistant general manager of 181 West Madison Street, a 936,366-square foot Class A trophy office building in Chicago's Loop.
Verne also has extensive experience in lease negotiations on behalf of ownership, an asset that will definitely be a plus as HSA applies its award-winning formula to this group of properties by mobilizing its integrated brokerage and property management teams.
Verne, 30, is a graduate of the University of Iowa with a B.B.A. in Business Administration. He holds an active Illinois real estate salespersons license.
Celebrating more than 24 years of excellence in commercial real estate, Chicago-based HSA Commercial Real Estate is a full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. The firm and its principals have developed and acquired more than 30 million square feet of commercial real estate with total consideration in excess of $1.5 billion, its brokerage divisions have completed more than 6,500 transactions in over 30 states representing both owners and tenants, while the asset management division currently manages a property portfolio in excess of 18 million square feet.
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