Thanks in part to big office deals in Cincinatti and Nashville, Cassidy Turley has earned a prestigious honor in the latest office broker rankings.
Real Estate Alert ranked Cassidy Turley third in its mid-year 2011 Top Office Brokers rankings.
Cassidy Turley’s growth in capital markets increased the firm’s ranking in 2011. For the first six months in 2011, Cassidy Turley had $1.8 billion of office sales activity. For the full year in 2010, Real Estate Alert ranked Cassidy Turley sixth with $1.2 billion in office sales activity.
The rankings are based on office sales of at least $25 million collected by Real Estate Alert from commercial real estate firms operating throughout the United States.
“Cassidy Turley’s investment sales business in the first six months of this year has already exceeded total transaction volume for 2010,” said William Collins, executive managing director and principal at Cassidy Turley. “This growth is being driven by a wide range of domestic and foreign investors including life companies, public and private REITs, investment funds, pension fund advisors and wealthy individuals.”
Contributing to Cassidy Turley’s growth in 2011 were several benchmark sales in Washington, DC, including the National Press Building, which contained about 420,000 square feet of office and retail space and sold for $167.5 million.
Other recent transactions contributing to the firm’s improved ranking include the sale of a nearly 1-million-square-foot office portfolio owned by Duke Realty Corporation — consisting of two Cincinnati Class-A central business district buildings and three Nashville Class-A suburban buildings — for $97 million.
For the third quarter of 2011, Cassidy Turley is projected to close nine deals, totaling more than $1 billion in sales transactions and 5.7 million square feet.