NAS Adds New, Class-A Indiana Office Property to Management Portfolio
NAS, one of the Nation’s leading commercial real estate companies, has assumed property management and asset management responsibilities a prime Class-A office property in South Bend, Indiana.
The property was recently acquired by NAS Investment Solutions and was newly constructed in 2021. The 82,064 square-foot office building serves as the national headquarters for Press Ganey, the area’s fifth largest employer and a leading provider of performance measurement and improvement services to U.S. healthcare providers. The company currently has 1600+ employees in 23 locations across the U.S. and over 41,000 customers, including over 80% of the largest U.S. hospitals and medical service providers. Press Ganey has a 98% customer-retention rating.
Since 2008, NAS has served over 2,500 investment clients and has established an impressive track record for investment property management. The track record includes generating over $585 million in cash distributions to property investors and managing a commercial real estate portfolio of 169 diverse commercial properties, comprised of 24.422 million square-feet, in 30 states. The overall value of NAS’ managed portfolio in the company’s 12-year history, totals over $3.325 billion.
“We are extremely proud to have delivered an elite, trophy-class property to our investment clients while expeditiously closing the transaction for our 1031 Exchange investors,” commented Karen E. Kennedy, President and Founder of NAS Investment Solutions and National Asset Services. “This property acquisition is the direct result of our tenacious acquisitions team, our exhaustive underwriting process and our transactions management expertise. We look forward to delivering an unparalleled level of management services to the property’s tenant and our investment clients as asset manager and property manager.”
Located less than two miles southwest of downtown South Bend, the Press Ganey property’s structure and design were recognized by the Indiana Kentucky Associated Builders and Contractors with the 2021 Award of Excellence in Construction. The 6.8-acre site consists of approximately 408 surface parking spaces and features a unique 4,800 square-foot rooftop employee patio lounge.