USFP forms new property management partnership

Longtime commercial real estate veteran Michael T. Lanning is partnering with US Federal Properties (USFP) to oversee its property management portfolio. USFP acquires, develops, finances and manages properties primarily leased to the U.S. federal government.

Lanning will lead US Asset Services, a newly formed entity that has acquired USFP's Class A portfolio of 35 properties representing more than two million square feet in 14 states.

"We worked with Mike for 12 years at CBRE and have continued to maintain a great relationship with him over the years," said USFP Principal Rick Baier. 

"This partnership is an opportunity for Mike - who has been with large commercial real estate firms his entire career - to own, manage and develop his own company. It is equally beneficial for USFP since it allows us to focus on our core business of developing commercial properties."

The acquisition and partnership does not affect the development efforts of USFP Principals Rick Baier, Dan Carr, Cathy Baier and Kevin Kelly. Additionally, USFP's sister company, CBC Real Estate Group, will continue its development activities.

"The USFP acquisition gives us a national platform on which to build US Asset Services, which is focused on owners of government-occupied buildings and healthcare real estate," Lanning said. "I'm excited to take the best practice learnings from my 30-year career with large brokerage firms and partner with USFP to leverage its portfolio to service existing and future property management clients."

Anne Lemon, CPM, will join Lanning as Managing Principal at US Asset Services. US Asset Services will retain USFP's Property Management associates and clients and will co-office with USFP/CBC.

Unique incentive, multi-tenant footprint attract companies to Hunt Midwest Business Center

Hunt Midwest is seeing strong leasing activity for two Class A industrial buildings at Hunt Midwest Business Center (HMBC), a 2,500-acre commercial development in Clay County at I-435 and Parvin Road.

Four new tenants totaling about 250,000 square feet are leasing space in HMBC Logistics I and II, including American Tire Distributors Inc., ORBIS Corporation, Spartan Motors, Inc., as well as a leading supplier to the e-commerce industry set to open in April.

Each tenant qualified for a 100 percent, 25-year tax abatement. According to CBRE’s Austin Baier, who handles leasing for the buildings, the Enhanced Enterprise Zone incentive is helping close deals.

"The unique tax abatement available at HMBC really gets the attention of warehouse users. Once a tenant qualifies, then the whole building is qualified, so both HMBC Logistics I and II are solidified and locked in. That guarantees companies a true 100 percent tax abatement for 25 years," Baier said. 

Mike Bell, Hunt Midwest vice president of commercial real estate, agreed: "The EEZ is a game changer for companies looking to locate in HMBC. With the tax incentives offered, companies are benefiting greatly from substantial savings."

The robust leasing activity validates Hunt Midwest’s strategic decision to invest in multi-tenant facilities geared to tenants starting at 40,000 square feet, according to Hunt Midwest President and CEO Ora Reynolds. The strategy has been so successful, a third multi-tenant building is on the books.

"Phase 5 of the Hunt Midwest Business Center includes a third 200,000 SF multi-tenant building along with room for additional buildings ranging from 450,000 to 1.2 million square feet. As businesses grow, we will have the inventory to meet their growing demands within HMBC," Reynolds said.

Hunt Midwest co-developed the buildings with Chicago-based HSA Commercial.