Cornerstone at Norwood
SIZE:250,000 SQ. FT.
ASSIGNMENT TYPE:DEVELOPMENT FACILITY MANAGEMENT PROPERTY MANAGEMENT ASSET MANAGEMENT
ASSIGNMENT LENGTH:2004 – CURRENT
Cornerstone at Norwood is a redevelopment of an urban residential neighborhood set on 4.5 acres of land. The site is located five miles north of Downtown Cincinnati and five miles south of Kenwood Towne Center. The complex is within walking distance to Rookwood Pavilion, Rookwood Commons, and most recently, Rookwood Exchange which are three major retail and restaurant developments in the area.
Ackermann Groups management plan is to consistently provide superior service to each tenant throughout their entire lease term. The property is diligently maintained with a focus on preventative maintenance, property preservation and daily custodial services. Tenants of Cornerstone at Norwood benefit from green initiatives, including an Energy Management System that optimizes energy efficiency, onsite recycling program, use of green cleaning products, and LED lighting in all common areas. Quality of service is ensured through maintaining relationships with preferred vendors, and retaining a highly trained onsite maintenance and office staff.
THE ADDED VALUE:
The asset has experienced a high level of occupancy since opening the first of three buildings in the fall of 2004 with building two coming on in 2005 and building three opening in 2006. Cornerstone at Norwood saw an immediate return to investors, including distribution to investors for the first 10 years. Currently, Cornerstone at Norwood maintains a “Class A” property ranking for tenants and visitors to the complex.