MINNEAPOLIS (January 12, 2009) – Ryan Companies US, Inc., announced today that Sumitomo Corporation of America (SCOA) has chosen Ryan to assume property management responsibilities of their North American real estate portfolio. The agreement assigns Ryan management of all of SCOA’s office buildings, consolidating their due diligence, property management, tenant leasing and day-to-day operations under a single company. The portfolio, which includes properties in California, Arizona and the District of Columbia, also features the newly acquired Miami Center building located in Miami, Florida.
“Sumitomo Corporation of America is pleased to have Ryan handle property management for our North American real estate portfolio,” said Robert Obringer, general manger of SCOA’s Real Estate Unit. “We pledge to provide our tenants with the ultimate office space experience, and Ryan’s experience will ensure each tenant will receive the best services to address their needs.”
The North American real estate portfolio features a diverse array of distinctive properties, including:
Miami Center located at 201 South Biscayne Boulevard in the central business district of Miami, Florida contains 782,210 square feet of rentable space on 34 floors. Designed by internationally-acclaimed architect Pietro Belluschi, and clad in Italian travertine marble, Miami Center has been a striking figure in the downtown Miami skyline since 1983. In addition to breathtaking views of Biscayne Bay and the city skyline, the complex is easily accessible from Interstates 95 and 395 and other major expressways. The building also has immediate access to Bayside Marketplace, a shopping and restaurant complex, as well as the adjoining Inter-Continental Hotel Miami.
“Ryan is honored to manage this portfolio from a well-known and respected firm like Sumitomo Corporation of America,” said Mike McElroy, Executive Vice President, Real Estate Management, Ryan Companies US, Inc. “Our customers have identified Ryan as a leader in property management and we are excited to use our expertise to meet their high standards of customer satisfaction.”
In addition to property management, Ryan is also leading rebranding efforts for the Miami Business Center and the Mission 123 building. New brands for each property will help communicate the high-quality features of these properties that deliver the upscale environments that current and prospective tenants seek.
About Sumitomo Corporation of America
Sumitomo Corporation of America (SCOA) is an integrated trading and investment enterprise with offices in 11 major U.S. cities. Established in 1952 and headquartered in New York City, SCOA is the largest wholly owned subsidiary of Sumitomo Corporation, Japan (SC), an integrated global trading firm. SCOA has diversified investments and trading businesses involved in manufacturing and marketing of consumer products, providing financing for customers and suppliers, coordination and operation of urban and industrial infrastructure products, providing logistics and transportation services, developing natural resources, distribution of steel and other products and developing and managing commercial and residential real estate. The Company has a portfolio of commercial properties with a combined market value in excess of $600 million. For more information about SCOA, visit www.sumitomocorp.com.
About Ryan Companies US, Inc.
Ryan Companies US Inc., a nationally recognized developer, design-builder and real estate manager, has specialized in fully integrated solutions for more than 70 years. Ryan builds lasting relationships with a project delivery model based on full-service customized solutions and total collaboration – pairing the customer’s needs and expectations with the talents of a team of developers, financiers, architects, engineers, constructors and property managers. In addition to its Minneapolis office, Ryan has offices in Chicago, Phoenix, San Diego, Tampa, Cedar Rapids, Davenport and Des Moines, Iowa. Ryan was named the 2007 National Developer of the Year by the National Association of Office and Industrial Properties (NAIOP). For more information, visit www.ryancompanies.com