TROY, Mich., June 4, 2009 — New York-based Emmes Asset Management Company, LLC, a privately held real estate investment firm, today announced Nationwide Insurance as the newest tenant at Baluster Park in Troy, Mich. The announcement was made by Emmes Asset Management Company Associate Audris Shau.
Previously located in the Troy Officentre on Big Beaver Road, the Nationwide Insurance offices will now occupy 7,300 square feet of space in Clifton Tower, a 242,151-square-foot, multi-tenant office building that spans seven floors. It is one of eight buildings that form the Baluster Park office campus, which offers more than 1.2 million square feet of premium space fronting I-75 at Long Lake Road in Troy, Mich.
“We are pleased to have Nationwide Insurance as the newest tenant of Baluster Park,” said Shau. “Even in the current economy, this company is still a strong performer that can take advantage of the opportunity to reinvent their work space. We worked closely with the tenant to create an office environment for them that is unique to their needs and reflective of their position in the marketplace. Baluster Park is an ideal location for their business, near all the amenities of Troy with easy access to I-75.”
Founded in 1992, Emmes & Company, LLC is a privately held real estate investment firm that specializes in repositioning underperforming properties to achieve financial and physical well being. Emmes generally invests in and manages four property types: retail, office, industrial and multi-family. To date, Emmes has, on behalf of its affiliated entities, capital partners and investors, acquired over 390 assets, comprising over 35 million square feet at a cost in excess of $1.6 billion, representing an equity investment of approximately $634 million. The company’s current portfolio includes over 86 diverse properties encompassing over 10 million square feet located across 19 states.
Nationwide, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the world and is rated A+ by A.M. Best. Nationwide ranks #124 on the Fortune 500 list. The company provides a full range of insurance and financial services, including auto insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans and health and productivity services.