Thursday, February 23, 2017

PM Hotel Group Completes Three, Additional Renovations Totaling $14 Million to Conclude February 2017

                    
 
Joseph  Bojanowski
WASHINGTON, DC and OAKLAND, CA,  Feb. 23, 2017— Officials of PM Hotel Group, a leading, national hotel management company, today announced that it has completed the renovations of the 282-room DoubleTree by Hilton Dallas-DFW Airport North, the 84-room/suite Fairfield Inn & Suites Dulles Airport Chantilly and the 132-suite Homewood Suites by Hilton Oakland-Waterfront.

“Including the recently announced multi-million refurbishment of the 353-room Sheraton Raleigh Hotel in North Carolina, we already have overseen and completed the renovation of four hotels in the first two months of the year, totaling more than $14 million,” said Joseph Bojanowski, president of PM Hotel Group.

“With the economy currently on firmer ground, businesses have decided to begin spending on such things as travel and meetings again, a boon to the hotel industry.  

"To maintain and/or enhance our hotels’ positions within their various markets, we continually look for ways to improve the guest experience, whether through product and amenity updates or improved management and marketing practices.

 “Each of these hotels have achieved ‘like-new’ status, and we are confident they quickly will regain their rightful standing as market leaders within their segments.”

For a complete copy of the company’s news release, please contact:

CHRIS DALY
PRESIDENT
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553


Wednesday, February 22, 2017

HFF arranges $12.14 million acquisition financing for high-street retail building in the Beverly Hills, CA Triangle



Single story vacant property, 315--319 North Beverly Drive, Beverly Hills, CA

Marc Schillinger
LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $12.14 million in acquisition financing for a high-street, vacant retail property at 315-319 North Beverly Drive in Beverly Hills, California.

HFF worked on behalf of the borrower, Sterling Organization, to place a non-recourse, fixed-rate loan at $2,583 per square foot.

315-319 North Beverly Drive is a single-story, 4,700-square-foot property located in the Beverly Hills Golden Triangle on the Rodeo Drive side of North Beverly Drive.  North Beverly Drive is one of United States’ most prominent and well-known retail and restaurant destinations.

The HFF debt placement team was led by director Marc Schillinger, senior managing director Chris Drew and associate Ryan Ash. This transaction comes immediately after HFF’s recent $122 million sale of The House of Bijan on Rodeo Drive, which sold for a record-breaking $19,403 per square foot.

“We are extremely happy with the result of our marketing efforts on behalf of Sterling Organization,” Schillinger said.  “Demand for high-street product is at an all-time high.”


For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


HFF closes sale of Courtyard Boston Logan Airport hotel in Boston, MA


Courtyard Boston Logan Airport, 225 William F. McClellan Highway, Boston, MA


Daniel C. Peek
NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Courtyard Boston Logan Airport, a 351-room, full-service, Marriott-branded hotel in Boston, Massachusetts, near Boston Logan International Airport. 

HFF marketed the property on behalf of the seller, affiliates of Rockwood Capital, LLC.

Located at 225 William F. McClellan Highway, Courtyard Boston Logan Airport is situated in East Boston, 2.5 miles north of Boston Logan International Airport and within five miles of downtown Boston.

 Additionally, the property is located along Route 1A, which connects to downtown Boston via the Sumner and Ted Williams Tunnels.  The hotel was built in phases and comprises 12-story and 11-story guestroom towers connected by a two-story, multi-use building.

 The hotel features 2,257 square feet of function space, an indoor swimming pool, fitness room, business center, complimentary shuttle service and Brinkley’s Restaurant & Lounge.

Denny Meikleham


The HFF investment sales team was led by senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director Denny Meikleham and directors KC Patel and Alan Suzuki.

“The Logan Airport lodging market continues to be one of Boston’s best-performing submarkets,” Meikleham said.  

“Courtyard Boston Logan Airport has consistently out-performed other airport hotels because of its location, quality, Marriott affiliation and management team.  HFF has a long-term relationship with both the buyer and seller and viewed this acquisition as a ‘win-win’ for both entities.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


HFF arranges $12.9 million acquisition financing for 5-building light industrial portfolio in Orlando, FL

  
Cypress Industrial Park, Satellite Boulevard, South Orlando, FL

Jon Mikula
 FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $12.9 million in acquisition financing for Cypress Industrial Park, a five-building light industrial portfolio totaling 256,838 square feet in southern Orlando, Florida.

HFF worked on behalf of the borrower, Denholtz Associates (Denholtz), to place the 10-year, fixed-rate loan with Principal Global Investors (Principal). 

Cypress Industrial Park comprises five single-story light industrial buildings that were constructed between 1987 and 1997.  The buildings are divided into 28 units and feature tilt-wall construction, range in size from 13,807 to 51,060 square feet, have an average clear height of 19.6’ and have a 33 percent office finish.

  The buildings are 98.5 percent leased to a variety of tenants, including Total Logistics Services, Rock ‘Em Apparel, Airstar, Hanger Prosthetics, Overhead Door Corporation and HNM Enterprises, LLC.

  Situated on 23.47 acres at 9500, 9535, 9603, 9777 and 9901 Satellite Boulevard, Cypress Industrial Park is within two miles of U.S. Route 441, State Route 528 and the Florida Turnpike, all of which provide access to the rest of Florida and into the surrounding states.

Michael Weinberg
 The portfolio, which is located in the Orange County Light Industrial market, is five miles east of Orlando International Airport and seven miles east of the Orange County Convention center.

The HFF debt placement team representing the borrower was led by senior managing directors Jon Mikula and Michael Weinberg and managing director Michael Klein.

“This acquisition is a perfect complement to Denholtz’s growing Florida portfolio and its business model, which specializes in assets of this size with many tenants,” Klein said. 

“Principal is very experienced in this market as both an investor and lender, so they quickly understood the deal, were able to provide terms that enabled the borrower to meet their return requirements and were able to underwrite and close the loan within a relatively short closing period.”


For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


Olive Hill Group Brings Asset in Growing Silicon Beach Submaket to Nearly 100-Percent Occupancy with Global Digital Media Company


Corporate Pointe, Culver City, CA

LOS ANGELES, CA (Feb. 21, 2017) – Olive Hill Group, a private investor, operator and developer of commercial real estate, has leased half of the fifth floor of its creative office campus in Culver City to Omnia Media, a subsidiary of the international Canadian media company Blue Ant Media, Inc.

The office complex is located at 300 Corporate Pointe in Culver City, California.

 Omnia Media will lease 9,762 square feet on the 5th floor of the building. Matt Brainard at Savills Studley represented the tenant, Omnia Media, while Joe King and Matt Sprowles at Madison Partners represented the landlord, Olive Hill Group.

Omnia Media, one of the world’s largest digital content producers and distributors that helps global brands maximize the power of online videos, has outgrown its existing space and will relocate to 300 Corporate Pointe, bringing the asset to 95 percent occupancy.

“Culver City is the next creative growth hub of Silicon Beach,” says Michael Cho, President of Olive Hill Group. “It has attracted a significant number of players in the digital media, entertainment, and technology industries, marking its emergence as one of the most dynamic creative markets in the entire southern California region.”

Cho notes that this new lease is indicative of a larger trend as creative tenants migrate to the Playa Vista neighborhood of Silicon Beach where entertainment giants such as YouTube, Netflix, and Buzzfeed have taken up residence.

“Tenants such as Omnia Media are flocking to Silicon Beach to be at the epicenter of the digital entertainment action,” explains Cho. “Our ability to secure a lease of this caliber is a testament to the quality of this asset, as well as to the growth of this market.”

According to Tim Lee, Olive Hill’s Vice President of Corporate Development and Legal Affairs, this new lease reflects the firm’s strategy of capitalizing on the growing demand for creative office by providing environments that foster innovation and collaboration.

“The office building’s flexible outdoor workspace, easy accessibility in a low-rise setting, and creative buildouts make this the perfect location for a number of creative tenants seeking a value-oriented alternative to office space in neighboring Venice and Santa Monica,” continues Lee. 

“By providing innovative workspaces that will attract businesses in the tech, media, and digital entertainment industries, we are cultivating an ecosystem of creative tenants that will drive long-term value for the asset.”

Along with Omnia Media, the office campus’ tenant mix includes DataScience Inc. and Ipsos Insight, a global market research and consulting firm.


For a complete copy of the company’s news release, please contact:

Katie Kea / Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940

Voit Real Estate Services Helps Nutrition Company Relocate to Ontario, CA With 392,080-SF Lease


Frank Geraci
Ontario, CA – Voit Real Estate Services has successfully completed the lease of a 302,080 square-foot industrial/R&D facility in Ontario, California on behalf of Nellson, LLC, a leading full-service bar and powder nutrition provider in North America.

Frank Geraci, Executive Vice President of Voit’s Inland Empire office, represented Nellson as the lessee and IDI Gazeley as the lessor in the $30 million transaction.

“Nellson was planning a move from its four-building aging campus in Irwindale, and was seeking a modern property that could deliver optimal efficiency, increased capacity, and expansion space to support future growth,” explains Geraci, who notes that competition is high for industrial space throughout the Inland Empire market.

“Industrial vacancy rates remain in the low five percent range in spite of the influx of over 77 million square feet of new construction in the past two years,” he says.  “Tightening industrial markets and rising rents in neighboring coastal regions continue to drive businesses inland, resulting in increased demand for premium space in all size ranges in the Inland Empire.”

Geraci notes that securing this facility for Nellson reflects Voit’s ability to meet the needs of both tenants and landlords.

“By sourcing this off-market opportunity, we were able to provide Nellson with a high-profile, centrally-located facility, while simultaneously securing a high-quality tenant on behalf of the property owner,” affirms Geraci.  “Further, we were able to identify a property in close proximity to the client’s Irwindale operations, enabling Nellson to retain its experienced local workforce as it relocates.”


Jamie Better
Nellson plans to invest $40 to $50 million in the Ontario facility to create a world-class production facility, according to Jamie Better, Nellson’s Chief Executive Officer.

“We plan to create a state-of-the-art manufacturing facility to better serve the rapidly evolving needs of our customers,” Better says. 

 “After careful review, our leadership team concluded that leasing and upgrading a new facility would help us reach that objective most effectively. Our goal is to have the new facility fully operational by the first quarter of 2018.”

Nellson plans to build out a state-of-the-art R&D lab to support corporate R&D efforts, commercial scale-up, and testing of customer formulations; and will create segregated production lines that provide brand confidentiality, maximum allergen control, food safety, and efficient sanitation, as well as flexible scheduling.

Built in 1989, the Ontario industrial facility features 25-foot clear height ceilings, 43 dock-high loading doors, ample parking spaces, and an ESFR sprinkler system. The property offers immediate access to the 10, 60, and 15 freeways, as well as the Ontario International Airport for transportation and distribution.

The property is located at 1000 S. Etiwanda Ave, Ontario, California.


For a complete copy of the company’s news release, please contact:

Katie Kea / Jenn Quader
Brower, Miller & Cole
(949) 955-7940


Tuesday, February 21, 2017

Phillips Edison Sells Five Shopping Centers Totaling 583,000 SF


Eric Wohl
CORONA DEL MAR, CA – Hanley Investment Group, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that in separate transactions Hanley Investment Group's Executive Vice President Eric Wohl served as advisor in bringing the buyer and seller together in the sale of five shopping centers owned by Cincinnati, Ohio-based firm Phillips Edison & Company, one of the nation’s largest owners and managers of grocery-anchored shopping centers.

The buyer was Albanese Cormier Holdings, a commercial real estate investment company based in Beaumont, Texas. The retail properties, which were located in either secondary or tertiary markets, totaled 583,337 square feet.

The properties that traded were Quincy Plaza in Ottumwa, Iowa; Kokomo Plaza in Kokomo, Indiana; Catawba Village in Newton, North Carolina; Lakeside Shopping Center in Anderson, South Carolina; and Louisa Plaza in Louisa, Kentucky.

“Significant demand and competition in core markets continue to compress yields. Investors seeking higher return are looking to non-major markets to meet their investment objectives,” Wohl said.

Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $5 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visit www.hanleyinvestment.com.


      For a complete copy of the company’s news release, please contact:

Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
830.997.0963



Thought-Leader Manny Gonzalez of KTGY to Speak on Housing Trends of Today and Beyond


Manny Gonzalez
LOS ANGELES, CA - International award-winning KTGY Architecture + Planning announced today that Manny Gonzalez, FAIA, LEED AP, managing principal of the firm’s Los Angeles office, will serve as keynote speaker for a live webcast scheduled to air on February 22, 2017, at 3:00 p.m. ET on MultifamilyBiz.com, the largest media platform in the multifamily housing industry. 

Gonzalez is the managing principal for KTGY’s Los Angeles office

Registration for the webcast is available at MultifamilyBiz.com.

2020 Vision: Housing Trends of Today and Beyond will delve into an array of topics, such as home automation, urban living, walkable communities, and how millennial’s are driving technology into the housing mix.

 This fast-paced 60-minute digital media webcast will focus on what multifamily housing professionals need to know about the next generation of design trends emerging in the market.

Ernest F. Oriente
Joining Gonzalez, are property management expert Ernest F. Oriente of PowerHour, and multifamily technology innovator Kerry W. Kirby, CEO of 365 Connect, who are the hosts of the MultifamilyBiz.com + PowerHour Digital Media Webcast Conference Series. 

With a combined experience of almost 50 years in the multifamily housing industry, Oriente and Kirby deliver comprehensive, educational, and leading-edge programming.

Kirby stated, “We are excited to have Manny join us and present his insights on where housing is trending to our global audience. As a leader in our industry, Manny always delivers current, captivating, and relevant information that is affecting the way multifamily communities are being developed in today’s ever-changing market.”

Gonzalez reports that the KB Home ProjeKt at last year’s GreenBuild Conference demonstrated some of the features of the future, including a green wall, drone landing pad, and refrigerated package delivery storage. It also showcased a very simple “low tech” feature of a wall that moved to allow a secondary bedroom to become an office or disappear altogether and expand the great room into an even larger entertainment space. 

Remember the Betamax and Window’s Vista? Not all technologies are improvements and developers need to avoid building properties that are outdated before they stabilize, said Gonzalez. “I can remember when builders thought they were on the cutting edge of technology incorporating iPod docking stations into new construction. 

"It wasn’t even a year later that Apple introduced a newer version of the iPod and it didn’t fit anymore. In fact, none of the following generation did either. Wi-Fi and Bluetooth have allowed us more freedom with technology so we are less likely to build something that is dated just after its completed,” Gonzalez stated.

Kerry w. kirby
Uber and Lyft are now mainstream travel options and the autonomous car is just around the corner, Gonzalez reports. 

What is the future of auto storage in housing? In 2015 the 16 to 34 age group only purchased 3.5 cars per 100 individuals compared to more than 6.5 for each of the 35 to 49 and 50 to 54 groups. 

“Parking requirements in new urban developments have been dramatically reduced,” said Gonzalez. “It’s not unrealistic to think that new homes in 10 years won’t have a garage. Residents will use their app that delivers the driverless car service to their front door.”

Millennials have been the focus of apartment builders the last half dozen years, but are age-qualified properties the next big thing? With 10,000 people a day turning 65 until 2030, the boomers are a huge demographic. “Affordable senior apartments have always leased well, but today more luxury versions are coming online and leasing very well,” explained Gonzalez. “In some cases, it’s residents just wanting to downsize and not carry another mortgage and, in others, it’s a second home near the grandkids. As the millennials start buying homes and getting out of the rental market, the 55+ population segment is just beginning to get into it.”


      For a complete copy of the company’s news release, please contact:

Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
830.997.0963


Call 888.456.KTGY or visit www.ktgy.com.

Monday, February 20, 2017

JLL Promotes Seven Brokers Across Multiple Phoenix Business Lines

 
Top row L to R: Andrew Medley, Chris Corney, Trevor Pratt, Charles Steele
Bottom row L to R: Steve Larsen, Riley Gilbert, Kyle Westfall

PHOENIX, AZ, Feb. 20, 2017 – The Phoenix office of JLL has promoted seven brokers across multiple business lines, representing a strong and steady evolution of the local office team. These promotions include: Andrew Medley, Chris Corney and Trevor Pratt in the Tenant Representation division; Steve Larsen, Riley Gilbert and Kyle Westfall in the Industrial division; and Charles Steele in the Capital Markets Group.

“Each of these brokers serve JLL with their exceptional market knowledge, integrity and unparalleled work ethic,” said JLL Senior Managing Director Dennis Desmond. “We appreciate all that they do to support our team and, more importantly, to create success for our clients.”

In the Tenant Representation division, Andrew Medley has been promoted from Executive Vice President to Managing Director, and Chris Corney and Trevor Pratt have been promoted from Associate to Vice President.

Medley exclusively represents tenants through leasing, facility and site acquisition, with key clients including Isagenix, Orcutt Winslow, 360 Cloud Solutions, VIP Mortgage and 41st Parameter. Since joining JLL in 2008, Medley has earned multiple honors for his transaction success, including Top Achiever and Top Gun (top 10 percent of the company).

Corney represents corporate and governmental entities in facility and site acquisitions and dispositions. A broker with JLL since 2012, and named a JLL Top Achiever in 2016, Corney has assisted with significant local and national accounts including the State of Arizona, City of Phoenix and UnitedHealth Group.

Dennis Desmond
With a background in finance, marketing and real estate, Pratt serves a broad range of corporate tenants in facility and site acquisition, strategic planning and lease review and negotiations. Since joining JLL in 2012, he has helped serve clients including HomeStreet Bank, Eide Bailly and Unum Group.

“These are experienced brokers who have advised their clients through very historic economic times,” said JLL Managing Director Pat Williams. “Their hard work has helped to establish a host of new companies in Phoenix and created environments in which existing companies can thrive and grow.”

In JLL’s Capital Markets Group, Charles Steele has been promoted from Senior Vice President to Executive Vice President, with a focus on multifamily investment sales and equity procurement ranging from $10 to more than $100 million in markets across the Southwest. Since joining JLL less than five years ago, Steele has advised on more than $800 million in transactions.

In JLL’s Industrial division, Steve Larsen has been promoted from Vice President to Senior Vice President, and Riley Gilbert and Kyle Westfall have been promoted from Associate to Vice President.

A 10-year industry veteran, Larsen specializes in industrial building and land sales, leasing and build-to-suit transactions for developers, landlords and tenants, with an emphasis on Phoenix’s Southeast submarket. Since joining JLL in 2012, he has completed more than 6.7 million square feet of industrial dispositions totaling more than $1.2 billion.

Gilbert serves institutional and private industrial real estate owners and corporate tenants throughout metro Phoenix. He joined JLL in 2011 and has completed more than 200 transactions totaling more than 4.4 million square feet for clients including DCT, Merit Partners, ViaWest, Becton Dickinson and M+W Group.

Westfall, a 9-year industrial real estate specialist, represents industrial occupiers and landlords across the metro market. Since joining JLL in 2013, Westfall and his team have completed more than 265 transactions. Westfall brings together technology, strategy and industry knowledge to serve clients including Clarion Partners, LBA Realty, Tire’s Warehouse Inc. and Fred Jones Enterprises LLC.

For a complete copy of the company’s news release, please contact:

Stacey Hershauer
  Phone:
 +1 480 600 0195
  Email:
 




Saturday, February 18, 2017

MCA Realty Acquires Two Assets Totaling 175,479 SF in Las Vegas, NV for $18.3 Million



Harmon Warehouse Center, Southwest Las Vegas, NV

 Las Vegas, NV – MCA Realty, a full service real estate investment and management company, has acquired two assets in the Las Vegas market, including the Harmon Warehouse Center, a 145,491 square-foot multi-tenant industrial building in Southwest Las Vegas, as well as the Gibson Tech Center, a 29,988 square-foot office building in Henderson, Nevada, for a combined total of $18.3 million.

“In comparison to other markets across the West, Las Vegas continues to offer value and pricing levels that are still well below former peak levels,” says Tyler Mattox, Principal at MCA Realty. “The local industrial market is in its 17th consecutive quarter of positive net absorption, and vacancy in this market dropped to 4.1 percent at the end of last year - the lowest in Southern Nevada since 2006.”


Patti Dillon
Mattox notes that the office market in Las Vegas and its Henderson submarket is also performing well, posting five consecutive years of healthy net absorption with steadily increasing lease rates.

“We acquired each of these assets well below their replacement cost, giving us the opportunity to increase value over time,” he says. 

“The attraction of the Gibson Tech Center asset, in particular, was the freestanding nature of the building with an 8:1,000 square feet surface parking ratio, which will allow us to attract tenants with higher parking needs than those that a traditional office building can accommodate.”

MCA Realty now owns 18 assets encompassing nearly one million square feet in Las Vegas.  The firm continues to seek out industrial and office acquisitions in the $2 million to $25 million range.

MCA’s two recent acquisitions include:


Acquisition #1:  Harmon Warehouse Center

MCA Realty acquired Harmon Warehouse Center, a 145,491 square-foot multi-tenant industrial building, from an institutional investor for $15.15 million.

Gibson Tech Center, Henderson, NV
 “This is an asset we have been watching carefully for many months,” says Mattox.  “With no new development of multi-tenant industrial product underway in the market, we anticipate strong tenant demand for this property over the next several years.”

The prior owner of Harmon Warehouse Center implemented a $1.2 million renovation program in 2016.  Even as a renovated asset, the property is currently operating at rents that are 18-percent below market value.

“We will immediately increase net operating income by bringing rents up to market levels as leases roll,” says Mattox. “Moving forward, we plan to hold the asset and to capitalize on continued growth and rent appreciation given its superior location and adjacency to the Strip.

Harmon Warehouse Center is located at 4301 and 4325 Valley View Boulevard in Las Vegas, Nevada, approximately one mile from the Las Vegas Strip. The buyer and seller were represented by Kevin Higgins, Garrett Toft, Zac Zaher, Sean Zaher and Jake Higgins of CBRE.

Tyler Mattox

 Acquisition #2:  Gibson Tech Center

MCA Realty has also acquired Gibson Tech Center, a 29,988 square-foot vacant office building in Henderson, Nevada. The property was acquired at a significant discount to replacement cost at $3.15 million.

“This building was a former ITT facility that had functionally obsolete improvements,” says Mattox.  “Our business plan is to “whitebox” and reposition the building to appeal to call center and other tenants with significant parking requirements.”

            According to the Las Vegas Review Journal, the call center industry is flourishing in Southern Nevada, due in large part to the region’s strong population of multi-lingual residents.

            “By removing interior walls and creating a space tailored to this growing industry, we plan to lease the property and increase value,” explains Mattox.

            Gibson Tech Center is located at 168 North Gibson Road in Henderson, Nevada less than a mile from the 215 beltway, less than two miles from the US-95 freeway, and 10 miles east of McCarran Airport and the Las Vegas Strip.

            MCA was represented by Ryan Martin, Taber Thill, and Patti Dillon of Colliers International.

MCA Completes Three Dispositions in Las Vegas Market

In addition to its recent acquisitions, MCA Realty also recently completed three dispositions in the Las Vegas market, including:


Peter Cheng
·     Whitney Ranch, a 57,000 square-foot multi-tenant industrial/auto business park in Henderson, Nevada.  MCA acquired the asset in 2013 and sold it recently for $5.05 million.

·     Lamb Technology Center - MCA Realty sold two condo units totaling 12,694 square feet at this 116,302 square-foot mixed-use property for a total of $908,000.

·     Wigwam Jones Industrial Park - MCA Realty sold one of the units totaling 9,652 square feet in this 85,466 square foot industrial park for $1.2 million. Wigwam Jones has two remaining industrial condominiums from the 11 that MCA acquired in 2014.

MCA Realty is a full service real estate investment and management company specializing in office and industrial properties throughout the Western U.S.  The goal of the company is to identify commercial real estate investment opportunities and execute value creation strategies that maximize returns to its investors. 

MCA Realty's principals, Tyler Mattox, Jared Gordon, and Peter Cheng, have successfully navigated a full spectrum of market conditions, and pride themselves on building and maintaining strong relationships with industry partners. More information is available at www.mca-realty.com.


For a complete copy of the company’s news release, please contact:


Lauren Burgos/ Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940