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| Brookhollow Freeway Showroom Center, Santa Ana, CA |
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| Joe Winkelmann |
Orange County, CA (Dec. 2, 2013) – Orange County-based
investment and management firm MCA Realty has completed a new industrial
acquisition in Santa Ana, Calif. that reflects a growing trend in the Orange
County market, according to Tyler Mattox, Principal at MCA Realty.
The firm, which specializes in office and industrial
properties throughout the Western U.S., acquired the Brookhollow Freeway
Showroom Center, an 87,609 square-foot multi-tenant industrial/retail
property, for a total consideration of $9.5 million.
“Southern
California’s multi-tenant industrial market is progressing in a unique way,”
explains Mattox. “Selected high visibility industrial properties are being
renovated into contemporary showroom projects. Owners and investors are
creating spaces that deliver a distinctive experience to consumers.”
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| Michael Hartel |
“Today’s investors have new opportunities to transform older
multi-tenant properties into hubs for shopping, dining and more,” says Mattox,
who notes that the SoCo center in Costa Mesa, Calif. - a unique
destination for interior design trade, boutique shopping, and dining - is an
example of this new evolution.
The Brookhollow Freeway Showroom Center, which consists of
four separate buildings that are visible from the 55 freeway, will be
positioned as a retail destination center.
“By repositioning multi-tenant industrial properties and
creating destination centers, owners will be better able to attract and retain
strong tenants, which will ultimately have a positive impact on an investor’s
bottom line,” explains Mattox.
MCA Realty acquired the Brookhollow Freeway Showroom Center
as an off-market transaction, and plans to implement improvements and complete
the leasing of the center.
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| Kevin Turner |
The
property, which was 63 percent occupied at the time of purchase, is currently
occupied by Bestwinesonline.com, Kid’s Room Furniture, Sit n’ Sleep and AGR.
One of the property’s four buildings is vacant, and is divided into two suites
of 15,894 square feet and 16,006 square feet.
MCA Realty plans to market both of these suites for lease.
“This property presents enormous potential to tenants
looking to attract new customers based on its location, freeway visibility and
size,” notes Mattox.
Mattox also notes that MCA Realty was able to open escrow at
a favorable basis on this property as a result of the firm’s relationship with
the local brokerage team that handles the leasing for the project.
“The MCA Realty team is made up of former brokerage
professionals, and we pride ourselves on building strong partnerships with
brokers, working with them from acquisition to disposition to ensure that they
can benefit over the lifecycle of each investment.”
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| Tyler Mattox |
MCA Realty was represented by Joe Winkelmann of Voit
Real Estate Services in the acquisition.
The seller, a Seattle-based investment
manager, was represented by Mike Hartel and Kevin Turner also of
Voit Real Estate Services. The three professionals from Voit will handle the
leasing of the property on behalf of MCA Realty.
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| Jared Gordon |
With its newest Orange County acquisition, MCA Realty’s
portfolio now encompasses 679,970 square feet of multi-tenant industrial
product. The firm has added a total of over $33.2 million to its portfolio in
the last 12 months.
In addition to Southern California, MCA Realty is actively
acquiring properties throughout Las Vegas, Texas, and Arizona.
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.
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| Peter Cheng |
MCA Realty's principals, including 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.
For a complete copy of the company’s news release, please
contact:
Jenn Quader / Amanda Alenick
Brower, Miller & Cole
(949) 955-7940
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