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| Brookhollow Freeway Showroom Center, 154 East Warner Street, Santa Ana, CA |
SANTA ANA, CA – MCA
Realty, a full service real estate investment and management company, has sold
the final building in the Brookhollow
Freeway Showroom Center, an 87,609 square-foot multi-tenant retail/showroom
project in Santa Ana, California.
The facility, which is
located alongside one of Orange County’s busiest freeways, consists of four
separate buildings, three of which were previously sold by MCA in late 2015.
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| Tyler Mattox |
The sale of the fourth
building, a 13,072 square-foot retail showroom currently occupied by Wine
Exchange, brings the investment completely full cycle, according to MCA Realty
Principal Tyler Mattox.
“We were able to create
significant value by renovating this asset, and subdividing the parcel to allow
us the ability to sell each building individually,” says Mattox.
“The Orange
County market is characterized by exceptional demographics, strong demand, and
a limited amount of new supply, which continues to place upward pressure on
rental rates and property values. We capitalized on this dynamic to achieve
strong rates of return for our capital partners.
MCA Realty initially
purchased the property in 2013 for $9.5 million and implemented a comprehensive
capital improvement plan, including interior and exterior improvements, updates
to the façade, and a renovated landscaping scheme.
“We were able to
significantly increase the value of the asset in performing these improvements,
says Mattox.
The building is located at
154 E. Warner in Santa Ana,
California. It was sold to WTW Properties, LLC, for $3.3 million. The previous
three buildings were sold for a combined total of $16.8 million.
Joe Winkelmann, Nick Velasquez, and Michael Hartel of Colliers International represented MCA Realty as the
seller in the transaction. Ryan Swanson
and Chris Conway of Lee & Associates represented the buyer, WTW
Properties, LLC.
For a complete copy of the company’s news release,
please contact:
Lauren Burgos
Junior Account Executive
Brower, Miller & Cole
895 Dove Street, Third
Floor
Newport Beach, CA 92660
p: (949) 955-7940
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