MCA Realty Brings Office Asset Full Cycle in Henderson, NV

Gibson Tech Center, 168 North Gibson Road, Henderson, NV

 

Tyler Mattox

HENDERSON, NV -- MCA Realty, a full service real estate investment and management company based in Orange County, California, has sold Gibson Tech Center, a 29,988 square-foot office building in Henderson, Nevada for $6.98 million.

The firm acquired the asset in late 2016 for $3.15 million, according to Tyler Mattox, Principal at MCA Realty.

“We acquired Gibson Tech Center with a very specific business plan in-place,” explains Mattox. “We recognized the abundant parking at the property as a strong amenity and unique characteristic within the marketplace.

Gary P. Stache

"We decided to market the asset to call center operators and similar tenants with above average parking needs.”

This sale is demonstrative of MCA’s ability to quickly reposition a vacant asset to better fit the market and execute a lease with a global call center, and bring the project full cycle in a relatively short period of time, according to Mattox.

During ownership, MCA Realty implemented a series of renovations to the property including updating the main entry, completely modifying the interior layout to a more open concept, and new paint, among other improvements.

“Our comprehensive renovation plan and ability to tailor the building to call center tenants allowed us to quickly lease the asset to PRA Group, a global financial and business services company, on a nearly eight-year term,” says Mattox.

Patti Dillon

“This significantly enhanced the long-term value of the asset and presented an opportunity to attract a strong buyer pool that recognized the value of the property.”

Gibson Tech Center is located at 168 North Gibson Road in Henderson, Nevada.

MCA Realty was represented by Gary Stache, Anthony DeLorenzo, and Doug Mack at CBRE and Taber Thill and Patti Dillon at Colliers as the seller. The buyer, a private investor, was represented by Randy Sheinbein at NAI Capital. 

MCA Realty is a full-service real estate investment and management company specializing in commercial properties throughout the Western U.S. 

The goal of the company is to identify real estate investment opportunities and execute value creation strategies that maximize returns to its investors. 

Peter Cheng

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.

Jared Gordon

CONTACTS:

Lindsay Mackay /Lexi Astfalk     

Brower Group

(949) 955-7940

lmackay@brower-group.com

HFF announces sale of newly constructed self storage facility in Nashville, TN

Rendering of Music City Self Storage Facility, Nashville, TN

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Music City Self Storage, a newly constructed, 1,058-unit, state-of-the-art self storage facility in Nashville, Tennessee. 

Barbara Guffey

The HFF team marketed the property on behalf of the seller, Andover Management Group.  AMERCO Real Estate Company purchased the asset.

Completed in March 2018, Music City Self Storage includes 969 climate-controlled units and 89 temperature- and humidity-controlled wine storage lockers housed in one building. 

 The state-of-the-art building features a backup generator with full building power capacity, 24-hour HD surveillance system, covered parking and unloading areas and individual alarm units. 

Situated on 1.69 acres at 506 Fesslers Lane, Music City Self Storage is one mile southeast from downtown Nashville and on the I-24/I-40 corridor, a critical thoroughfare for the city. 

Jason Nettles

This highly visible location is seen by more than 175,000 vehicles a day.  More than 82,741 residents earning an average annual household income of $70,399 live within a three-mile radius of the facility.

The HFF investment advisory team representing the seller included managing director Barbara Guffey and senior managing director Jason Nettles.

“This was a great opportunity for the buyer to strategically add to their existing Nashville portfolio with a newly constructed and modernized Class A property in a high-growth market,” Guffey said.  

CONTACTS:

BARBARA GUFFEY

HFF Managing Director

(713) 852-3500

bguffey@hfflp.com

JASON NETTLES

TN Lic. #00319495

HFF Senior Managing Director

(404) 832-8460

jnettles@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF announces $278 million financing for Colony Square in Midtown Atlanta, GA

                                                                Rendering courtesy North American Properties
Colony Square, Midtown Atlanta, GA

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $278.4 million financing of Colony Square, a mixed-use office and retail asset located in the heart of Midtown Atlanta, Georgia.

Colby Mueck

 The iconic, 50-year-old destination represents the first mixed-use development in the Southeast and today, it is being reimagined into Midtown’s Living Room – an activated, arts-infused gathering place for the urban neighborhood’s 20,000 residents, 70,000 office workers, 25,000 college students and 6.1 million annual visitors to commune.

The HFF team worked on behalf of the borrower, Lionstone Investments and North American Properties, to secure the loan through Blackstone Mortgage Trust (NYSE: BXMT).  

Loan proceeds were used to retire the existing loan and fund future redevelopment plans for the asset.

Colony Square currently comprises two office buildings (Buildings 100 and 400) totaling 723,470 square feet of office space atop ground floor retail. 

Libby Malloy

The redevelopment of the landmark project, which is already underway, will include renovating the existing ground floor retail in Building 100 and 400.

 The street-level component will feature a collection of unique-to-market retail and chef-driven restaurants, such as Iselle Kitchen + Bar and its artfully prepared, West Coast-influenced Italian cuisine.

The next phase will include the construction of additional office and retail space.

Ed Coco

 The retail component is 79 percent preleased to the highly anticipated food hall and iPic, an experiential movie theater with nine auditoriums, all equipped with 4K digital cinema technology; farm-to-glass cocktails with “ninja-like” servers; and a restaurant by three-time James Beard award-winning Chef Sherry Yard.

 The final phase of construction will include a 100,000-square-foot office tower (Building 500) with 18,000 square feet of ground floor retail on the northwest corner of the site. 

With a highly programmed public realm, energized streets and a best-in-class merchandise mix, the reimagined Colony Square will feature more than one million square feet of premier office and retail space upon completion in late 2020.

The property’s location at the corner of 14^th and Peachtree Streets, known in Atlanta as “Main and Main,” is one of the most highly trafficked in the city, exposing the community to more than 25,000 cars and thousands of pedestrians daily. 

Additionally, Colony Square is located close to the Interstate 75/85 connector and is a short walk from the MARTA Arts Center station.

The HFF debt placement team representing the borrower included senior managing directors Colby Mueck and Ed Coco, associate Libby Malloy and analyst Laura Sellingsloh.

Laura Sellingsloh

Lionstone Investments is a data-analytics driven real estate investment firm that conceptualizes, analyzes, and executes national investment strategies using proprietary algorithms and advanced analytics to understand the changing ways people in America want to live and work—Places for Productive People.® 

Lionstone Investments is a registered investment adviser subsidiary of Columbia Management Investment Advisers, LLC. For more information, please visit lionstoneinvestments.com.

Headquartered in Cincinnati, with offices in Atlanta, Dallas and Fort Myers, North American Properties has developed 22 million square feet of commercial space and 19,000 residential units in 15 states and 67 cities. 

In the past three years, North American Properties has launched 36 projects totaling $1.1 billion in total capitalization.

CONTACTS:

COLBY MUECK

HFF Senior Managing Director

(713) 852-3500

cmueck@hfflp.com

ED COCO

HFF Senior Managing Director

(404) 832-8460

ecoco@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com