MCA Realty Acquires Five-Building Value-Add Industrial Asset in Las Vegas Submarket

Five-Building Industrial Property, 4610-4650 Arville Street,
 Las Vegas, NV

Tyler Mattox

LAS VEGAS, NV -– MCA Realty, a full service real estate investment and management company based in Orange County, California, has acquired a five-building, 83,750 square-foot, value-add industrial property in Las Vegas, Nevada. The firm acquired the property off-market from a private seller.

This acquisition comes on the heels of the firm’s recent sale of a 45,437 square-foot industrial asset, 4440 Arville Street, which is located on the same street as this new acquisition, according to Tyler Mattox, Principal at MCA Realty.

“We continue to find value throughout the Las Vegas metro, and have been extremely active in the region since 2012,” says Mattox.

“We like industrial properties adjacent to the strip, which continues to be a very unique demand generator. The success we had with the sale of 4440 Arville Street put us in a position to re-invest in a quality asset on the same street and in a market that we feel will continue to perform.”

Rob Lujan

Mattox explains that MCA acquired 4440 Arville Street in 2013, implemented a series of capital improvements and sold the property five years later. MCA plans to apply a similar capital improvement strategy with this asset. The property is currently 100-percent leased, however the rents in place are considerably below the current competition.

MCA Realty plans to completely replace the roofs, repaint the building’s exterior, improve the landscaping and signage, and update the interior units as leases roll, according to Mattox.

“We feel that these capital improvements will immediately increase the value of the asset and create an opportunity to bring rents up to market value,” explains Mattox who notes that current rents are between 20 and 50 percent below today’s market. 

Jason Simon

“Our continued strategy is to acquire well-located assets that provide opportunities for value creation,” says Mattox. “By updating the property, adjusting rents to market levels, and capitalizing on the ongoing recovery throughout Las Vegas, we plan to increase the overall long-term value of the asset.”

            The property is located at 4610-4650 Arville Street in Las Vegas, Nevada.

             Rob Lujan, Jason Simon and Xavier Wasiak of JLL represented MCA Realty as the buyer in this transaction.

 
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. 

Xavier Wasiak

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.

For more information, please contact:

Jordan Kruk · Associate Account Executive 
O 949 955 7940 

Brower Group, Inc.
The Smart Agency™ for Smart Clients who want Smart Work
895 Dove Street, Third Floor · Newport Beach, CA 92660

Email · Website · Facebook · Twitter · Instagram

www.mca-realty.com.

For Tenants with Unusual Space Needs, Former Mill Offers Big, Flexible Space with Room to Grow in Pepperell, MA

Pepperell Place, Pepperell, MA

PEPPERELL, MA -–  Where other investors and developers saw the 100 year-old, 190,000 square-foot mill building at 20 Mill Street in Pepperell, Mass., as a dinosaur that had outlived its usefulness, Eric Shapiro and his team at The Lexvest Group envisioned a business mecca  with enormous potential set on 10 rustic acres.

 They dubbed it the Pepperell Place Business Center ((www.pepperellplace.com).

Several tenants, some with unusual or flexible space needs, have leased space here in the heart of Massachusetts’ historic and bucolic Nashoba Valley, near the interchange of Route I-495 and state Route 2.

Eric Shapiro

Shapiro says, “For many business owners, it’s no longer just location, location, location. They seek building amenities, communication connections (IT infrastructure/fiber optics, high bandwidth internet), reasonable rent,  electric capacity, and room to grow. 

"It’s not easy to find all that under one roof for manufacturing, industrial and office users. But I think we have it all  right here.”

When Ana Lockwood, General Manager of All Things Jeep, (https://www.allthingsjeep.com/ ), one of the largest providers of gifts, accessories and memorabilia for the Jeep ® and off-road market, needed to find a home for the company after its relocation from California, after scouting the region, she found the ideal location at Pepperell Place. At 23,000 square feet, it’s one of the bigger leases in the area in recent years. 

“We had to consider numerous key factors before choosing headquarters space,” says Lockwood. “Depending on the season, our staff ranges from 15 to 45 so we need room to accommodate additional workers, warehousing and shipping.

 "We needed flexible lease terms so we can expand as the business grows. We had to be convenient to attract workers. Pepperell is an easy drive from Lowell and Nashua with a million people in the area.”

Ana Lockwood

Perhaps most important, Lockwood says, was selecting the right owner/landlord.

 She appreciates the approach of an old acquaintance Eric Shapiro: 

 “He does whatever he can to help the tenants succeed. He says, ‘If we’re successful, the tenants will be, too.’  

"Breaking the landlord mold, Eric and his team are pleasantly and promptly responsive – from a leaky faucet to snowplowing -- which gives us peace of mind.”

Lockwood recalls that not only did the Lexvest team complete a promised built-to-suit space, but included in the build-out state-of-the-art infrastructure such as data cables and network – “better than you find in new buildings,” Ana says. “The buildout was quite reasonable, too. Another plus: Because of Lexvest and Eric’s longstanding reputation, buildout work is fast-racked, saving time and money.”

Lexvest included common areas for tenants including cafeteria, kitchen, workout room, showers and a conference room. Other attractive aspects of the building include loading docks. renovated bathrooms and shower facilities, a new roof, and upgraded HVAC systems. 

Another unique, large space tenants is CELLTREAT, maker of cell culture and liquid handling products, which leased 27,000 SF. The company’s Rich Happell says, “When we outgrew our previous space at Eric’s building, Phoenix Park in Shirley, it was a natural to go with Lexvest again.”

And 1A Auto (www.1Aauto.com ), one of the country's largest online sellers of auto parts, signed a lease for 17,000 square feet at Pepperell Place and is bringing 20 jobs to town. CEO Rick Green notes, “During a growth period, we consolidated at our Westford headquarters, but our dramatic success and need for unique space has brought us back. The buildout accommodates our state-of-the-art Research and Development division. 

Rick Green

Other tenants choosing Pepperell Place include Bio-Techne, formerly called Bionostics, which makes calibration and quality-control materials for health-care laboratories. 

When it outgrew its space in Devens, it opened a 10,000-square-foot secondary warehouse at Pepperell Place in 2016. 

Illustrative of the variety of businesses that found ideal space at Pepperell Place are these companies: East Coast Vinyl Decals, a decal, apparel and customized gift business; Fitness Your Weigh, a fitness studio; Arch Fitness, a group fitness center; and Inspire & Design, interior design studio.

Shapiro says people who aren’t familiar with the area are surprised at how convenient Pepperell Place’s location is: There are 15 hotels within 10 miles; nearby MBTA Commuter Rail to Boston with stations in Shirley and Ayer; 10 miles to Devens/Ayer; 10 miles to Nashua, NH; a 20-minute drive to Lowell, 30 minutes to Fitchburg; 25-minutes to Nashoba Valley Ski Area, and freight rail links connecting to Boston 35 miles away.

For info about leasing at Pepperell Place, visit www.PepperellPlace.com, or contact Chip Detwiller at 781-862-4400 / cdetwiller@lexvest.com.

For more information, please contact:

Stan Hurwitz

stanhurwitz@gmail.com
(For The Lexvest Group)

508-269-0570    /  781-344-4375

Native Realty Completes 60,000 Square Feet in Transactions Over the Past 90 Days in Broward County, FL

Jaime Sturgis

FORT LAUDERDALE, FL –– Native Realty, the pioneering Fort Lauderdale commercial real estate firm, has enjoyed a blistering stretch of deal making over the past 90 days. During that span, the firm has completed 60,000 square feet in lease transactions throughout Broward County.

Among the most notable recent transactions arranged by Native Realty were General Provision’s long-term lease for a brand-new location in downtown Fort Lauderdale and JEY Hospitality’s 10-year deal for an entertainment/dining venue in Fort Lauderdale’s Music & Arts South of Sunrise (M.A.S.S.) District within the popular Flagler Village neighborhood.

 For the General Provision transaction, Sturgis represented the homegrown co-working space operator in the five-year lease for more than 6,000 square feet located at 300 SW First Ave. – next to the mixed-use X Las Olas project.

Sturgis represented landlord RWL 4 Inc. in the JEY Hospitality lease. The 810 NE Fourth Ave. property, which includes 3,247 square feet of converted industrial buildings that were most recently occupied by a bar named Jump The Shark.

Amanda Roy

Native Realty also arranged leases totaling 35,590 square feet with auto companies Mennet Cars LLC and Auto Beast LLC at 735 W. Broward Blvd. Sturgis represented landlord Best Buy Repos, Inc. The firm’s Amanda Roy represented Auto Beast LLC.

Other recent deals handled by the firm include:

·         A 2,159-square-foot lease with Fitonomy Inc. at 2821 SW 23rd Terrace in Fort Lauderdale. Sturgis represented landlord 84 Business Center, LLC, while the firm’s Sara Dorfman represented the tenant. 

           Native Realty also represented both sides to lease the last available suite in this project – totaling 2,040 square feet - to Browning Productions and Entertainment. Browning is about to be acquired by a larger publically traded company. Native Realty’s listing at 2821 SW 23rd Terrace is now 100 percent leased.       

 

Sara Dorfman

·         Two leases totaling 2,000 square feet within Flagler Uptown (750 N. Flagler Drive in Flagler Village). This center is now 100 percent leased. Sturgis represented Form Hair Studio in one transaction, while Roy represented Mokshatopia Hookha House in the other.

·         Sturgis represented both sides in Zebra Champagne’s 625-square-foot lease at 746 NE Third Ave. within the M.A.S.S. District.

·         Jaime Sturgis just completed two leases totaling 1,400 square feet at The Hive, one with popular The Wander Shop and the other with a new Poke Restaurant (Poke LoLo) from the chef formerly behind the popular Phat Boy Sushi restaurants. This center is now 100 percent leased. Sturgis represented the landlord.

·         Sturgis and Roy represented the landlord in a 2,232-square-foot lease with The Way Home Treatment Center at 1100 W. Oakland Park Blvd. in Wilton Manors.

The Hive Compex, Fort Lauderdale, FL

·         Sturgis represented both sides in a 3,000-square-foot lease with renowned international Jiu-Jitsu school Renzo Gracie Academy at 535 NE 13th Street.

·         Garden Box, a live music operator, signed a 1,452-square-foot lease at 545 NE 13th Street. Sturgis represented the landlord, while Roy represented the tenant.

“It is exciting to continue expanding our role in curating emerging neighborhoods within Fort Lauderdale’s urban core and throughout Broward County,” Sturgis said.

 “Additionally, we completed a significant deal in the heart of downtown Fort Lauderdale with General Provision’s new location and a number of new tenants to Flagler Village and 13th Street. We look forward to keeping the momentum going throughout 2018 and beyond.”

A Fort Lauderdale native, Sturgis has been a driving force in identifying the city’s urban neighborhoods with untapped potential and generating leasing and investment sales activity in those emerging markets. He has dominated the Flagler Village neighborhood, completing 500,000 square feet in transactions in the last three years to help the now-popular area become a true live, work and play destination.

Native Realty is headquartered in Flagler Village’s the Hive – a popular complex with retail, restaurants, offices, a vintage arcade bar and yoga studio.

Integra Realty Resources, U.S.A. Parking and many more. Native Realty is headquartered in the heart of Fort Lauderdale’s Flagler Village at 908 N. Flagler Drive. 

For more information, please contact:

Eric Kalis

Account Director, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 www.nativere.com. 

HFF announces $30.359 Million recapitalization of student housing property in Athens, GA

David B. Keller

INDIANAPOLIS, IN –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $30.359 million recapitalization of River Club Apartments and River Club Townhomes, two student housing communities operated as a single property, which serve the University of Georgia (UGA) in Athens, Georgia.  The properties total 366 units and 1,134 beds.

The HFF team worked on behalf of the borrower, an entity managed and controlled by The Scion Group, to secure the seven-year, floating-rate loan through Freddie Mac’s CME Program.  

The securitized loan replaced existing Fannie Mae financing, and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

River Club Apartments comprises two- to four-bedroom units with private bathrooms, hardwood-style plank flooring and flat panel TVs.  The property is situated on 93 forested acres at 1005 Macon Highway along the Oconee River. 

Located adjacent to the Apartments, River Club Townhomes is a 32-acre, gated property, which offers three- and four-bedroom floorplans within two-story townhome units. 

Mark Sixour

Community amenities at both properties include swimming pools; volleyball, tennis and basketball courts; fitness centers; computer labs; car wash stations; private tanning salons; and on-site bus stops with service to UGA. 

The properties were 100 percent occupied for the 2017 to 2018 school year, and are within three miles of campus.

The HFF debt placement team representing the borrower included senior managing directors David B. Keller and Mark Sixour.

For more information, please contact:

OLIVIA N. HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

Rhodes+Brito Architects Appoints Michelle Tatom Director of Business Development in Orlando, FL

Michelle Tatom

ORLANDO, Fla. --- Rhodes+Brito Architects in Orlando has appointed Michelle Tatom Director of Business Development for the firm. 

Ruffin Rhodes, co-founder and partner at Rhodes+Brito Architects said Tatom has 20 years of experience in directing business development activities in partnership with local programs for several aviation authorities, ensuring federal compliance, contract compliance and contract administration.

Tatom seamlessly carried out those duties in management positions she held at the Metropolitan Nashville and Metropolitan Knoxville Airport Authorities.

  More recently, as Small Business Development Director at GOAA, Tatom was responsible for overseeing small business activities and programs supported by the aviation authority in partnership with the Small Business Administration (SBA), Disadvantaged Business Enterprises (DBE) and other local programs for small businesses.

Ruffin Rhodes

In her new role at Rhodes+Brito, Tatom says her goal is to take the company to the next level of financial growth, portfolio growth, and to broaden its geographic reach into other markets beyond Central Florida.  

“We are thrilled that Michelle has joined our team. Her reputation speaks for itself and we look forward to seeing the positive impact her knowledge and experience has on our growth,” said Rhodes.

For more information, please contact:

Ruffin Rhodes, Rhodes+Brito Architects, 407-648-7288 ruffin@rbarchitects.com

Maximiano Brito, Rhodes+Brito Architects, 407-648-7288 max@rbarchitects.com

Beth Payan, Larry Vershel Communications 407-644-4142 beth@larryvershel.com

Grupo Velas Introduces Exclusive Residential Development Off Sea of Cortez in Gulf of California

Two-star Michelin Chef Sidney Schutte

GULF OF CALIFORNIA -- May 23, 2018 -- An exclusive residential development from Grupo Velas, Velamar Residences by Grand Velas Los Cabos is slated for completion in November 2018.

 It features 40 Smart Home-condos all with water views of the Sea of Cortez, a lushly landscaped swimming pool and garden area, gated entry, and covered parking.

All units, ranging in size from 2324 sq. ft. to 3840 sq. ft, offer three bedrooms and three bathrooms, high ceilings, marble floors, spacious terrace, and fully-equipped kitchens with granite countertops and stainless-steel appliances.

Upon purchase, owners can select the finishes of the closets and baths before installation. A highlight of ownership, owners have access to enjoy the facilities of the Grand Velas Los Cabos, ranked No. 1 in the destination on TripAdvisor, through a custom membership.

 Privileges include valet parking; business center; three infinity pools, including an oceanfront adults-only Serenity Pool; beach; Technogym Fitness Center with personal trainers, exercise programs, yoga, Pilates and meditation; select spa and wellness programs; kids’ and teens’ club; Wi-Fi; and more, all complimentary at the resort.

 Residents may dine at Grand Velas Los Cabos’ five gourmet restaurants led by top chefs, including two star Michelin chef Sidney Schutte, four bars and coffee shop for an additional cost.

Pool side, Grand Velas Los Cabos overlooking Sea of Cortez

Velamar is located 5 minutes from the beach on an elevated stretch inland, between Cabo San Lucas and San Jose del Cabo.

Presale pricing starts at $410,000 USD. Furnishing packages are available at extra cost. A rental pool for condo owners is available. For more information, please call 1.888.417.9070, email contact@grupovelas.com.mx or visit http://velamarloscabos.com/.

For more information, please contact:

Megan (Sterritt) Taylor
KWE Partners
1581 Brickell Avenue, Suite 1103  |  Miami, FL 33129
t.  786 247 4812 | sterritt@kwepr.com 
www.kwepr.com