Arville Business Center is a 45,775 square foot incubator multi-tenant business park in the Southwest submarket of Las Vegas. The property was in the early stages of foreclosure when MCA acquired the business park in a short sale transaction. The project conforms with MCA’s strategy of acquiring functional incubator multi-tenant industrial properties at pricing levels significantly below replacement cost with strong current and future income characteristics.
Pama Lane is a 21,807 single tenant industrial building in the airport submarket of Las Vegas. MCA acquired the property via a bankruptcy procedure and was able to lease the building long term prior to close of escrow.
Rutland Distribution Center is a 114,000 square foot multi-tenant industrial park located in one of the most desirable industrial submarkets in Austin, TX. The property was acquired in a joint venture with HG Capital and was 85% occupied at close of escrow.
The Brookhollow Freeway Showroom Center is a four building multi-tenant industrial/retail showroom project totaling 87,609 square feet. The property fronts the 55 freeway and provides significant exposure to its diverse range of tenancies.
Business Park Drive is a 91,326 square foot two-tenant industrial building that MCA acquired in an off-market transaction in a very tight Temecula leasing market. The property was 47% occupied however MCA was able to negotiate a lease for the remainder of the building on a long term basis during the escrow period bringing the project to 100% occupancy.
51 Columbia is a 33,436 square foot R&D/Office building. MCA’s principals terminated the lease with the former owner of the property, and negotiated a new seven year lease for the entire building with a public software company, Smith Micro Software. The tenant spent in excess of $1 Million of their own capital on tenant improvements adding substantial value to the building. The intimate knowledge of this Tenant and their history in the property allowed MCA’s principals to negotiate favorable lease terms for the partnership.
Whitney Ranch Business Center is a 57,031 square foot incubator multi-tenant industrial/auto business park built in 2000 that fronts the freeway in Henderson, NV. MCA acquired the property in a short sale transaction that involved a prolonged negotiation with a special servicer. MCA’s acquisition price was over a million dollars below the CMBS loan tied to the property.
Grove Avenue Business Park is a 62,000 square foot incubator multi-tenant industrial park made up of twelve separate buildings on a major arterial near the Ontario airport. MCA was able to acquire the 100% occupied property at a price significantly below replacement cost. After renovating the exterior and common area and aggressively raising rents, this property was sold in January 2014 resulting in a very attractive return the partnership.
Harrison Drive is an 87,000 square foot incubator multi-tenant industrial project in the Airport submarket of Las Vegas. Prior to closing escrow, MCA was able to assign its position to an investor substantially above its contracted purchase price thereby earning a profit without ever taking ownership of the property.
1815 E. Carnegie is a 28,500 square foot industrial building acquired from a division of General Electric. The property had not been occupied for several years, and had substantial deferred maintenance. MCA’s principals renovated the entire property, and dramatically upgraded the façade with additional glazing, new landscaping, and demolition of functionally obsolete improvements. The property is currently 100% leased, and MCA’s principals divested of their interest in 2009.
MCA’s principals completed a substantial renovation of a 43,710 square foot industrial building. The property was abandoned by a prior Tenant, and required significant capital improvements. After the renovation, MCA’s principals leased the property to Auto Nation Corporation and subsequently sold the property to Auto Nation resulting in a substantial profit to investors over a four year period.
25230 Avenue Stanford is a 24,517 square foot single tenant industrial building that was acquired with minimal term remaining on the tenant’s lease. MCA’s principals were able to subsequently renew the lease with the tenant and significantly increase the property’s value. The property was later sold to an investor at a substantial profit to the investors.
MCA’s principals acquired a five acre flood detention basin in a mature south Orange County business park. During the escrow period, the partnership was able to negotiate with multiple governmental agencies to secure a legal abandonment of the retention basin This change in use resulted in a significant increase in value for the property. MCA’s ownership interest was sold in 2010.
MCA’s principals acquired an existing 77,000 square foot single tenant manufacturing building with excess land leased to Morgan Truck Body. Approximately three months after close of escrow, and a restructure of the in place lease, the property was resold resulting in a 65% internal rate of return to the investors
2740 N Grand Ave is a 15,570 square foot Bank branch / office building originally leased entirely to US Bank. Shortly after closing escrow, MCA’s principals were able to restructure and renew the lease with US Bank and another tenant resulting in an approximate $2,000,000.00 increase in value to the ownership.
Nordhoff Business Park is an 98,000 square foot incubator multi-tenant industrial project. MCA‘s principals acquired approximately 80% of the project at values below replacement cost. The Ownership entity continues to strategically sell and lease its remaining inventory in order to maximize value to its investors.
Arrow Route Business Plaza is a +/- 40,000 square foot incubator multi-tenant industrial project that MCA acquired from First Citizens Bank REO department. At close of escrow the property was 0% leased. Within the first year of its ownership, MCA was able to stabilize the property, finalize the Association and CC&Rs pursuant to the recorded condo map, and sell two of the fifteen units at double its allocated purchase price.