October 22, 2013
Atlanta, GA - McKinley Institutional Commercial Real Estate is pleased to announce the successful disposition of Gwinnet Place Mall located in Duluth, Georgia. The Mall includes a list of national tenants such as Macys, Abercrombie and Fitch, Bath and Body Works, Zales and Victorias Secret among others, and was placed under management with McKinley in June of 2012. The large, regional shopping mall includes1,283,133squarefeet and at the time of construction 16 years ago was the preferred shopping destination in the region.
The McKinley Institutional Commercial Real Estate team was able to reposition the asset by delivering exceptional results, including a reduction in expenses, stabilization of the rent roll, and an improvement of the overall appearance of the property which enabled the successful sale on behalf of a valued client.
I am very pleased to add the Gwinnett Place Mall in suburban Atlanta to our considerable track record of repositioning enclosed regional malls, states Matthew D. Mason, Managing Director, McKinley Institutional Commercial Real Estate. This latest success in the Southeast nicely complements our previously completed projects throughout the Midwest and Mid-Atlantic regions, shared Mason.
October 20, 2013
ERIE, PA - McKinley Institutional Commercial Real Estate has been appointed as Receiver for the Giant Eagle Plaza, a 90,861 square foot grocery-anchored retail property in Erie, PA by the Court of Common Pleas of Erie County, Pennsylvania.
The former Giant Eagle grocery store is over 70,000 square feet and has been vacant since June of 2012. The remaining 20,000 square feet of retail is fully occupied. Tenants include Little Caesars, Verizon Wireless and PNC Bank. The retail market in the Harborcreek Township of Erie, Pennsylvaniahas experienced recent redevelopment as a result of various township incentives.
We are pleased to add this property to our efforts in Pennsylvania, shared Matthew D. Mason, Senior Vice President and Managing Director, Real Estate, McKinley. We appreciate the opportunity to once again utilize our expertise and track record in this market, shared Mason.
October 15, 2013
Brown Deer, WI McKinleys Institutional Commercial Real Estate has completed another successful workout of a distressed office building. The property, Brown Deer Office Building, is a 55,551 square foot office building in Brown Deer, Wisconsin. McKinley was appointed as Receiver for the property in July 2012 and remained in place as Receiver until the asset was sold to a private investor at a Sheriffs Sale.
"We are very pleased to add another successful chapter to the McKinley Institutional Commercial Real Estate track record," commented Matthew Mason, Senior Vice President and Managing Director of Real Estate at McKinley.
October 15, 2013
South Lyon, MI - McKinley Institutional Commercial Real Estate has been appointed Manager of Huntington Square on behalf of our valued client. This 60,597 square foot retail asset is located in South Lyon, Michigan. The property is positioned on Pontiac Trail, a major Oakland County thoroughfare, just North of 10 Mile Road. South Lyon is located in the southwestern corner of Oakland County and is minutes from I-96 and US-23. Conveniently located near major employers, shopping and international airports, South Lyon offers small town charm with big city amenities. With this management assignment, the McKinley Institutional Commercial Real Estate groups total number of managed commercial assets in Michigan climbs to 27.
We are pleased to add this property to our numerous efforts in Michigan, commented Matthew D. Mason, Senior Vice President and Managing Director of Real Estate at McKinley. We appreciate the opportunity to once again utilize our expertise and track record in this market, one that we know well and in which we have extensive experience, shared Mason.