McKinley Institutional Commercial Real Estate Announces Successful Disposition of Northeast Corporate CenterFebruary 11, 2014
ANN ARBOR, MI – McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful disposition of Northeast Corporate Center located in Ann Arbor, MI on behalf of our valued client. McKinley ICRE began the assignment on this 223,996 square foot asset in 2009 and during its time managing the property executed 236,137 square feet of new leases and renewals in excess of $14 Million. A successful tax appeal was also completed with additional savings of more than $850,000. Extensive capital improvements were undertaken in excess of $2 Million allowing the McKinley Institutional Commercial Real Estate team to utilize its expertise and experience to transform the property and create value for all stakeholders.
“I am very proud of our team and all that they accomplished managing this asset,” shared Matthew D. Mason, Managing Director, Institutional Commercial Real Estate. “In classic style, the team was able to deploy all of its expertise during lease negotiations, completing capital improvements and working through a successful tax appeal process to create value for all stakeholders,” stated Mason.