February 17, 2016
McKinley is pleased to announce that it has been appointed Receiver by the Dickinson County Circuit Court for Iron Mountain Plaza, a 171,462 square foot retail shopping center in Iron Mountain, Michigan. This regional power center is home to tenants including Dunham’s, Goodwill, and Tractor Supply Co. This represents the 44th workout in the State of Michigan for the Institutional Commercial Real Estate team.
“Our Institutional Commercial Real Estate team has a proven track record and a keen understanding of our fiduciary to the Court” stated Matthew Mason, Managing Director and Partner. “We are able to quickly stabilize an asset, manage operations and protect the property on behalf of all parties” he added.
February 11, 2016
MLive.com features McKinley's newest apartment development, State Street Village, in an article about filling the void between low and high end apartments in Ann Arbor. CLICK HERE
February 11, 2016
McKinley's CEO, Albert M. Berriz, was honored to have been a guest on the Lifetime Cashflow Podcast with Rod Khleif. To hear the whole podcast click here.
February 10, 2016
Bisnow Special Report features McKinley's CEO, Albert M. Berriz, as one of the country's most successful Hispanic real estate titans.
February 5, 2016
McKinley recently completed the disposition of two large assets in Illinois on behalf of its institutional clients. Town Center Promenade is a 75,000 sf shopping center in Deer Park, IL. McKinley was appointed Receiver in March 2013 and post-foreclosure was hired to continue as the real estate advisor and property manager. During its tenure, McKinley completed a 10-year renewal with the anchor tenant, Dicks Sporting Good. The property management team actively engaged the tenants to eliminate all delinquency and to position the asset for sale. Through its prudent management and assertive leasing, McKinley increased the value of the center 33% in two years which led to a successful sale.
McKinley recently disposed of Raddant Road Industrial, a 54,569 sf industrial building in Batavia, IL. McKinley was appointed as Receiver August 2014 and continued to manage post-foreclosure. Raddant required significant exterior upgrades to the building to the parking areas. McKinley focused on reducing expenses and driving occupancy to 100%, which resulted in a two-fold increase in Net Operating Income in less than two years.
“Our Institutional Commercial Real Estate team has a keen understanding of the Receivership process,” stated Matthew Mason, Managing Director and Partner. “We focus on quickly improving NOI and maximizing occupancy to create the most value in the shorter possible time, which leads to great results for our clients,” he added.
“Matt and his team continue to defy the market, and to find creative opportunities to drive value,” said Kenneth P. Polsinelli, Chief Real Estate Officer. “Our clients appreciate their focus on quick results and on their passion for customer service,” he also offered.
February 2, 2016
McKinley's own CEO, Albert M. Berriz, writes an article for the Avanath newsletter about profitability in affordable housing. Click here
February 1, 2016
McKinley is pleased to announce that it has signed TD Ameritrade to a long-term lease at McKinley Towne Centre. TD Ameritrade will lease almost 25,000 sf at McKinley Towne Centre as they occupy the entire fifth floor joining Llamasoft, Bodman and Ann Arbor SPARK. Beginning May 1st, TD Ameritrade will also join downtown’s growing tech community in the blocks stretching from the University of Michigan’s diag down East Liberty Street to South Division. McKinley Towne Centre is a mixed use development offering 105,000 sf of class A, high-tech office space and 20,000 sf of retail space at the nexus of the University of Michigan and downtown Ann Arbor.
“We received an unprecedented amount of interest when we announced that we had 85,000 sf of office space available,” said Kenneth P. Polsinelli, Chief Real Estate Officer. “McKinley Towne Centre now has less than 4,200 sf of space remaining, and the speed of re-leasing the building is a testament to the significant investments that we have made and its key location at the intersection of State St. and Main St.” he added.
“When TD Ameritrade opened their office in town two years ago, they expressed a desire to be a part of the Silicon Valley of the Midwest, and being at McKinley Towne Centre helps them do just that,” stated Albert M. Berriz, CEO. “We believe that they will make a meaningful contribution to the Liberty St tech corridor,” he further offered. “TD Ameritrade offers cutting-edge technology and innovation for their clients, and we are excited about their long-term commitment to Ann Arbor’s downtown.”
February 1, 2016
MLive.com features McKinley in an article about submitted plans for its next apartment complex. Click here
January 28, 2016
Crain's Detroit Business features McKinley in an article about the newest lease with LLamasoft at the McKinley Towne Centre. Click here
January 26, 2016
McKinley is pleased to announce that it has signed LLamasoft to a long-term lease at McKinley Towne Centre. LLamasoft will occupy almost 60,000 square feet at McKinley Towne Centre including the entire second and third floors joining Bodman and Ann Arbor SPARK. Beginning May 1, LLamasoft will join downtown’s growing tech community in the blocks stretching from the University of Michigan’s Diag down East Liberty Street to South Division. Together, companies such as Menlo Innovations, Barracuda Networks and PRIME Research employ hundreds in that area. McKinley Towne Centre is a mixed use development offering 105,000 square feet of Class A, high-tech office space and 20,000 square feet of retail space at the nexus of the University of Michigan and downtown Ann Arbor.
“We talked with several companies about the possibility of moving into McKinley Towne Centre,” stated Albert M. Berriz, CEO of McKinley. “We spent time focusing on people that we thought would make an impact downtown, that would be committed to Ann Arbor and that would contribute to the community,” he further offered. “LLamasoft is the global leader in software for supply chain management, and while they have been rapidly expanding globally, they are significantly expanding in Ann Arbor and their key executives are committed to Ann Arbor.”
“LLamasoft continues to grow at a rapid pace, and we also need a world-class environment to support our team members” said Donald A. Hicks, CEO and President of LLamasoft. “McKinley Towne Centre is the highest quality office building in the downtown core, and it gives our employees the opportunity to enjoy all that Ann Arbor has to offer. McKinley is a leading corporate citizen as well, and we are excited that our LLamasoft team will have the space they need as we continue our record-setting growth.”
Founded in 1968 and headquartered in Ann Arbor, McKinley is a leading owner and operator of multifamily and commercial real estate. McKinley owns and manages more than 55 million square feet of commercial and residential real estate throughout 34 states. McKinley specializes in solving complex real estate problems for its own portfolio, as well as for a select clientele of institutional investors and partners.
LLamasoft supply chain optimization software enables companies across a wide range of industries to model, optimize and simulate their supply chain network, leading to major improvements in cost, service, sustainability and risk mitigation. Headquartered in Ann Arbor, Michigan, LLamasoft is a leader in supply chain excellence and innovation, advancing technology focused on continuous improvement of enterprise supply chains for the world’s largest organizations.