News


October 8, 2007

Source: The Ann Arbor News

Date: September 19, 2007

McKinley maps growth

\New construction would link downtown properties

BY STEFANIE MURRAY

News Business Reporter

The McKinley Towne Centre will expand its downtown footprint from Division Street to the Michigan Theater building, under plans unveiled Tuesday night by the Ann Arbor-based real estate company McKinley Inc.

As part of the plan, McKinley says it has an option to buy the building that houses Orchid Lane and Encore Recordings at 417-419 E. Liberty St. in 2008, although current owner Ruth Fitzgerald declined to confirm any impending sale.

McKinley plans to demolish that building, as well as the empty bank building it owns that is connected to the city-owned Liberty Square parking structure.

In its place, McKinley wants to build two new, two-story facilities with matching brick facades that will cross the alley and visually connect the building that now houses AT&T and Salsarita's Fresh Cantina with the Michigan Theater building. The buildings will house office space and a mix of a half-dozen soft-goods retailers and restaurant tenants.

"This is going to tremendously revitalize the area,'' said McKinley's chief executive officer, Albert Berriz.

Berriz and McKinley's Frances Todoro-Hargreaves presented the plan to the Ann Arbor Planning Commission on Tuesday evening as part of a request to rezone the bank building at 505 E. Liberty St. and its sister Liberty Square property at 500 E. Washington St. as a planned unit development district, and approve its site plan for the new building where the bank was. McKinley owns both buildings.

The commission tabled its decision on the rezoning and site plan, due to a legal question relating to the parking structure and aesthetic issues. The request will be rescheduled for action again, likely in two weeks.

Todoro-Hargreaves said the company will begin demolition of the bank building and construction of a new, 25,500-square-foot retail and office building in its place immediately, if final approvals are received. That building will be built with a "super structure'' base, Berriz said, that will allow floors to be added on top of the building in the future.

Peter Dale, who owns Encore Recordings, said he has not heard anything from his landlord about plans to sell the building. But if a sale happens, Dale hopes McKinley will buy him out of his lease and help pay moving expenses. His space has been home to a record store since the 1960s.

"I don't have any plans to move now. I have a lease and as far as I'm concerned, I'm here for another four years,'' Dale said. "It would be very difficult to find another place to rent that I could afford with the right amount of floor space.''

The Towne Centre concept was born two years ago when McKinley bought the building at 401 E. Liberty St., the former home of TCF Bank's Michigan headquarters. The bank moved its offices to Livonia last year.

McKinley has since renovated the structure and its facade, added an entrance off South Division Street and built the building that now houses Salsarita's, which used to be a parking lot.

"This was a huge chunk of space that no one wanted to walk by,'' said Berriz.

Google Inc., the Bodman law firm and Ann Arbor Spark are located in the Towne Centre today, along with a TCF Bank branch, Bar Louie, Salsarita's and AT&T. Berriz estimates McKinley's total investment in the Towne Centre at more than $100 million.

Also in the vicinity of the Towne Centre is the planned Ann Arbor Hotel and 4 Eleven Lofts. The hotel, on the southwest corner of Division and Washington streets, was previously the site for Metro 202, which McKinley planned to develop as apartments. The hotel is going through the site plan approval process with the city.

The 4 Eleven Lofts development is a Joseph Freed and Associates apartment project that was previously know as Citi Centre Lofts and Washington Terrace.

Contact Stefanie Murray at smurray@annarbornews.com or 734-994-6932.

Note: This story has been adapted from material provided by The Ann Arbor News.

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September 25, 2007

September 24, 2007

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley, a real estate investment firm headquartered in Ann Arbor, Michigan, is pleased to announce the successful disposition on behalf of our client Capmark, Inc. of Piqua Plaza a 138,742 shopping center in Piqua, Ohio.

McKinley took over management of Piqua Plaza in May of 2006 and provided property management expertise including property upkeep, lease renewals and collection of delinquent rent on behalf of our long standing client.

This disposition is a recent example of how McKinley aggressively solves real estate problems for our clients. From takeover to disposition, we enjoy exceeding expectations on a regular basis.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $1.7 billion in assets in 103 properties for its own account and for select clientele. This includes 17,223 apartments and 5 million square feet of commercial space located in 9 states. Albert M. Berriz serves as Chief Executive Officer for McKinley, headquartered in Ann Arbor, Michigan. McKinley employs 717 full-time employees nationwide.

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September 25, 2007

September 21, 2007

Contact: Mary S. Williams

734-769-8520 ext/ 244

For Immediate Release

McKinley is pleased to announce the appointment of April Davis as National Leasing Director. Ms. Davis joins McKinley following a post with Centro (formerly New Plan Excel Realty Trust), the fifth largest shopping center owner in the United States

We are very excited about the addition of April to the McKinley team, states Matthew D. Mason, Vice-President and Director, Sales and Acquisitions. Aprils unique strengths with regard to both leasing and management will be of tremendous benefit to McKinley as we continue to grow our owned and managed portfolios.

During her time at Centro, Ms. Davis was responsible for the marketing and leasing of 11 shopping centers in Michigan and Indiana. She also has extensive real estate experience in lease drafting and negotiations as well as tenant build out and delivery.

April is a graduate of the University of Houston and a Registered Land Professional (RLP). In her new role at McKinley Ms. Davis will have oversight and responsibility for the leasing efforts of the entire commercial portfolio.Ms. Davis arrival at McKinley will allow the commercial department to continue to broaden and deepen its reach both in terms of owned and managed portfolios.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $1.7 billion in assets in 103 properties for its own account and for select clientele. This includes 17,223 apartments and 5 million square feet of commercial space located in 9 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 717 full-time employees nationwide.

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September 12, 2007

September 13th, 2007

For Immediate Release

McKinley Announces the Addition of Ichiban to the Glencoe Crossing Shopping Center

Ann Arbor, MI- McKinley is proud to announce the recent addition of Ichiban to its Glencoe Crossing Shopping Center, located at 4641 Washtenaw Ave. in Ann Arbor, Michigan. Ichiban will join retailers such as Starbucks, Quiznos, Dollar General and Ross Medical, among others.

Ichiban is a Japanese steak house and sushi bar. The name Ichiban means number one. Their number one goal is to make your dining experience memorable and enjoyable. The highest quality food, friendly service, cleanliness and unique atmosphere truly reflect the name Ichiban. In the Teppanyaki dining room where their knife-flashing chefs prepare your meal at the table, the natural flavours of fresh ingredients, combined with the unique method of cooking, assure their customers health conscious cooking, without sacrificing taste, flavour, or quality. In their traditional dining room, popular Japanese dishes such as Tempura and Udon are served, or try their unique Sushi Bar. For additional information call 646-752-3105.

McKinley, founded in 1968, is a well-respected real estate investment firm that owns and operates $1.7 billion in assets. For its own account and select clientele, it manages 103 properties, including 17,223 apartments and 5 million square feet of commercial space located in nine states nationwide. Albert M. Berriz serves as Chief Executive Officer of McKinley, headquartered in Ann Arbor, Michigan, and employs 717 full-time workers nationwide.

Questions may be directed to Elaine Medrow at emedrow@mckinley.com.

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August 21, 2007

August 21, 2007

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release


On August 10, 2007, McKinley was appointed receiver by the Jefferson Circuit Court, Commonwealth of Kentucky for River Oak, an apartment community located in Louisville, Kentucky. It has a premiere location near the renowned University of Louisville campus, a state supported research university in Kentucky's largest metropolitan area.

River Oak, a 268 unit apartment community enjoys lush landscaping, community center with billiard tables, indoor racquetball courts, a fitness center, beautiful outdoor pool with leisure deck and tennis courts and is located just minutes from downtown Louisville.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $1.7 billion in assets in 103 properties for its own account and for select clientele. This includes 17,223 apartments and 5 million square feet of commercial space located in 9 states. Albert M. Berriz serves as Chief Executive Officer for McKinley, headquartered in Ann Arbor, Michigan. McKinley employs 717 full-time employees nationwide

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August 21, 2007



August 21, 2007


Contact: Mary S. Williams

734-769-8520 ext. 244


For Immediate Release


McKinley, Inc. is pleased to announce on behalf of our client Lehman Brothers, Inc. the successful disposition of Candlewyck Apartments, a 487-unit apartment community in Kalamazoo, Michigan.

During McKinleys 24 month tenure, occupancy was increased, rents were increased and significant capital improvements were made to increase value. These successful efforts also included development and execution of a strategic marketing plan that materially improved the property.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $1.7 billion in assets in 103 properties for its own account and for select clientele. This includes 17,223 apartments and 5 million square feet of commercial space located in 9 states. Albert M. Berriz serves as Chief Executive Officer for McKinley, headquartered in Ann Arbor, Michigan. McKinley employs 717 full-time employees nationwide.


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