McKinley Successfully Disposes of Suburban Detroit Commercial AssetDecember 1, 2016
Walled Lake, Michigan - McKinley announced today the successful disposition of Benstein Business Park, a 48,000 sf light industrial park, consisting of four buildings. The property is located in Walled Lake, which is in the southern central portion of Commerce Township in Oakland County, close to major freeways and just off West Maple Road and Benstein Road.
"The sale of Benstein Business Park is the continuation of our strategic effort to dispose of internally owned retail, office and light industrial assets, and migrate those dollars into our core Multifamily business," offered Albert M. Berriz, McKinley's CEO, Co-Owner and Managing Member. "Our team is focused, and we have several other commercial dispositions in the pipeline at this time, and we expect to close those transactions in the near future," added Berriz
The disposition effort is also allowing McKinley to focus its highly talented commercial team in the workout and receivership of distressed office, retail and mixed use assets for third party clients, which continues to be a significant part of McKinley's real estate platform. McKinley today is a leading expert in the area of retail workouts, and one of the largest workout operators of distressed enclosed mall transactions in the US.