June 23, 2016
McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the takeover of The Riley Retail Center in Holland, Michigan. McKinley has been appointed Manager of this 108,001 square foot property, which is home to such tenants as Dick’s Sporting Goods, Home Goods, Five Below, Maurices, and Rue 21. This asset is located along the main north/south expressway of US 31 near Westshore Mall, Target, Michaels, Best Buy, WalMart, Sam’s Club, and Meijer. The Riley Center is 92% occupied and was built in 2014.
"With the addition of the Riley Center, McKinley manages over 1,600,000 square feet throughout the state of Michigan. McKinley’s commercial team is perfectly positioned to handle this important asset in Holland," shared Lauren Leach, Director, Commercial Portfolio Management – Institutional Commercial Real Estate
"Given McKinley's successful history of managing complex assets in West Michigan, we are excited to lend our expertise to the Riley Retail Center," added Matt Mason, Senior Vice President - Commercial Real Estate & Special Advisor to the CEO.
June 20, 2016
McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce a comprehensive interior and exterior renovation of Algonquin Commons located in Algonquin, Illinois. McKinley was appointed manager of this 580,000 sf retail center in March, 2013. The property is currently preparing the space for the new Nordstrom Rack tenancy coming in fall 2016, as well as welcoming Art Van Furniture to the center this summer, increasing the overall occupancy to 86%. Finally, a $14MM concrete and asphalt replacement project will be completed this summer. The first phase of which was completed in 2015.
“Over the past three years, McKinley cured many deferred maintenance items at Algonquin Commons. Currently, the property is in phase two of a multi-year project to replace and repair concrete walks and parking areas that will bring a fresh new look to the visitor-friendly shopping destination,” stated Jessica Furlong, Director of Operations, Institutional Commercial Real Estate.
"I'm thrilled with the impressive leasing activity our team has cultivated at Algonquin Commons. The two new leases, Nordstrom Rack and Art Van, generated $8 million in lease value," added Lauren Leach, Director, Commercial Portfolio Management – Institutional Commercial Real Estate
"We are excited to welcome Nordstrom Rack and Art Van to an already strong roster of retail, restaurant and service tenants. These new additions, along with others soon to be announced, solidify Algonquin Commons as the premier lifestyle destination in the area," shared Matt Mason, Senior Vice President - Commercial Real Estate & Special Advisor to the CEO