January 26, 2015
The list of Ann Arbor's top property taxpayers from 2014 reveals a city whose tax base leans heavily on residential and multi-tenant retail properties.
To read the whole article please click on the link below.
January 14, 2015
McKinley is proud to be a part of the great community of Ann Arbor alongside the top rated University of Michigan! Go Blue!
Read more about it on the Detroit Free Press.
December 22, 2014
McKinley is proud to announce that it's founder, Ambassador Ronald N. Weiser and Mrs. Eileen L. Weiser have made a $50 million gift to the University of Michigan. This gift will support different areas of interest significant to the couple including: International Institute in the College of Literature, Science, and the Arts; the School of Education; the Athletic Department; the U-M Health System; the University Musical Society; and the Stephen M. Ross School of Business. This gift brings the Weiser family's lifetime giving to the university to $95.9 million.
To read more about the Weiser family's generosity and their connections to the university please click the following link: http://ns.umich.edu/new/releases/22581-weisers-50-million-gift-impacts-six-university-of-michigan-units#.VJNcmnzB-t0.facebook
December 11, 2014
THIRD LAKE, IL – McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful workout of Waterstone Place in Third Lake, Illinois located approximately 50 miles northwest of Chicago. McKinley was appointed Receiver of this 12,744 square foot asset on September 28, 2010 and was retained as Property Manager. During its time as Manager, McKinley executed a ten year lease with a dentist, and reduced association expenses by 50%.
“The dedicated team assigned to this asset was able to double NOI during McKinley’s time as Manager,” stated Lauren Leach, Director, Commercial Portfolio Management – Institutional Commercial Real Estate. “These results are beyond impressive,” shared Leach.
December 11, 2014
Orlando, FL – McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful disposition of the Island One office building in Orlando, Florida. McKinley was appointed Receiver of this 55,529 square foot asset on December 12, 2012 and was retained as Manager. During its time as Manager, McKinley was able to increase aesthetics by replacing the awnings, updating the landscaping and upgrading the lobby. Property management also completed an upgrade of the energy management system.
“Our Orlando-based team was able to implement numerous changes to this property to increase the value for the disposition,” stated Lauren Leach, Director, Commercial Portfolio Management – Institutional Commercial Real Estate. “I am proud of what they were able to accomplish,” added Leach.
December 8, 2014
Missoula, MT - McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful workout of South Hills Retail in Missoula, Montana. McKinley was appointed Receiver of this 36,356 square foot mixed-use property on March 31, 2014. During its time as Receiver and Property Manager, McKinley initiated an upgrade of the energy management system, brought a 10,000 square foot deal with the State of Montana to the table, and reconfigured the common areas to create a more functional space for the tenants.
"The Institutional Commercial Real Estate team is pleased to have the opportunity to work out this asset on behalf of the court,"stated Lauren Leach, Director, Commercial Portfolio Management - Institutional Commercial Real Estate. "Our team was able to make a substantial impact on this asset in a very short amount of time," Added Leach.
December 8, 2014
Indianapolis, IN - McKinley is pleased to announce the conclusion of its management of Creekwood Apartments in Indianapolis, IN. McKinley took over as property manager for this 510 unit community in October of 2013. Over the last 13 months occupancy was increased from 65% to over 95% and monthly revenue increased from $148,000 to $236,000, creating significant value for our client.
"I'm pleased with the results and value creation during McKinley's tenure at Creekwood," stated Thomas Gritter, Vice President. "It was a great team effort that most importantly benefitted the residents of Creekwood," added Gritter.
November 11, 2014
Ann Arbor, MI - As part of McKinley's company-wide recognition of our veterans and active troops, we join together with the nation to honor those men and women who have fought for our country in military service.
Across America, ceremonies are being held to commemorate the brave efforts of our armed forces past and present, and to remind us of both the strength and the compassion of our military, their families and our country.
"We are honored to join together with so many throughout the country to celebrate our veterans," states Andrew A. Berriz, Director - Special Projects at McKinley. "We are thrilled to be working with the various partner agencies to develop and bring to fruition several much needed housing projects in Wayne and Washtenaw counties dedicated to veterans," shared Berriz.
November 7, 2014
Menomonie, WI – McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful disposition of Lammer’s Grocery Retail Center located in Menomonie, WI. McKinley ICRE began the assignment on this 85,759 square foot grocery-anchored retail center on January 8, 2014. During it’s time as Receiver, McKinley successfully completed the renewal of the anchor grocery tenant, L-Mart Food Fest, with a lease value of over $1.2 million. The team also cured deferred maintenance throughout the property, made necessary capital repairs to the roof, and significantly cleaned up non-paying tenants at the property.
"We were pleased to be selected by our shareholder to dispose of this asset on its behalf," states Matthew D. Mason, Managing Director, Institutional Commercial Real Estate. "Our team, once again, demonstrated its ability to drive results in a short time frame and meet the objectives of our valued shareholder," stated Mason.
November 7, 2014
Ashtabula, OH – McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful disposition of Ashtabula Towne Square located in Ashtabula, Ohio. McKinley ICRE began the assignment on this 803,765 square foot enclosed mall on October 28, 2011 and was retained as Manager. Ashtabula Towne Square is home to tenants including J.C. Penney, Jo Anne Fabrics, and Kmart. During McKinley’s time as Manager, McKinley successfully completed the renewal of major tenants including Office Max, K&H Trucking, and J.C. Penney. McKinley completed nearly 40 renewals with a lease value of $3,934,648. Additional accomplishments include substantial capital repairs to the parking lot and roof, and a tax appeal resulting in an annual tax savings of $250,000.
“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.