Mission Capital Advisors Marketing 24,500-Square-Foot Two-Building Office Property in Phoenix

 Asset presents investors with opportunity to add significant value through lease-up

 

PHOENIX (May 31, 2018) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Asset Sales Group is marketing 2030 E. Osborn Road, a 24,414-square-foot two-building office complex in Phoenix. The Mission Capital team of Will Sledge, Kyle Kaminski, and Tom Karras is marketing the property on behalf of the seller, a CMBS special servicer. The property will be auctioned on the RealINSIGHT Marketplace, with the bidding window opening on June 19 and closing on June 21.

The garden-style property contains two office buildings, one of which is approximately 21,000 square feet, while the other measures approximately 3,400 square feet. The former building is vacant, while the latter recently became fully occupied by professional services firm MVM, Inc., who signed a five-year lease. Built-in 1983 and 2000, respectively, the buildings were fully occupied by an insurance agency whose lease expired in December 2017.

“With its strong location within Phoenix’s Midtown/Central office submarket, this is a very attractive property that will draw interest from established local owner-operators or buyers looking to break into the Arizona market,” said Sledge. “While the property is currently largely vacant, there are a number of potential tenants actively considering leasing a portion or the entirety of the vacant space. This offering will provide investors with the opportunity to buy a well-situated Class B office asset and add value in the short-term through rapid lease-up.”

Located in northeast central Phoenix, the property is proximate to midtown and downtown Phoenix as well as several affluent suburban areas. The asset benefits from the continued growth of the Phoenix metropolitan area, one of the fastest growing metros in the United States.

“The 21,000 square feet of availability can be easily subdivided for two or three tenants, so the buyer will have a good deal of flexibility as they lease up the space,” said Kaminski. “The property is in close proximity to both the VA Hospital and Children’s Hospital and within blocks of AZ-51, the primary highway arterial bisecting Phoenix, providing convenient access to much of the metropolitan area.”

 

 

 

About Mission Capital Advisors

Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York, Florida, Texas, California and Alabama. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $65 billion of loan sale and financing transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information, visit www.www.missioncap.com.

 

About RealINSIGHT Marketplace

RealINSIGHT Marketplace is one of the nation’s leading online due diligence and auction bid platforms. RealINSIGHT provides local, regional, national, and international investors the opportunity to review and bid for loan and REO assets on an individual basis. For more information, visit marketplace.realinsight.com

FLOWOOD, MS (May 17, 2018)

Mission Capital Advisors, a leading national real estate capital markets solutions firm, announced that its Asset Sales Group is marketing Riverchase Medical Suites, a 70,773-square-foot medical office property in Flowood, Mississippi, a suburb of Jackson, Mississippi. The Mission Capital team of Will Sledge, Kyle Kaminski and Tom Karras is marketing the property on behalf of the seller, a CMBS special servicer. The property will be auctioned on the RealINSIGHT Marketplace, with the bidding window opening on June 5 and closing on June 7.

The four-story property is occupied by a wide mix of medical office tenants, several of which serve the Merit Heath River Oaks Hospital. Constructed in 2003, the building is among the newer medical office properties in the market and is located directly across the street from the hospital.

“This asset is currently 99-percent occupied, however tenant roll in 2018 and 2019 presents investors with a unique, value-add opportunity in this supply-constrained market,” said Sledge. “This building’s prominence and strong location will make it extremely alluring to prospective tenants. We expect this offering to be attractive to both local buyers and national investors.”

The building sits on a 5.95-acre site, and features ample parking and inviting landscaping.

Added Kaminski: “Although a number of leases at the property are set to mature in the near future, there is a significant amount of demand for space in this market, so the property is unlikely to suffer vacancy issues for any protracted period of time. Medical office remains a relatively strong asset class nationwide, and opportunities to acquire a quality asset of this nature remain an infrequent occurrence.”

Fully occupied Credit Tenant NNN industrial property offers buyers stable investment

BAY ST. LOUIS, MS (May 17, 2018)

Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Asset Sales Group is marketing the leasehold interest in the GE Building, a fully occupied, 120,194-square-foot industrial facility located in Bay St. Louis, Mississippi. The Mission Capital team of Will Sledge, Kyle Kaminski and Tom Karras are marketing the property on behalf of the seller, a CMBS special servicer, via the RealINSIGHT Marketplace. The bidding window for the property opens on June 5 and closes on June 7.

The property was initially constructed as a packaging and distribution hub for the General Electric Company’s plastics plant, which signed a 16-year triple-net lease for the entire facility in 2006. In 2007, General Electric sold its plastics division to Saudi Basic Industries Corporation (SABIC), at which point SABIC assumed the lease. In addition to the four-plus years currently remaining on the initial lease, the credit tenant also has two five-year extension options, with potential rent escalations.

The offering being marketed by Mission Capital is for the leasehold interest in the property, which expires in 2055. All rent for the term of the ground lease has already been paid in full.

“This net-leased asset offers buyers extremely stable cash flow, and we’re expecting to receive interest from a wide range of local and national net-lease investors,” said Sledge. “While SABIC’s lease is set to expire in four years, they are very likely to sign a renewal because of this facility’s very close proximity to their production plant. With a credit tenant in place, this offering will be very appealing to investors seeking stable assets in strong industrial markets.”

Construction Financing: “When To Go To Market”

Ari Hirt and Steve Buchwald of the Debt & Equity Finance Desk discuss “When To Go To Market,” a new video detailing the complexities of Construction Lending.

Highlights from When To Go To Market

  • When to approach lenders for construction financing?
  • Ideal time to approach lenders is three to six months.
  • Conditions to close: building permits, construction drawings, and buyout of major sub-contractors.
  • Risks of going out too early: lender deal fatigue, market change, and budget increases.
  • More construction financing in 2018 than 2017.