A fully occupied, NNN leased freestanding retail building – currently occupied by franchised fitness chain Crunch Fitness in Tuscaloosa – will sell at auction.

By Stephanie Rebman – Managing Editor, Birmingham Business Journal

Jul 11, 2019

A fully occupied freestanding retail building is hitting the auction block in Tuscaloosa.

The building currently occupied by Crunch Fitness at 3325 McFarland Blvd. E will be up for auction on the RealINSIGHT Marketplace platform July 29-31 via New York City-based Mission Capital Advisors. A CMBS Special Servicer is the seller.

The one-story 42,274-square-foot building was built in 2013 for outdoor retailer Gander Mountain. Crunch, which took occupancy in October 2018, signed a 15-year lease at the 4-acre site.

“The property has excellent frontage in a highly trafficked area of Tuscaloosa, near several main transportation routes and near the University of Alabama,” said Kyle Kaminski, a director with Mission Capital. “Further, Crunch has performed very well in the space since opening and greater market conditions point toward the brand’s continued growth. With the substantial increase in enrollment at the university, and the recent Mercedes Benz expansion, this is a tremendous market to currently be in.”

SAN ANTONIO, Texas (Feb. 25, 2018)

Mission Capital Advisors announced that it represented Entrada Partners in the sale and financing of a 484,369-square-foot industrial portfolio in San Antonio, Texas. The Mission Capital team of Will Sledge and Kyle Kaminski arranged the sale on behalf of both Entrada and the seller, a CMBS special servicer. The Mission Capital Debt and Equity Finance team of Alex Draganiuk and Lexington Henn arranged the non-recourse acquisition loan.

The portfolio comprises four properties, three of which are located just inside I-410 in the northwest of the city, and the fourth just minutes away in Leon Valley. The portfolio’s total occupancy is 88 percent. The properties include:

      • 7402-7648 Reindeer Trail, a five-building, 251,125-square-foot distribution property
      • 1700 Grandstand Drive, a three-building property, which features 59,863 square feet of light industrial / flex space
      • 7042 Alamo Downs Parkway, a 27,987-square-foot light industrial / flex property
      • 5405 Bandera Road, a 145,394-square-foot distribution center just over the San Antonio border in Leon Valley

“Entrada was purchasing this property from a CMBS special servicer, and we were presented with a very limited timeframe in which to close the acquisition financing,” said Draganiuk. “With four properties serving as collateral and a fair amount of required maintenance, this was a complex deal for lenders to underwrite, but we were able to close a non-recourse loan with a regional bank.”

Added Draganiuk: “By canvassing the capital markets for the best offers, we were able to secure very strong terms for Entrada. The mortgage was structured interest-only for the first several years, and also featured release prices for the different properties, giving Entrada significant flexibility to execute its business plan.”

For Entrada, the four properties were attractive because of their significant upside as well as their geographic location. Headquartered in Los Angeles, the firm has a regional office and significant holdings in San Antonio, and is ideally positioned to unlock the portfolio’s full value.

“The investment represented a fantastic opportunity to expand our presence in the San Antonio market,” said Reuben Berman, founder and partner of Entrada. “We believe San Antonio provides a great investment environment due to its job and population growth, diversified economy, abundant work force and affordable cost of living. San Antonio is the 24th largest MSA in the United States, but has the 3rd highest population growth rate (15.5% between 2010 and 2017). This growth is naturally creating more demand for real estate to live and work in.”

By Timea Matyas | Commercial Property Executive

Entrada Partners Acquires San Antonio Industrial Portfolio

The four properties have a combined 484,369 square feet and an 88 percent occupancy rate. All the assets are close to the Interstate 410 loop.

Entrada Partners has acquired a four-property, 484,369-square-foot industrial portfolio in San Antonio, Texas. Mission Capital Advisors arranged both the sale and the financing of the assets. The portfolio’s total occupancy is 88 percent.
Three of the four assets are located within the Interstate 410 loop, close to the interstate in the northwest area of the city, and all are within 4 miles of Ingram Park Mall. The properties are:

      • 7402-7648 Reindeer Trail, a five-building, 251,125-square-foot distribution facility
      • 1700 Grandstand Drive, a three-building property which includes 59,863 square feet of light industrial/flex space
      • 7042 Alamo Downs Parkway, a 27,987-square-foot light industrial/flex property
      • 5405 Bandera Road, a 145,394-square-foot distribution center

Mission Capital Advisors’ Will Sledge and Kyle Kaminski of the asset sales team arranged the transaction on behalf of the seller. Alex Draganiuk and Lexington Henn of the company’s capital debt and equity finance team arranged the non-recourse acquisition loan on behalf of the buyer. In late 2018, the company also arranged a $13 million floating-rate financing for a Chicago retail asset.
“The mortgage was structured interest-only for the first several years, and also featured release prices for the different properties, giving Entrada significant flexibility to execute its business plan,” Draganiuk said in a prepared statement.

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February 14, 2019 | Connect Chicago Commercial Real Estate News

Mission Capital Advisors’ asset sales group is marketing 400 Nave Rd., SE, a 243,000-square-foot industrial property in Massillon, OH net leased to a credit tenant. The firm’s Will Sledge and Kyle Kaminski are marketing the property on behalf of a CMBS special servicer.

The single-story property is fully occupied by A.R.E. Accessories, a manufacturer of fiberglass and aluminum truck caps and covers as well as LED lighting.

“This location serves as A.R.E.’s headquarters, and over the past few years, A.R.E. has made improvements to several portions of the building interior,” said Kaminski. “With a credit tenant demonstrating that level of commitment, this property is likely to maintain its strong cash flow for the foreseeable future.”

The property will be auctioned on the RealINSIGHT Marketplace in early March. “It’s rare to find an investment opportunity like this on a real estate auction platform, and we anticipate significant interest from net-lease buyers,” Kaminski said.

December 20, 2018

The Chapel Ridge shopping center in northwest Fort Wayne will take bids on two buildings next month.

New York-based Mission Capital Advisors, working with Fort Wayne’s Sturges Property Group, will accept bids on behalf of the unnamed owner Jan. 8, 2019, according to a statement released Dec. 11. The property is real estate owned.

The property is a two-building, 8-unit, 46,641-square-foot shopping center on a 1.27-acre site near the Interstate 469-Indiana 37 interchange.

The center is shadow anchored by several national tenants including Walmart, Michaels and Kohl’s that draw shoppers into it.

Six tenants currently occupy the property up for bid, including Buffalo Wild Wings, Ziano’s Italian Eatery, Goodwill and a local swim store. Two spaces are vacant.

The majority of leases are set to roll over between 2020 and 2026.

Bids will be accepted at https://market.www.missioncap.com/memo/new?id=0063800000mJCpCAAW.

Former Toast & Jam gets Redemption

Redemption House Executive Director Tomra “Tomi” Cardin got plenty of hugs from a couple of dozens supporters after the Fort Wayne Board of Zoning Appeals on Dec. 13 approved the group opening a second site in a historic house in downtown.

Redemption House’s first location is at 2720 Fairfield Ave., where it has space for 13 women who are former nonviolent offenders referred there by the Allen Superior Court’s Re-entry program and outlying areas. They participate in skills classes, job training and other courses to prepare them to transition back into the community.

The second house is the Bostick-Keim Mansion at 426 E. Wayne St. The added location will allow the program to double its capacity by providing room for another 16 women, according to its application.

The program plans to move into the Queen Anne Victorian built in 1888 after the first of the year. The house has seven bedrooms and three full baths. Some of the features include oak woodwork, five fireplaces and stained-glass windows. The home comes with a three-car garage.

“Residents take care of the home while working jobs,” Mark Bains, an attorney with Barrett McNagny, who was representing the program, told the zoning board.

The program started as Wings of Hope in 2012.

Not all women who are referred to redemption are accepted.

“Residents are well-behaved or they’re not there,” Bains told the zoning board.

Weigand opens South Bend office

Weigand Construction Co., of Fort Wayne, a provider of construction management services, is expanding into north central Indiana with its new office completed earlier this year in downtown South Bend. Weigand’s new office, at 108 N. Main St. on the second floor of the historic JMS building, provides pre-construction, construction management, general contracting and design build services to the local market.

“In recent years, Weigand has been involved in an increasing number of projects in the north central Indiana region,” Jeremy Ringger, Weigand president, said in a statement. “Opening an office in South Bend will allow us to improve upon our existing presence while continuing to provide exceptional service to the Michiana community.”

Weigand recently completed construction of the Angela Athletic and Wellness Complex at Saint Mary’s College, a nursing simulation lab at Bethel College, and the Harris Track & Field Stadium at the University of Notre Dame, all in the South Bend area.

Ongoing projects include the Marshall County Aquatic Center in Plymouth, a 40-bed Vibra Health Rehabilitation Hospital in Mishawaka, the Andreasen Center for Wellness at Andrews University, and a lean-designed beam processing center for Lippert Components in Goshen. All four projects are new construction, and all are scheduled for completion in 2019.

Weigand Construction was founded in 1906 and serves clients throughout the Midwest. It has over 300 skilled tradespeople and annual revenues above $200 million.

The Zacher Company

Fletcher Moppert and Steven Zacher represented the seller, Trelleborg Seal, in the sale of a 48,500-square-foot industrial building at 1151 Bloomingdale Drive in Bristol to 1151 Bloomingdale Drive LLC.

Moppert represented both the landlord, P&A Realty Inc., and the tenant Fastenal in the lease extension of 7,500-square-foot industrial space at 4105 Engleton Drive, Fort Wayne.

Evan Rubin represented the buyer, I.O.O.F Harmony Lodge No. 19 Inc., in the purchase of a 4,912-square-foot office building in Sleepy Hallow Professional Offices at 7325-7327 W. Jefferson Blvd., Fort Wayne.

John Adams represented both the landlord, Boulder Ridge Professional Offices Corp., and the tenant, G6 Communications LLC, in the lease of a 1,680-square-foot office space at 10848 Rose Ave., New Haven.

Joy Neuenschwander and Moppert represented both the landlord, Alea Properties Office I LLC, and the tenant, Larson Financial Group LLC, in the lease of a 1,319-square-foot office space at 7230 Engle Road, Fort Wayne.

Neuenschwander represented the landlord, DCL Scott Corp., and Neuenschwander and Rubin represented the tenant, Long Tail Corp., in the lease extension of a 1,106-square-foot office space at 5738 Coventry Lane, Fort Wayne.

Adams represented the landlord, Harrison/Wayne LLC, in the lease of office space at 203 W. Wayne St., Fort Wayne, to Jarencio Valcarcel.

Bradley Company

Lucas Demel and Steve Chen represented the landlord, BRV‐X LLC, in the lease negotiation of retail space for a wireless tenant at the new Dupont Pointe Shopping Center, 5131 E. Dupont Road.

Demel and Chen represented the landlord, BRV‐X LLC, and the tenant, the Guy’s Place, in the lease negotiation of retail space at the new Dupont Pointe Shopping Center, 5131 E. Dupont Road.

SVN-Parke Group

Diana Parent represented the landlord of the PNC Center and the tenant, Headwaters Park Alliance, in their lease renewal of Suite 2012.

Whitney Peterson represented the landlord of the PNC Center and the tenant, Christopher Alexander, in a new executive suite’s lease for Suite 2102.

Parent represented the seller, Brookside Community Church in the sale of 5.44 acres at 6031 Evard Road.

Troy Reimschisel and Anna Bowman represented BOER Inc., the landlord of 4115 Clubview Drive, in the recent lease of 2,500 square feet of flex space to Franchise World Headquarters LLC.

LISA ESQUIVEL LONG is a freelance journalist who is filing in for Business Weekly Associate Editor Linda Lipp while Lipp is out of the office.

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Why Mission Capital? Featuring David Tobin (Principal)

New York (12/18/2018)

Principal, David Tobin, discusses why customers choose Mission Capital when evaluating service and solutions providers to execute capital raising or asset sale transactions.

OVERVIEW

Customers often ask us why Mission when evaluating service and solutions providers to execute on capital raising or asset sale transactions. The answer to that is threefold. Mission is a diverse platform which focuses on capital raising and on asset sales. So, we have a multi-pronged relationship with the counter-parties that we work with when representing a customer. Number two, we’ve kept the band together for sixteen years. So, Mission’s been growing since it started in 2002. We now have six offices around the country and all of the key managers that started or came to the firm since the beginning of the firm are still with the firm. And number three is that we will out-hustle, out-work and out-think our competition. We’re nimble, we’re intelligent, e have a great team and we are constantly trying to outdo our competitive set.

DAVID TOBIN’S MISSION CAPITAL MILESTONES

William David Tobin is one of two founders of Mission Capital and a founder of EquityMultiple, an on-line loan and real estate equity syndication platform seed funded by Mission Capital. He has extensive transactional experience in loan sale advisory, real estate investment sales and commercial real estate debt and equity raising. In addition, Mr. Tobin is Chief Compliance Officer for Mission Capital.
Under Mr. Tobin’s guidance and supervision, Mission has been awarded and continues to execute prime contractor FDIC contracts for Whole Loan Internet Marketing & Support (loan sales), Structured Sales (loan sales) and Financial Advisory Valuation Services (failing bank and loss share loan portfolio valuation), Federal Reserve Bank of New York (loan sales), Freddie Mac (programmatic bulk loan sales for FHFA mandated deleveraging), multiple ongoing Federal Home Loan Bank valuation contracts and advisory assignments with the National Credit Union Administration.

BACKGROUND

From 1992 to 1994, Mr. Tobin worked as an asset manager in the Asset Resolution Department of Dime Bancorp (under OTS supervision) where he played an integral role in the liquidation of the $1.2 billion non-performing single-family loan and REO portfolio. The Dime disposition program included a multi-year asset-by-asset sellout culminating in a $300 million bulk offering to many of the major portfolio investors in the whole loan investment arena. From 1994 to 2002, Mr. Tobin was associated with a national brokerage firm, where he started and ran a loan sale advisory business, heading all business execution and development.

Mr. Tobin has a B.A. in English Literature from Syracuse University and attended the MBA program, concentrating in banking and finance, at NYU’s Stern School of Business. He has lectured on the topics of whole loan valuation and mortgage trading at New York University’s Real Estate School. Mr. Tobin is a member of the board of directors of H Bancorp (h-bancorp.com), a $1.5 billion multi-bank holding company that acquires and operates community banks throughout the United States. Mr. Tobin is a member of the Real Estate Advisory Board of the Whitman School of Management at Syracuse University and a board member of A&M Sports / Clean Hands for Haiti.

MORE ABOUT DAVID TOBIN

www.missioncap.com/team/?member=dtobin

December 14, 2018

In this Q&A, Michael Britvan, Managing Director Loan Sale and Asset Sale group at Mission Capital and Allison Israel, Product Manager of Mission Capital give insights into how machine learning and artificial intelligence will have a broad impact on lending operations.

How do you see artificial intelligence and machine learning impacting the mortgage space?

Israel: There are various applications for artificial intelligence across the mortgage industry, but one area where we’re already seeing machine learning make an impact is the analysis of loan portfolios.

When banks explore the sale of loan portfolios in the secondary market, they produce data tapes containing relevant loan, collateral, and borrower information from their servicing systems. Field names in these tapes frequently vary by servicing platform as there is currently limited industry standardization. For example, a data field in one loan tape might refer to “Origination Date,” while another shows “OrigDate” and a third is “Loan Origination Date.” Although each of these fields refers to the same thing, the fact that they are labeled differently means that an analyst looking to load a model might spend considerable time deciphering column headers and normalizing data.

Machine learning has the power to take this manual process and perform it automatically. For example, it is able to recognize that “OrigDate” means “Origination Date.” Additionally, when the system is processing a new tape and finds a term it doesn’t recognize, it uses natural language processing to parse the word and find the closest match. The more tapes we put through the system, the smarter it gets. A few months ago–when we first deployed the system internally–it generally recognized around 40 percent of the fields. But, as it learns more, and processes a greater number of tapes, we expect that number to climb closer to 90 percent.

Would you say that the greatest benefit of machine learning is time savings?

Israel: While time savings is an important factor, having standardized field names from the machine learning model also allows us to apply a standard set of “rules” within the same software. For example, with all tapes using the term “Origination Date,” we can tell the system that “Origination Date” must come before “Maturity Date,” and it will flag any loans that don’t comply with the rule. We currently have about 250 rules, and they are instrumental in enabling us to improve data integrity by catching data issues programmatically.

Conventionally, analysts have spent up to 80 percent of their time in Excel normalizing data, validating information in the tapes, and resolving errors. This results in very little time to analyze the value and potential of the portfolios at hand. With newly developed software, we’re leveraging machine learning to flip the scale and enable analysts to spend less time manually manipulating data tapes and more time on the actual analysis.
Across the industry, loan analysis and trading are made infinitely more efficient by introducing machine learning models and enhancing those models with historical big data. The key to leveraging big data is the ability to normalize it first.

What are the other benefits mortgage professionals realize from this technology?

Britvan: The technology empowers all mortgage professionals to validate, analyze, and visualize data more efficiently. Depending on the user and firm, this can translate into a range of different benefits.

Banks leveraging this technology might be able to gain better insight into their portfolios. By cleaning up data and eliminating errors, they are also better able to manage their service providers. For example, with a better handle on their portfolio, it will become easier for banks to spot-check loan servicers to ensure accurate reporting and potentially even audit remittances.

Investors acquiring whole loans are able to spend more time on analysis and less time cracking tapes and stratifying portfolios.

Do you think these innovations will have a broader impact on the whole loan sale market?

Britvan: Over the past decade or so, there’s been a significant shift in the perception of trading whole loans on the secondary market.

Ten or twelve years ago, selling loans on the secondary market was often an indicator that the seller had a problem on their hands, and the decision to sell stemmed from a desire to remove the problem from their books. That perception has changed. Today, the speed of transactions has increased, while the number of participants in the secondary market for whole loans has climbed significantly. Whole loans are a relatively liquid asset, and many banks routinely tap the secondary market to manage their loan portfolio.

We expect technology to increase efficiency in analyzing loan portfolios which should, in turn, expand the universe of buyers in the secondary market. Right now, most buyers considering entering the market rely on an analyst to clean and validate data prior to loading a model. With the strides we’re making in producing tools that clean up the data automatically, it allows investors to focus on finding value rather than allocating resources to data manipulation.

Do you think there are other notable tech trends that will have a significant effect on the secondary loan sale market?

Britvan: One area that has a lot of untapped potential is the incorporation of big data into mortgage analysis. When analyzing a loan portfolio, the quality of the valuation we can produce is often limited by the quality of data we receive. Key data points that are stale or absent require that assumptions be made.

By taking a big data approach to updating stale data or making assumptions, we can improve our estimates. For example, if we’re analyzing a multifamily property, we could leverage things like demographic trends, market occupancy, existing and future inventory, and housing data to make assumptions regarding a property’s current and projected future occupancy. This means that we are no longer just filling in missing or stale data but are also using historical trends to predict the market. This introduces brand-new inputs into our models that would have previously been unavailable without the breadth of data at our fingertips today.

Big data analysis of external factors, combined with proprietary market knowledge gleaned from our whole loan trading activity, will provide a better basis for secondary market participants to analyze loan tapes. We expect the industry to make significant strides in incorporating third-party data into their analysis in the years ahead.

See more here:

View the article online at themreport.com

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Impact Of Macroeconomic Trends On Residential Mortgage Industry: Favorable Credit Environment For Whole Loans Sales

[Published by the Loan Sales and Real Estate Sales Desk, Mission Capital]

New York (11/29/2018)

  • Current market conditions have created a favorable environment to monetize whole loans.
    • Strong fundamentals in the labor markets led to vastly improved credit performance and fuller valuations in the loan space.
    • Investors continue to recognize the higher returns and wider moat that whole loans offer compared to traditional bond investments.
  • As a macro-economic backdrop, the unemployment rate is now at its lowest level in almost 40 years and wages grew at a healthy pace of 2.9% over the last 12 months.
  • Alongside the positive economic developments, loan sale volumes shifted substantially from Non-Performing to Re-Performing loans as loan servicers developed practices to collect more meaningfully on charged off loans and modify impaired loans more effectually.
  • Meanwhile, the positive credit performance was offset by softness in rates, which sold off in early October in response to Fed hikes and balance sheet run off. Likewise, the Fed’s Dot Plot shows a forthcoming inversion of the discount window, signaling a looming recession.

  • Given the full valuations and improved performance, it’s an opportune time for banks to sell their assets at attractive levels so they can focus on their core business of originating new loans. Further, this source of loan product provides investment managers an opportunity to diversify their exposure away from traditional bonds and into whole loans or privately structured products that generate more attractive returns.  On the buy-side, the strong credit fundamentals provide an opportunity for funds to harvest their lower yielding assets at favorable levels so they can focus on working out more impaired assets.

 

About Loan Sales & Real Estate Sales

Mission Capital represents preeminent financial institutions, investors and government agencies on the sale of performing, sub-performing and non-performing debt secured by all types of commercial and consumer collateral, commercial real estate investment property and tax liens. For more information, visit www.www.missioncap.com/loan-sales-real-estate-sales

One of Mission Capital’s Principals, Jordan Ray, chats about evaluating and working on Hospitality deals. Jordan is a Principal on the Debt & Equity Finance desk at Mission Capital. Explore some of our other Hospitality deals.

JORDAN RAY 10 | HOSPITALITY from Mission Capital on Vimeo.

 

JORDAN RAY
Jordan Ray is the Principal of The Debt & Equity Finance Group at Mission, which he founded in 2009. Jordan has been honored with such industry awards as the 2016 Real Estate Finance and Investment Magazine – Mortgage Broker of the Year Award, the 2013 and 2012 Observer Top 20 under 35 and the 2017 NYU Schack Institute Financing Deal of the Year. Jordan sits on the board and co founded EquityMultiple – an online marketplace real estate finance company – in 2015. Jordan is also actively involved in UK/European real estate financing.

LEARN MORE ABOUT JORDAN RAY:
www.missioncap.com/team/?member=jray

LEARN ABOUT THE DEBT & EQUITY FINANCE DESK HERE:
www.missioncap.com/debt-equity/

VISIT MISSION CAPITAL’S WEBSITE:
www.missioncap.com

Currently vacant, properties will be sold in five separate auctions in early December, offering incredible opportunity to value-add investors

NEW YORK (November 26, 2018) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Asset Sales Group is marketing five separate, vacant Indiana retail properties. The five properties range in size from 14,000 to 80,000 square feet, and are located in Indianapolis, Richmond, Muncie and Lafayette, Indiana. The Mission Capital team of Will Sledge, Kyle Kaminski, and Rob Beyer is marketing the offerings on behalf of the seller, a CMBS special servicer. Each of the properties will be auctioned individually on the RealINSIGHT Marketplace platform, with the bidding window opening on December 3 and closing on December 5.

All five of the properties were previously occupied by the Marsh grocery chain – or its LoBill Foods brand – which filed for bankruptcy protection in 2017 and was subsequently liquidated. All five of the buildings are fully vacant.

“For value-add investors, these properties offer an excellent opportunity to acquire assets with significant upside at a very low basis,” said Kaminski. “Several of the retail centers are located in strong commercial and residential districts, and strategic investors will be able to capitalize on their significant potential. The seller is highly motivated to find buyers for all five properties, and we anticipate interest from both local and national buyers seeking opportunistic investments.”

The properties include:

  • 10901 East Washington Street in Indianapolis is an 80,000-square-foot, single-story retail property. Constructed in 1992, the building sits on an eight-acre lot, and is ideally located just east of the Washington Plaza Mall, and is surrounded by a wide range of national tenants including Walmart, Dairy Queen, Arby’s and GameStop. The property is also within minutes of Interstates 70 and 465.
  • 3825 State Road 26 East in Lafayette is an 80,064-square-foot, single-story, big-box retail property. The structure was built in 1995 and is situated on a 12-acre lot adjacent to a Sam’s Club and across the street from the Lafayette Pavilions local shopping mall. The property is situated in a prime enclave of Lafayette, surrounded by a largely residential neighborhood that also features several hotels and numerous retail and dining options.
  • Built in 1980, 3910 West Bethel Pike in Muncie is a 50,042-square-foot, single-tenant property in a prime area that features a range of shopping and dining options. With convenient local access, the property is ideally suited for retail uses, and housed a short-term Halloween-focused retailer this fall. Located approximately two miles from Ball State University, in an area marked by significant tech job growth, the property should generate significant leasing interest from national and local tenants looking to expand in one of Muncie’s strongest retail submarkets.
  • 1301 South East Street in Richmond is a 14,737-square-foot, single-story building. The single-tenant structure was built in 1950 and is ideally suited for a buyer open to acquiring a well-located commercial property at a low basis with an eye toward redevelopment.
  • 1920 South Hoyt Avenue in Muncie is a 60,072-square-foot, two-building retail/commercial property. The two properties include a single-story, 45,000-square-foot building, constructed in 1978, and a two-story commercial building, which was built in 2017 and measures approximately 15,000 square feet. The layout of the property affords an investor flexibility for either single-tenant or multi-tenant usage.


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.

Former Marsh Stores Head to Auction

November 27, 2018

NEW YORK – Five former Marsh stores throughout Indiana will soon be on the auction block. New York-based Mission Capital Advisors LLC says bidding will begin next week on the properties, all of which are currently vacant after being liquidated due to the grocery chain filing for bankruptcy.

Each of the properties will be auctioned individually with bidding beginning on December 3 and closing on December 5. Mission Capital is marketing the auctions on behalf of the seller.

“For value-add investors, these properties offer an excellent opportunity to acquire assets with significant upside at a very low basis,” said Kyle Kaminski with Mission Capital. “Several of the retail centers are located in strong commercial and residential districts, and strategic investors will be able to capitalize on their significant potential. The seller is highly motivated to find buyers for all five properties, and we anticipate interest from both local and national buyers seeking opportunistic investments.”

The properties, ranging from 14,000 to 80,000 square feet, include:

  • 10901 East Washington Street, Indianapolis
  • 3825 State Road 26 East, Lafayette
  • 3910 West Bethel Pike, Muncie
  • 1301 South East Street, Richmond
  • 1920 South Hoyt Avenue, Muncie

Marsh Supermarkets filed for Chapter 11 bankruptcy protection in May 2017. Nearly two-thirds of the chain’s stores were acquired by Ohio-based Kroger Co. (NYSE: KR) subsidiary Topvalco Inc., and Generative Growth II LLC.

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Former South Street Marsh Supermarket to be auctioned online on Dec. 3

November 27, 2018

LAFAYETTE, Ind. — The Marsh Supermarket on Teal Road in Lafayette sits at the edge of a food desert, which isn’t as picturesque as it sounds.

A food desert is defined as a census tract in which at least 500 people or 33 percent of the population must travel more than a mile to reach a grocery store.

According to 2015 data compiled by The United States Department of Agriculture, Lafayette’s Marsh location is staving off the expansion of an already sizable food desert.

Should the supermarket close, going the way of many other Marsh Supermarkets in Indiana and Ohio, this desert would spread.

It was revealed Tuesday that 17 stores might close. This is in addition to the 19 Marsh Supermarkets shuttering by the end of May. While Lafayette and West Lafayette Marsh locations have not landed on either of these lists, the news does call into question the overall longevity of the grocery store chain.

Could this be the death knell for Greater Lafayette’s Marsh stores?

Sparsely populated bread aisles and a sign posted on the door of Lafayette’s Marsh reading “We are currently out of newspapers” only underscore this question.

Managers at both Marsh locations refused to comment on the status of the supermarkets. Marsh’s corporate offices also declined to comment about the Lafayette and West Lafayette locations.

Katy Bunder, CEO and president of Food Finders Food Bank, said losing Marsh could be a serious blow for residents on the south side of Lafayette.

“If you are taking a bus or walking each time, and you get further away from a store, have busier streets to cross, shopping gets harder,” Bunder said.

Bunder also said there is a significant elderly populations that lives near that Marsh, which might be impacted.

Rosemary and Gordon McCool, both in their 80s, said they would be inconvenienced if the Marsh on Teal Road folded.

“Whenever I need something I can run over here and get it. … Also, this is a smaller store and you get around better. When you get to be our age, big stores are just hard to get around,” Rosemary McCool said.

Although not a great distance, she added, going to the Payless Super Market on Beck Lane, the next closest store, would be a hassle, not just for the drive time but because there is much more store to navigate.

Angela Pruitt, a member of Sitrick and Company, the firm currently handling Marsh’s public relations, said 44 Marsh stores remain after the spate of closures that began in January.
“Marsh Supermarkets is seeking a buyer for all 44 of its remaining stores. The company has retained the investment banking firm of Peter J. Solomon Company to assist us in marketing the stores,” Pruitt said.

If the additional 17 stores were to close, however, this would leave Marsh with just 27 stores still open. A spokesperson for Marsh said on Tuesday if a buyer isn’t found for the remaining Marsh stores within 60 days they will all close.

In 2006, the year Sun Capital Partners acquired Marsh stores, there were 120 Marsh Supermarkets. Now, after an avalanche of closures, the dismantling of all Marsh pharmacies and more bad news this week, residents like Rosemary and Gordon McCool are unsure how they will easily manage grocery shopping if their neighborhood Marsh doesn’t survive.

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Former Richmond Marsh store will go up for auction next week

November 27, 2018

RICHMOND, Ind. — A former grocery store on the city’s south side might soon have a new owner.

An online auction will be held next week for five former Marsh properties across Indiana, including the store at 1301 S. E St. in Richmond.

Mission Capital Advisors, a national firm, is handling the marketing of the real estate. The auction will be conducted on the RealINSIGHT Marketplace website, with each property offered for sale individually.

The Richmond location will go up for bids starting at noon Monday with an initial asking price of $50,000. The auction will close at 4:30 p.m. Wednesday.

“The seller is highly motivated to find buyers for all five properties, and we anticipate interest from both local and national buyers seeking opportunistic investments,” Kyle Kaminski of Mission Capital said in a news release.

Cox Supermarkets, which had operated groceries in the city since the mid-1940s, sold the South E Street site to Marsh in 1999. The 14,730-square-foot building was home to a Marsh store until it closed in March 2017 as the regional grocery chain went under. It’s been vacant since.

In a sheriff sale earlier this year, the property was sold to Wells Fargo bank, the sole bidder, for $1,288,511.75. Wells Fargo is believed to have been involved with financing the building, allowing it to take back the property.

The last remaining Marsh store in Richmond, 501 National Road W., is now called Needler’s, after it was bought along with several others by Ohio-based grocer Fresh Encounter.

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5 former Marsh stores heading to auction in December

MUNCIE, Ind. – Vacant buildings that once held grocery stores could soon come under new ownership. Five former Marsh buildings are part of an auction in early December, with each property getting auctioned separately.

The properties are headed to auction by Mission Capital Advisors, a national real estate capital markets solution firm.

The five properties in Indiana are:

  • 10901 East Washington Street in Indianapolis
  • 3825 SR 26 East in Lafayette
  • 3910 West Bethel Pike in Muncie
  • 1301 South East Street in Richmond
  • 1920 South Hoyt Avenue in Muncie

Muncie isn’t only the only community with two properties on the auction block, but also the home where Marsh Supermarkets.

“Marsh was obviously synonymous with Muncie,” said executive director of the Muncie Redevelopment Commission, Todd Donati.

Donati said the Hoyt Avenue location closed in the summer of 2017, when Marsh filed for bankruptcy and shut down its stores across the state.

The building along Bethel Pike has not held a grocery store for several years and was most recently a Dunham’s Sporting Goods, according to Donati.

The loss of the two stores left a big impact on the community.

“Not only did we lose a lot of grocery stores, we lost a lot of jobs, too,” Donati said.

The bidding window for the properties in the auction opens on Monday, December 3. It closes two days later on December 5.

Donati said the city may end up being the buyer in the end, but he was confident the two properties in Muncie would have a buyer.

“They won’t be grocery stores,” said Donati. “They’ll be some kind of retailers. They may split up into different retail units. If someone buys them right, they can remodel and can maybe have three, four or five small retail outlets in these stores.”

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Mission Capital to Auction Vacant IN Retail Sites

November 28, 2018

Mission Capital Advisors’ asset sales group is marketing five separate, vacant Indiana retail properties. The five properties, formerly occupied by the Marsh grocery chain or its LoBill Foods brand, range in size from 14,000 to 80,000 square feet. They’re located in Indianapolis (pictured), Richmond, Muncie and Lafayette.

“For value-add investors, these properties offer an excellent opportunity to acquire assets with significant upside at a very low basis,” said Mission Capital’s Kyle Kaminski. “The seller is highly motivated to find buyers for all five properties, and we anticipate interest from both local and national buyers seeking opportunistic investments.”

Kaminski and his colleagues, Will Sledge and Rob Beyer, are marketing the offerings on behalf of the seller, a CMBS special servicer. Each of the properties will be auctioned individually on the RealINSIGHT Marketplace platform, with the bidding window opening on December 3 and closing on December 5.

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Two Muncie properties that once held Marsh stores to be auctioned online

November 27, 2018

MUNCIE, Ind. — Two Muncie retail properties that previously held Marsh stores will be put up for auction online during the beginning of December.

Mission Capital Advisors announced Monday that its asset sales group is marketing the vacant Muncie properties — 3910 W. Bethel Ave. and 1920 S. Hoyt Ave. — along with former Marsh or LoBill Foods locations in Lafayette, Richmond and Indianapolis. Marsh filed for bankruptcy protection in 2017.

The bidding window for the properties will be from noon Dec. 3 until about 4 p.m. Dec. 5. Each property will be auctioned individually on the RealINSIGHT Marketplace platform. The starting bid for the Bethel location is $200,000, according to this platform, while the Hoyt space starts at $250,000.

A team comprised of Will Sledge, Kyle Kaminski and Rob Beyer is marketing the offerings on behalf of the seller.

“For value-add investors, these properties offer an excellent opportunity to acquire assets with significant upside at a very low basis,” Kaminski said in a release. “The seller is highly motivated to find buyers for all five properties, and we anticipate interest from both local and national buyers seeking opportunistic investments.”

The retail space at 3910 W. Bethel Ave. includes 50,042 square feet and is located near Rural King and the Northwest YMCA.

The 1920 S. Hoyt Ave. location holds two buildings, one single-story building with 45,000 square-foot and the other a two-story commercial building built in 2017 that totals 15,000 square feet and could be used by a single tenant or multiple tenants.

Marsh Supermarkets, founded in Muncie in 1931, filed for Chapter 11 bankruptcy protection in May 2017 as it was working to sell off its stores. Its Muncie locations included stores on McGalliard Road, Tillotson Avenue, Walnut Street, Burlington Drive, Hoyt Avenue and Bethel.

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2 old Marsh stores in Muncie part of five old grocery stores heading to auction

November 28, 2018

MUNCIE, Ind. – Vacant buildings that once held grocery stores could soon come under new ownership. Five former Marsh buildings are part of an auction in early December, with each property getting auctioned separately.

The properties are headed to auction by Mission Capital Advisors, a national real estate capital markets solution firm.

The five properties in Indiana are:

  • 10901 East Washington Street in Indianapolis
  • 3825 SR 26 East in Lafayette
  • 3910 West Bethel Pike in Muncie
  • 1301 South East Street in Richmond
  • 1920 South Hoyt Avenue in Muncie

Muncie isn’t only the only community with two properties on the auction block, but also the home where Marsh Supermarkets.

“Marsh was obviously synonymous with Muncie,” said executive director of the Muncie Redevelopment Commission, Todd Donati.

Donati said the Hoyt Avenue location closed in the summer of 2017, when Marsh filed for bankruptcy and shut down its stores across the state.

The building along Bethel Pike has not held a grocery store for several years and was most recently a Dunham’s Sporting Goods, according to Donati.

The loss of the two stores left a big impact on the community.

“Not only did we lose a lot of grocery stores, we lost a lot of jobs, too,” Donati said.

The bidding window for the properties in the auction opens on Monday, December 3. It closes two days later on December 5.

Donati said the city may end up being the buyer in the end, but he was confident the two properties in Muncie would have a buyer.

“They won’t be grocery stores,” said Donati. “They’ll be some kind of retailers. They may split up into different retail units. If someone buys them right, they can remodel and can maybe have three, four or five small retail outlets in these stores.”

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Two Well Known Muncie Retail Properties To Be Sold In Online Auction

November 28, 2018

New York, NY—Mission Capital Advisors, a leading national real estate capital markets solutions firm, has announced that its Asset Sales Group is marketing two well known Muncie properties in an online auction to be held December 3-5.

Both properties will be auctioned individually on the RealINSIGHT Marketplace platform, with the bidding window opening on December 3rd and closing on December 5th.

The properties were previously occupied by the Marsh grocery chain – or its LoBill Foods brand – which filed for bankruptcy protection in 2017 and was subsequently liquidated. Both buildings are fully vacant.

The retail centers are located in strong commercial and residential districts, and strategic investors will be able to capitalize on their significant potential. The seller is highly motivated to find buyers for both properties, and interest is anticipated from both local and national buyers seeking opportunistic investments.

The properties include the two named below with links to each online auction page.

Built in 1980, 3910 West Bethel Pike in Muncie is a 50,042-square-foot, single-tenant property in a prime area that features a range of shopping and dining options. With convenient local access, the property is ideally suited for retail uses, and housed a short-term Halloween-focused retailer this fall. Located approximately two miles from Ball State University, in an area marked by significant tech job growth, the property should generate significant leasing interest from national and local tenants looking to expand in one of Muncie’s strongest retail submarkets.

1920 South Hoyt Avenue in Muncie is a 60,072-square-foot, two-building retail/commercial property. The two properties include a single-story, 45,000-square-foot building, constructed in 1978, and a two-story commercial building, which was built in 2017 and measures approximately 15,000 square feet. The layout of the property affords an investor flexibility for either single-tenant or multi-tenant usage.

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5 Former Marsh Stores to Hit Auction Block

November 29, 2018

Five former properties that once housed Marsh Supermarkets sites will go on the auction block next week.

The vacant properties are being marketed by real estate services firm Mission Capital Advisors on behalf of their owner, identified only as a commercial mortgage backed securities special servicer.

Once an industry stalwart, Indianapolis-based Marsh Supermarkets filed for Chapter 11 bankruptcy protection in 2017 and subsequently liquidated, citing high debts and competitive intrusions from companies such as Kroger and Meijer.

The stores to be auctioned went unsold in Marsh’s 2017 liquidation, which saw 11 of its 44 stores sold to Kroger and another 17 go to Fresh Encounter, the Findlay, Ohio-based independent. They housed either the Marsh or LoBill brands and range in size from 14,000 to 80,000 square feet.

“For value-add investors, these properties offer an excellent opportunity to acquire assets with significant upside at a very low basis,” Kyle Kaminski of Mission Capital said in a statement. “Several of the retail centers are located in strong commercial and residential districts, and strategic investors will be able to capitalize on their significant potential. The seller is highly motivated to find buyers for all five properties, and we anticipate interest from both local and national buyers seeking opportunistic investments.”

Mission said the sites would be auctioned individually on the RealInsight Marketplace online platform, with the bidding window opening Dec. 3 and closing Dec. 5.

The properties to be sold:

  • 10901 E. Washington St., Indianapolis, an 80,000-square-foot, single-story retail property. Constructed in 1992, the building sits on an eight-acre lot, and is just east of the Washington Plaza Mall. It is surrounded by a wide range of national tenants, including Walmart, Dairy Queen, Arby’s and GameStop.
  • 3825 State Road 26 East, Lafayette, Ind., an 80,064-square-foot, single-story, big-box retail property. The structure was built in 1995 and is situated on a 12-acre lot adjacent to a Sam’s Club and across the street from the Lafayette Pavilions local shopping mall.
  • 3910 W. Bethel Pike, Muncie, Ind., a 50,042-square-foot, single-tenant property in a prime area that features a range of shopping and dining options. It was built in 1980.
  • 1301 S. East St., Richmond, Ind., a 14,737-square-foot, single-story building built in 1950. According to Mission it is ideally suited for a buyer open to acquiring a well-located commercial property at a low basis with an eye toward redevelopment.
  • 1920 S. Hoyt Ave., Muncie, Ind., a 60,072-square-foot, two-building retail/commercial property. The two properties include a single-story, 45,000-square-foot building, constructed in 1978, and a two-story commercial building, which was built in 2017 and measures about 15,000 square feet.

Mission Capital Advisors is a diversified real estate solutions firm with offices in New York, Florida, Texas, California and Alabama.

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CWCapital Winding Down BACM 2007-2; Puts All Remaining Assets Up For Sale

November 30, 2018

Special servicer CWCapital Asset Management is winding down Banc of America Commercial Mortgage Trust, 2007-2, having placed all of the deal’s 11 remaining assets, with a balance of $172.8 million, up for sale through its RealInsight Marketplace.

The transaction was issued in May 2007, backed by 185 loans with a balance of $3.2 billion. Since then, 53 loans were liquidated with losses totaling $308.6 million, or 9.73 percent of the deal’s original balance. Those losses have wiped out all of the CMBS deal’s bond classes subordinate to and including E, which originally was rated A+ by S&P and Fitch Ratings. In addition, the transaction has accumulated $32 million of interest shortfalls that are hitting classes B and below.

The deal’s balance is well more than the 1 percent that would trigger a clean-up call. But all 11 remaining assets are delinquent and in special servicing, so they’re not generating income. Instead, they’ve become a burden. Master servicer KeyCorp Real Estate Capital Markets continues to make advances against them in order to ensure that bond investors continue to receive their scheduled payments. But the appraised value of each of the loans’ underlying assets has declined since the deal was issued. As a result, a total of $114.8 million of appraisal reduction amounts have been lodged against the collateral pool.

CWCapital has enlisted Mission Capital Advisors to handle marketing for the deal’s remaining assets. The New York advisory shop has started distributing offering material to prospective investors and will take offers for individual assets through the RealInsight Marketplace online platform on Dec. 3-5.

The deal’s largest remaining asset is the $119.5 million loan against the Mall of Acadiana in Lafayette, La., a 1.6 million-square-foot shopping center owned by CBL & Associates Properties, but that’s being overseen by a receiver, Spinoso Management Group of North Syracuse, N.Y. An online auction for the property, of which 299,349 sf serves as collateral for the loan, will take place Dec. 3-5. A starting bid of $24 million has been set. The property last was appraised in May at a value of $45.9 million.

Also on the sales docket on Dec. 3-5 is the 160 room Wyndham Garden Inn, the former Radisson Phoenix at 3600 North 2nd Ave., which previously had backed a $9.7 million loan. The property, which last was appraised in January at a value of $2.8 million, has operated at a 54 percent occupancy level for the 12 months through September and generated an average daily room rate of $97.46, for revenue per available room of $52.64.

Most recently, Mission Capital started marketing four foreclosed retail properties that had been occupied by Marsh Supermarkets until its bankruptcy last year and that had backed $13.7 million of loans.

The four stores are all in Indiana, with the biggest at 3825 State Road 26 East, which has 80,064 sf and sits next to a Sam’s Club in Lafayette, which is about 60 miles northwest of Indianapolis.

The others are:

  • 10901 East Washington St., with 80,000 sf near the Washington Plaza Mall in Indianapolis;
  • 1920 South Hoyt Ave., with 60,072 sf, and 3910 West Bethel Pike, with 50,042 sf, both in Muncie, which is about 60 miles northeast of Indianapolis, and
  • 1301 South East St., with 14,737 sf in Richmond, which is about 70 miles east of Indianapolis and 70 miles north of Cincinnati.

The properties recently were appraised at a combined $3.4 million. Starting bids for each property is set at $100,000.

Two other notable retail assets in the BACM 2007-2 collateral pool are the $13.3 million loan against the Davisville Shopping Center, with 98,508 sf in the Philadelphia suburb of Warminster, Pa., and the 134,276-sf Parkway Shopping Center in Allentown, Pa., which had backed a $9.6 million loan and is now classified as real estate owned.

The Davisville property is 83.8 percent leased and anchored by an Acme supermarket, which leases nearly 53,000 sf through August 2021, but the grocer long ago vacated its space. The property, which is contaminated by perchloroethylene from a former dry cleaner tenant, last appraised at a value of $8.9 million. The starting bid for the loan is $1.75 million.

The Parkway center, meanwhile, is 51.8 percent occupied by tenants that include Family Dollar, which occupies nearly 10,000 sf under a lease that matures at the end of next year, and IHOP, which leases 4,300 sf through April 2025. The property was appraised last May at a value of $8.8 million. Opening bid is set at $2.9 million.

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Mission Capital Advisors selling five vacant retail properties in Indiana

December 4, 2018

Mission Capital Advisors’ Asset Sales Group is marketing five separate vacant Indiana retail properties. The five properties range in size from 14,000 to 80,000 square feet, and are located in Indianapolis, Richmond, Muncie and Lafayette, Indiana.

The Mission Capital team of Will Sledge, Kyle Kaminski and Rob Beyer is marketing the offerings on behalf of the seller, a CMBS special servicer. Each of the properties will be auctioned individually on the RealINSIGHT Marketplace platform, with the bidding window opening on Dec. 3 and closing on Dec. 5.

All five of the properties were previously occupied by the Marsh grocery chain – or its LoBill Foods brand – which filed for bankruptcy protection in 2017 and was subsequently liquidated. All five of the buildings are fully vacant.

The properties include:

  • 10901 East Washington Street in Indianapolis is an 80,000-square-foot, single-story retail property. Constructed in 1992, the building sits on an eight-acre lot, and is ideally located just east of the Washington Plaza Mall, and is surrounded by a wide range of national tenants including Walmart, Dairy Queen, Arby’s and GameStop. The property is also within minutes of Interstates 70 and 465. The property has a starting bid of $100,000.
  • 3825 State Road 26 East in Lafayette is an 80,064-square-foot, single-story, big-box retail property. The structure was built in 1995 and is situated on a 12-acre lot adjacent to a Sam’s Club and across the street from the Lafayette Pavilions local shopping mall. The property is situated in a prime enclave of Lafayette, surrounded by a largely residential neighborhood that also features several hotels and numerous retail and dining options. The property has a starting bid of $100,000.
  • Built in 1980, 3910 West Bethel Pike in Muncie is a 50,042-square-foot, single-tenant property in a prime area that features a range of shopping and dining options. With convenient local access, the property is ideally suited for retail uses, and housed a short-term Halloween-focused retailer this fall. Located approximately two miles from Ball State University, in an area marked by significant tech job growth, the property should generate significant leasing interest from national and local tenants looking to expand in one of Muncie’s strongest retail submarkets. The property has a starting bid of $100,000.
  • 1301 South East Street in Richmond is a 14,737-square-foot, single-story building. The single-tenant structure was built in 1950 and is ideally suited for a buyer open to acquiring a well-located commercial property at a low basis with an eye toward redevelopment. The property has a starting bid of $50,000.
  • 1920 South Hoyt Avenue in Muncie is a 60,072-square-foot, two-building retail/commercial property. The two properties include a single-story, 45,000-square-foot building, constructed in 1978, and a two-story commercial building, which was built in 2017 and measures approximately 15,000 square feet. The layout of the property affords an investor flexibility for either single-tenant or multi-tenant usage. The property has a starting bid of $100,000.
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With occupancy of 43 percent, office-industrial complex offers investors an income-producing asset with room to add significant value.

ELGIN, Ill. (November 5, 2018)

Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Asset Sales Group is marketing the Leslie Oaks Business Center, a 255,304-square-foot office and industrial complex located at 580-735 Tollgate Road in Elgin, Illinois. The Mission Capital team of Will Sledge, Kyle Kaminski, and Rob Beyer is marketing the property on behalf of the seller, a CMBS special servicer. The property will be auctioned on the RealINSIGHT Marketplace platform, with the bidding window opening on November 12 and closing on November 14.

The eight buildings that make up the property were constructed between 1988 and 1999 on two neighboring, but non-contiguous, parcels within the Tollgate Industrial Park. Close to 90 percent of the property’s square footage is office space, with the remaining space optimized for warehouse use. The complex has a diverse array of 14 national, regional, and local tenants, including Staples, National Louis University, Zimmer Biomet, and Clinical Computer (OBIX). The property is just over 43-percent occupied, providing buyers with room to add significant value for a fairly modest investment.

“We expect to receive a lot of interest from opportunistic, value-add buyers who recognize the favorable market dynamics,” said Kaminski. “With a strong foundation of in-place tenants, many who have been at the property long term, the complex will deliver immediate cash flow to the buyer. The property has an ideal location at the interchange of Route 31 and Interstate 90, and this excellent access should help a buyer tenant the property and in turn achieve outsized returns on their investment.”

The complex features ample parking, tenant-controlled HVAC, and close proximity to local restaurants and hotels. The warehouse space features 12.5’ clear heights, 13 drive-in doors, and six dock-high loading entrances.
“Several major tenants recently signed lease renewals, underscoring the property’s significant attraction to office and industrial tenants,” said Kaminski. “With the combination of numerous long-term tenants and the opportunity to create additional value, this property will be a ‘can’t-miss’ investment for value-add buyers who know the local market and want to acquire an asset at an attractive basis.”

Located in a well-performing submarket in northwestern Chicagoland, the offering is situated near Interstate 90, Route 31, Interstate 290, and Interstate 355. The property is located in the Chicago Metropolitan Area, spanning across Illinois, northwest Indiana, and southeast Wisconsin, which is home to over 9.6 million people.

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.

Mission Capital Markets Elgin Complex for Special Servicer

November 9, 2018

Mission Capital Advisors’ asset sales group is marketing the Leslie Oaks Business Center, a 255,304-square-foot office and industrial complex in Elgin, IL. The Mission Capital team of Will Sledge, Kyle Kaminski and Rob Beyer is marketing the property on behalf of a CMBS special servicer.

The eight buildings comprising the property were constructed between 1988 and 1999. Nearly 90% of the complex’s square footage is office space. The property is just over 43% occupied, providing buyers with room to add significant value.

“We expect to receive a lot of interest from opportunistic, value-add buyers who recognize the favorable market dynamics,” said Kaminski. “With a strong foundation of in-place tenants, many who have been at the property long term, the complex will deliver immediate cash flow to the buyer.”

The property will be auctioned on the RealINSIGHT Marketplace platform, with the bidding window opening on Nov. 12 and closing on Nov.14.

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255,000-SF Office and Industrial Complex in Suburban Chicago Hits the Market


November 9, 2018

Mission Capital Advisors is marketing the Leslie Oaks Business Center, a 255,304-square-foot office and industrial complex located at 580-735 Tollgate Road in Elgin, Illinois. The eight buildings that make up the property were constructed between 1988 and 1999 on two neighboring, but non-contiguous, parcels within the Tollgate Industrial Park.

The Mission Capital team of Will Sledge, Kyle Kaminski and Rob Beyer is marketing the property on behalf of the seller, a CMBS special servicer. The property will be auctioned on the RealINSIGHT Marketplace platform, with the bidding window opening on November 12 and closing on November 14.

Close to 90 percent of the property’s square footage is office space, with the remaining space optimized for warehouse use. The complex has a diverse array of 14 national, regional and local tenants, including Staples, National Louis University, Zimmer Biomet and Clinical Computer (OBIX). The property is just over 43-percent occupied, providing buyers with room to add significant value for a fairly modest investment.

“We expect to receive a lot of interest from opportunistic, value-add buyers who recognize the favorable market dynamics,” said Kaminski. “With a strong foundation of in-place tenants, many who have been at the property long term, the complex will deliver immediate cash flow to the buyer. The property has an ideal location at the interchange of Route 31 and Interstate 90, and this excellent access should help a buyer tenant the property and in turn achieve outsized returns on their investment.”

The complex features ample parking, tenant-controlled HVAC and close proximity to local restaurants and hotels. The warehouse space features 12.5-foot clear heights, 13 drive-in doors and six dock-high loading entrances.

“Several major tenants recently signed lease renewals, underscoring the property’s significant attraction to office and industrial tenants,” said Kaminski. “With the combination of numerous long-term tenants and the opportunity to create additional value, this property will be a ‘can’t-miss’ investment for value-add buyers who know the local market and want to acquire an asset at an attractive basis.”

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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