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California  + San Diego  + Industrial  | 

MCA Renovates, Sells Multi-Tenant Industrial Asset in North San Diego County

MCA Realty sold a 40,968 square-foot multi-tenant industrial asset in Escondido to San Diego-based Providence Capital Group for $8.25 million. MCA Realty acquired the property in November 2018 for $5.9 million and completed strategic interior and exterior renovations to increase the income profile of the asset.

The two building, 13-suite project at 2750 Auto Park Way was 80% occupied when MCA acquired it with in-place rents roughly 25% below market rates. MCA’s renovation program allowed them to increase in-place rents to market rates and lease-up vacant space.

MCA Realty’s Tyler Mattox says, “MCA’s focus is on identifying well-located properties with value-add potential, and then executing on our business plan to best position the asset. As a result, in a very short period of time we were able to attract a buyer looking for a stabilized multi-tenant industrial project with long-term growth potential, and realize a strong return on investment for our investors.”

Colliers International’s Evan McDonald represented the buyer. Colliers International’s Tucker Hohenstein, Michael Kendall and Connor Boyle advised the seller.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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