MIG Expands Portfolio with a Mix of Western Assets
MIG Real Estate LLC recently expanded its portfolio with the acquisition of two industrial assets, one hotel, and one residential asset across Arizona and California. The 2021 acquisitions are part of an investment strategy launched by MIG last year to reposition its portfolio by acquiring and developing new projects in key markets. The three Arizona assets include Gateway Technology Commerce Center in Mesa, First Commons in Phoenix, and Sedona Real Inn and Suites in Sedona.
Gateway Technology Commerce Center is a newly constructed two-building 138,692-square-foot class-A industrial project located at 7535 East Ray Rd. Steve Lindley, Eric Wichterman and Will Strong with Cushman & Wakefield represented the seller on the transaction with Ken McQueen and Chris McClurg of Lee & Associates providing leasing advice for MIG.
First Commons is a two-building 99,528-square-foot multi-tenant industrial warehouse complex located at 4624-4635 West McDowell Rd. just north of I-10 in Phoenix’s Southeast market. Tracy Cartledge and Robert Buckley with Cushman & Wakefield represented the seller and John Pompay with Cushman & Wakefield provided leasing advice for MIG.
Sedona Real Inn and Suites is an 89-room hotel located at 95 Arroyo Pinon Dr., built in two phases in 1996 and 2006. The property was purchased off-market.
The sole California property acquired by MIG is Stone Arbor Apartment Village, an 88-unit value-add opportunity located at 612 Los Arbolitos Blvd. in Oceanside.