Commercial Real Estate
People On The Move: Michael G. Rademaker
PEOPLE ON THE MOVE
Michael G. Rademaker
MGR CEO Recognized with Prestigious Award
Michael G. Rademaker, MGR’s Founder & CEO, has recently received CoStar’s 2019 Power Broker Award. As one of the leaders in acquiring and professionally managing commercial real estate in the Inland Empire, Rademaker has been named as a CoStar Power Broker for his transaction volume in 2019 against all other active brokers in their market.
The CoStar Power Broker Award is awarded by the CoStar Group Inc., as the leading provider for commercial real estate information, analytics, and online marketplaces. The prestigious award is now in its 20th year and recently expanded to 26 new markets. The Power Broker Awards honors those who have closed the highest transaction volume in commercial real estate in their perspective markets.
Please help us in congratulating Michael Rademaker on their 2019 Power Broker Award in the Inland Empire market.
ABOUT MICHAEL
Michael G. Rademaker is the CEO/Founder of MGR Real Estate, MGR Services, and MGR Property Management. He has over 35 years of real estate sales, leasing and property management experience. MGR currently has 3 regional locations strategically located in Upland, Colton, and Victorville to service Los Angeles, Orange, Riverside, and San Bernardino Counties.
Michael leads the commercial team of sales, leasing and management professionals at MGR. His knowledge and expertise in real estate investments allow him to successfully guide a team of nearly 400 seasoned sales professionals and provides representation to a vast clientele of commercial and residential real estate investors. He has a thorough and complete knowledge of all aspects of residential and commercial real estate investments’ including multi-family, office, retail, industrial, land, apartments, hotels and restaurants, business opportunities, and other commercial properties.
Mr. Rademaker is recognized for his exceptional success in growing clients’ real estate investment portfolios and possesses the ability to provide clients with an unparalleled perspective on the local investment real estate market. Michael has an outstanding ability to thoroughly analyze commercial properties to create a successful positioning strategy that will maximize the client’s opportunities. His approach is simple; treat client investments like it’s our own – an approach that continually results in increased value to MGR clients investment portfolios.
Under his leadership, MGR Real Estate and MGR Property Management have emerged as one of the leading residential and commercial real estate sales, leasing, and management companies in Southern California.
Professional Titles
CEO/Founder of MGR Services — Est. 1983 Corporate Office – Upland, CA
CEO/Founder of MGR Real Estate — Est. 2008 Corporate Office – Upland, CA
CEO/Founder of MGR Property Management — Est. 2008 Corporate Office – Upland, CA
Professional Summary
- Owns three firms, each structured to meet the real estate needs of clients’ objectives.
- Oversees operations of three office locations: Upland, Victorville, and Colton. Each office is strategically located to service a specific region. Upland is centrally located to service the entire Inland Empire and touches the borders of the Los Angeles and Orange counties. Victorville services the entire High Desert, and Colton effectively services Riverside County.
- Both MGR Services and MGR Real Estate have a large staff of seasoned and highly skilled professionals acquired from national offices. There are currently over 350 salespersons and broker associates combined.
- REO expert – Currently handling hundreds of residential REOs with quick sales at top prices.
- Expert in brokering sales for local and international investors.
- Maintains solid relationships with real estate support services, and specialists in the fields of finance, construction, law, accounting, marketing, escrow, and title.
- MGR Property Management manages everything from residential rentals to large income properties including office buildings, retail centers, and apartment complexes. Experts in all facets of property management: leasing, maintenance, tenants, rent collection, legal, accounting, etc. Staff is comprised of highly skilled managers specifically trained to maximize clients’ investments through hands-on approach and efficiency.
- Has been performing construction management of residential and commercial properties since 1983.
Professional Achievements
- Over 35 years of servicing real estate sales and leasing and property management, with areas of expertise in investment properties such as office buildings, retail centers, industrial buildings, apartment properties, single-tenant net-lease properties, hotels/motels, multi-family and residential properties, manufactured home communities, senior housing facilities, and land.
- Spearheaded the companies’ combined growth to over 400 sales professionals that provide representation to a vast clientele of residential and commercial investors.
- Ability to provide clients with an unparalleled perspective on the local investment real estate market.
- Recognized for his exceptional success in growing clients’ real estate investment portfolios.
- Outstanding ability to thoroughly analyze commercial properties to create a successful positioning strategy that will maximize the client’s opportunities.
- Established solid relationships with numerous large national banks to successfully liquidate REO inventories.
- Consistently named one of the Inland Empire’s top brokerages by CoStar Group, a recognized leader in commercial information.
Professional Areas of Expertise
- Value Analysis & Evaluations Value Enhancement
- Property & Asset Management
- Leasing, Sales & Exchanges
- Expert and Professional Negotiation
- Value Enhancement
- Marketing & Promotion
Professional Affiliations
- NAR – National Association of Realtors
- CREOBA – Commercial REO Brokers Association
- AIR – American Industrial Real Estate Association
- CAR – California Associations of Realtors
Loan Stabilizes Riverside Neighborhood Center Featuring Ralph’s, Wells Fargo Bank, and Mix of Dining, Service, and Retail Tenants; Lenders Continue to Target Grocery Retail Allocations
Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $17 million permanent loan to refinance Magnolia Towne Center, a 133,000-square-foot grocery-anchored retail center offering 10-buildings located at 6033-6189 Magnolia Ave in the city of Riverside, Calif. The neighborhood center features a Ralph’s grocery store, Wells Fargo Bank, Restaurant, and professional services tenants. Ownership is currently in the process of leasing 27,000 square feet at the center, with retail specialists Strategic Real Estate Advisors (SRA) handling the assignment.
Gantry’s James Ruiz, Senior Director, with the firm’s Irvine production office secured the funding of behalf of the borrower, a private real estate investor. The 10-year, fixed rate, life company loan was provided by one of Gantry’s life company correspondents and features 30-year amortization and prepayment flexibility.
According to Gantry’s James Ruiz, “Neighborhood grocery-anchored retail space has remained a prioritized allocation for Gantry’s roster of life company correspondents and many other permanent debt capital sources. This is a well-managed property with experienced sponsorship that was facing a pending CMBS maturity while in the process of backfilling some space at the otherwise stabilized property. Conservative leverage, demonstrated performance, and professional management allowed Gantry to review this loan against several of our top lenders, ultimately landing on a fixed-rate permanent loan that met our client’s legacy investment goals. Notably, the borrower achieved an exceptionally low spread while successfully meeting its objective for cash out without a holdback, a testament to the strategic partnership between Gantry and our valued clients.”
The deal is one of the largest in Palm Desert over the last decade
CBRE arranged the $14 million sale ($222,222 price per unit) of 63-unit Ariana at El Paseo in Palm Desert, Calif., to Investment Concepts, Inc. CBRE’s Eric Chen, Kevin Sin, Blake Torgerson, Dean Zander and Stew Weston represented the seller, 45278 Deep Canyon Road, in the transaction.
“Our team successfully marketed this unpriced property to investors,” said Mr. Chen, executive vice president. “Our team generated multiple competitive offers resulting in the largest multifamily transaction in Palm Desert over the last eight years. The owner passed away last year, and her trustee was tasked with selling this asset. The owner has generously donated all proceeds to various charities.”
The boutique apartment homes are located at 45278 Deep Canyon Road and offer a mix of studio, one- and two-bedroom floorplans, averaging 865 sq. ft. Each unit features a fully equipped kitchen, vinyl plank flooring, oversized patios and balconies, central air and heating, and large closets. The community amenities include a resort-style pool, on-site laundry facilities, an outdoor lounge and fireplace area, a pet play area and BBQ stations.
“This immaculately maintained property is a generational quality asset in the growing Coachella Valley submarket. The Coachella Valley has seen some of the highest rent growth in all pockets of the Inland Empire in the past few years due to increased economic growth in the region. Multifamily fundamentals remain strong in the area with the restriction of supply coming into the market,” added Mr. Sin.
According to CBRE research, Coachella Valley has one of the lowest vacancy rates in the Inland Empire, at 4.3%, second only to Redlands. In the first quarter of the year, the submarket also saw a 1.9% year-over-year rent change.
Commercial Real Estate
36th Street Partners Acquires Value-Add Multi-Tenant Industrial Asset near Ontario International Airport
36th Street Partners announces today it has acquired a 17,360-square-foot (sf) multi-tenant industrial property located at 1804 to 1828 E. Elma Court in Ontario, Calif. for $3.48 million.
Built in 1982 and situated on a 1.3-acre parcel that is zoned for light industrial use, the property includes 13 units that are 100% occupied with tenants using the spaces for office and warehouse purposes.
“We saw this asset as an ideal opportunity to create value by renovating units upon lease expiration and bringing rents to market rates,” said Adam Norvell, Founder & Managing Partner of 36th Street Partners. “The property is in a coveted infill Inland Empire West location just north of Ontario International Airport with little to no new comparable product nearby due to it being cost-prohibitive. If anything, supply is decreasing as institutional groups are demolishing these smaller industrial buildings to developer larger single-tenant product.”
He noted that the property also has a condominium map in place, providing the ability to sell the units individually to small users as one potential exit strategy.
36th Street’s equity partner on the deal is JW Capital, a Los Angeles-based family office focused on real estate, media, entertainment and technology opportunities. Brian Tressen of Martin Associates represented 36th Street Partners in the transaction. The seller, a private owner, was represented by Tony Guglielmo of Allied Commercial Real Estate.
36th Street Partners is actively pursuing value-add industrial and IOS acquisitions in Southern California, ideally targeting assets valued at $10 million or more.
Norvell added, “The investment landscape will be very attractive for new acquisitions over the next 12 to 24 months. Pricing has adjusted significantly, and deals are starting to make sense in this higher interest rate environm
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