PHOENIX—Santa Ana-based MCA Realty has partnered with HG Capital to acquire a 72,241-square-foot industrial and manufacturing asset located at 6720 S. Clementine Court in Tempe. This is the second time the firms have partnered on an opportunistic acquisition in the Southwest.

MCA Realty has planned a comprehensive renovation of the building's interiors and exteriors to attract tenants in an increasingly tight market.

Andrew Jobst of Menlo Park-based HG Capital tells GlobeSt.com, “The asset is very well located in terms of industrial and housing. There was some deferred maintenance  that we will be addressing before a renter can occupy. The building has a fair amount of power, good clear-height, so it's appropriate for distribution, manufacturing, or both. It would be a good fit for one tenant or two.”

“We saw an opportunity to purchase an asset with a lot of potential at an attractive basis” says Tyler Mattox, a principal at MCA Realty.

Jobst adds “This investment is right in our strike zone. It's an investment in a small, well located, but underutilized asset. We also like the fact that MCA Realty is an experienced operator that we can depend on to effectively reposition the property and execute on the leasing strategy.”

Steve Sayre of JLL represented MCA Realty in the transaction.