With a name like Hangars at 5616 inquiring minds might wonder what's that all about - it's not a 3.5 lb hunk of prime meat - it's a below market $7 Million dollar acquisition from GE Capital of a 75,000 square foot property that is currently 100% vacant and includes the purchase of 5.6 acres of land at Phoenix Mesa Gateway Airport.
Whoa! Seven million dollars for about 75,000 vacant square feet that includes 22,900 sq ft of high-end office space and 5.6 acres of land?
It is being acquired by an investor with an expected commitment for approximately half of the space. Who's that investor in private hangar space who's also the owner of the largest private hangar at Scottsdale Airpark?
Another addition to the investor's portfolio with the unique amenities of this project and confidence in the growth of PMGA and the burgeoning growth of Arizona's aerospace sector as whole.
The purchase of The Hangars at 5616 was not announced online until June 8, 2015
SOUTHWEST JET BUYS BIG HANGAR SPACE AT PHOENIX MESA GATEWAY AIRPORT Posted on Jul 8, 2015 3:00 pm MDT Southwest Jet Buys Big Hangar Space
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| Spice Lee did The Right Thing |
The name 'Theory R' is meant to reflect a constant reminder to "do what is Right." As a young executive, Gary became convicted when listening to a Christian radio talk station where the guest espoused that when contemplating a business decision, it becomes readily apparent as to what "the Right Thing to Do is" if we will only ask ourselves that question. The guest referred to this as Theory R. Gary used this phrase and philosophy in his career from that day forward and was delighted to name his investment firm after it.
Theory R Properties is a west coast based investment firm that was founded in 2002 to focus on specific commercial property investments. Our strategy is to acquire and enhance unique mid-tier commercial properties ($10M to $100M) that require active management. Our capable and experienced staff directly manages the operations and improvements to all of our properties. We are 'active' not passive investors. This has resulted in increased income returns as well as significant property value appreciation.
The uniqueness of our properties is represented in ocean front, bay front, airport runway, or even unique acreage in prosperous communities such as Orange County, California; Malibu, California and Scottsdale, Arizona. We partner with the local communities with genuine interest in 'win win' scenarios for the community, our tenants and Theory R. Our philosophy is also to maintain low leverage reducing downside risk and lowering our borrowing costs. By applying our experience and expertise in active daily management of the properties, we increase the upside value and income levels of our investments. We are long term investors.
What separates us from other commercial property investment firms is our remarkably low administrative overhead, ability to negotiate and close on transactions quickly, and the absence of a 'purchase and flip' mentality. It is always our desire that the people we do business with recognize integrity in every transaction.
You can look at the other properties here > Theory R Properties
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