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Press Releases

Josh Brown
In Press Releases

Ten Capital Management Acquires SunTech Commerce Park

Adds additional 224,359 square feet of industrial, warehouse, and flex product to its Lake Mary, Orlando submarket position CLEVELAND, OHIO, May 9, 2022 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced it has completed the acquisition of SunTech Commerce Park, a six-building, 224,359± RSF Class A flex-office/light industrial park situated on 19.3± acres located at 39-59 Skyline Drive, Lake Mary, Florida. The office services/flex market for comparable product in the area is strong, with a current vacancy rate of 6.0% for competitive product, consistently outperforming the overall Orlando MSA. The Property is positioned directly on I-4 in the heart of the Tech/Industrial corridor, offering 1,333 linear feet of prime frontage on a major east-west thoroughfare, with three points of ingress/egress from Skyline Drive and one point of ingress/egress to the south from Emma Oaks Trail. It is conveniently located just 0.2 miles from Florida’s I-4…

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Josh Brown
In Press Releases

Ten Capital Management Acquires a Portfolio of Two Class A Flex Industrial/Creative Office Assets in Atlanta

The two single-story acquisitions are in a rapidly growing, highly strategic, tech-driven, “live-work-play” locations in suburban Atlanta CLEVELAND, OHIO, October 18, 2021 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced it has completed the acquisition of two assets in suburban Atlanta — a 163,231 SF creative office complex on Peachtree Industrial Boulevard (“Peachtree”) and a 130,786 SF flex office/R&D/light industrial building on John’s Creek Court (“Johns Creek”). Both assets have reported significant leasing momentum throughout the pandemic, and are located in affluent submarkets characterized by growth, wealth, high degrees of educational achievement, and household income, and are close to amenities and robust highway systems. Somerset Properties is the Co-General Partner on the transactions. Peachtree offers highly flexible and creative open workspaces, and its location has a long-standing history of attracting and retaining technology talent. Peachtree is currently 92% leased to seven strong, long-term,…

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Josh Brown
In Press Releases

Ten Capital Management Acquires Two Conway Unifying its Position in Lake Forest’s Conway Park

Combining Two Conway with One Conway creates an amenity rich, Class A boutique offering for tenants in the northern Chicago suburbs CLEVELAND, OHIO, July 22, 2021 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced it has completed the acquisition of Two Conway in Conway Park, located in Lake Forest, IL. Pembroke IV is the Co-General Partner on the transaction. TCM acquired One Conway in November 2016 with Pembroke IV. Financial terms of the transaction were not disclosed. One Conway and Two Conway (“the Properties”) create an institutional-quality asset that offers tenants high levels of amenities and finishes. Amenities include a full-service cafeteria, Wi-Fi lounge, conference facility, fitness center, and below-grade executive parking garage. As one of the few Class A offerings in the market, each Property offers over 50,000 sf of available contiguous space to accommodate both small and larger users, allowing for…

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Josh Brown
In Press Releases

Ten Capital Management Acquires Technology Park

The Park is an industrial, warehouse and flex product comprised of five buildings and located in one of Orlando’s most desirable locations CLEVELAND, OHIO, March 11, 2021 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced it has completed the acquisition of five buildings in Technology Park (“The Property”), located at 100, 200, 250, 255 & 525 Technology Parkway in Lake Mary, FL. Somerset Properties is a Co-General Partner on the transaction. The Property is the preferred location for several health care, technology, and business services tenants, many of which have demonstrated long-term loyalty to the location, and use the Property as headquarters. The 297,386 SF, five-building flex-office/light industrial facility is in one of suburban Orlando’s most desirable business-friendly submarkets. Recent leasing activity at the Property has resulted in more than 91,000 SF of new tenants over the last 12 months. The office market…

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Josh Brown
In Press Releases

Ten Capital Management in Partnership with Somerset Properties Acquires Broward County’s Largest and Most Iconic Office Building

The 413,833 sf Class A Office Building is located in one of suburban Fort Lauderdale’s most desirable locations, and is well poised for continued growth CLEVELAND, OHIO, July 13, 2020 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced it has completed the acquisition of Bayview Corporate Tower located at 6451 North Federal Highway (“Bayview”). Somerset Properties is a Co-General Partner on the transaction. The Class A office building is in the Cypress Creek submarket of Broward County. The Property was recently renovated with over $4.8 million in base building improvements over the last three years, and features flexible floor plates that can accommodate tenant requirements ranging from 1,500sf to expansive, contemporary plans as large as 33,500sf. Onsite amenities include a café, conference center, fitness center, amenity lounge, outdoor picnic area, and on-site security and management. The Property offers a 5.0/1,000sf parking ratio in…

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Josh Brown
In Press Releases

Ten Capital Management Acquires Class A Office Building in King of Prussia, PA

The 164,360 sf Property is located in one of suburban Philadelphia’s most desirable locations well poised for continued growth CLEVELAND, OHIO, October 28, 2019 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced it has completed the acquisition of 200 North Warner (or the “Property”). The Property is located directly across the street from the King of Prussia Town Center, part of a 122 acre mixed-use development known as the Village of Valley Forge, and one quarter mile from the King of Prussia mall, providing tenants with easy access to walkable amenities. In addition to the benefits of access to retail and restaurants, the Village at Valley Forge will consist of nearly 2,500 residential units. King of Prussia Mall is the largest mall in terms of retail space in the country and offers a diverse mix of over 400 stores, including seven anchor tenants, international dining and…

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Josh Brown
In Press Releases

Ten Capital Management Acquires Three Class A Office Buildings in Jacksonville

The 417,513 sf Property is located within Jacksonville’s Butler/Baymeadows office submarket and in the A+ location of the Deerwood Park micro market CLEVELAND, OHIO, July 25, 2019 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced it has completed the acquisition of Capital Plaza (“Capital Plaza” or the “Property”), located in the highly coveted Deerwood Park market, where vacancy has averaged 5% over the past 20 years. Capital Plaza, comprised of 417,513 sf, provides tenants with first class amenities featuring a state-of-the-art fitness center, 24/7 security, market leading parking ratio of 6.2:1000 sf, and a one of a kind power redundancy system, critical to virtually all of the existing tenants. The Property is currently 87% leased to nine tenants, with a weighted average lease term of ~5.7 years. Approximately 53% of the tenancy is comprised of investment-grade tenants. Capital Plaza has immediate access to…

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Josh Brown
In Press Releases

Ten Capital Management Completes Acquisition of Class A Office in the Minneapolis MSA

The Property is at 100% occupancy with a strong corporate presence in an economy with a low unemployment rate and highly skilled workforce CLEVELAND, OHIO, March 27, 2019 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced it has completed the acquisition of Atria Corporate Center (“Atria” or the “Property”), located in Plymouth, Minnesota, a highly coveted suburb of Minneapolis. The highly-amenitized Property is a 358,941 square foot Class A, LEED Gold building, built in the late 1980’s and substantially renovated in 2017. Atria offers food service, a complimentary coffee bar, fitness center, locker room with showers, training center, updated common areas, on-site management, multi-level parking deck, and underground heated parking. The Property is located in the West submarket of the Twin Cities Office Market, a 9M sf office market with a current vacancy rate of 11% (the lowest in the Twin Cities Office…

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Josh Brown
In Press Releases

Ten Capital Management Completes Acquisition of Class A Office Building in Highly Affluent Suburb of St. Louis

575 Maryville is 97% leased to four tenants, including one of the largest commercial real estate companies in the world CLEVELAND, OHIO, January 15, 2019 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced it has completed the acquisition of 575 Maryville (or the “Property”), located in the Town and Country suburb of St. Louis, Missouri. The highly-amenitized Property is a 258,441 square foot Class A office building providing tenants with a state-of-the-art fitness center, two conference rooms, on-site dining, and structured parking. Anchored by one of the largest commercial real estate companies in the world, the Property is currently 97% leased to four tenants with a weighted average lease term of seven years. The Property is located in the prestigious suburb of Town and Country – the most affluent community in Missouri and one of the wealthiest suburbs in the U.S. Positioned in…

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Josh Brown
In Press Releases

Ten Capital Management Sells Limited Partnership Interest in Miracle Mile Retail Center in Monroeville, PA

Acquired in February of 2014, the sale has generated a solid risk adjusted return for TCM investors while providing strong cash on cash yields averaging 11.2% during the hold period CLEVELAND, OHIO, November 20, 2017 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced the sale of its limited partnership interest in Miracle Mile Retail Center in Monroeville, PA, located 13 miles east of the Pittsburgh CBD, to M&J Wilkow, Ltd in a joint venture with ALTO Real Estate Funds. The general partner was an affiliate of Pearson Partners, Inc. The sale generated a 15.8% (gross) / 14.5% (net) IRR with a 1.59x (gross) / 1.53x (net) multiple to TCM investors. The Property is a 299,894 square foot, Class-A regional power center anchored by national tenants LA Fitness, Marshalls, PNC Bank, DSW, Old Navy and Office Max.  Miracle Mile was 94% occupied upon TCM’s…

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