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real estate investment management | TEN CAPITAL MANAGEMENT

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 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 News

Ten Capital Management’s acquisition of Valley Creek Corporate Center featured in Commercial Property Executive

On June 12, coverage of Ten Capital Management’s acquisition of Valley Creek Corporate Center appeared in Commercial Property Executive.  The three Class A office buildings are located in a strong submarket, with 95% occupancy, long-term leases and attractive cash-on-cash returns. Commenting on the transaction, Paul DiSandro, a TCM Partner and Portfolio Manager, said, “Valley Creek has consistently been a top-performer in the market and provides the opportunity to acquire an institutional quality property at a significant discount to replacement cost in a strategic location.” Ben Adams, TCM’s CEO, adds, “We continue to stay focused and disciplined in buying excellent real estate at fair prices, and on providing an appropriate margin of safety that leaves our investors well-positioned to outperform through market cycles.” To read the full article click here.

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Josh Brown
In Press Releases

Ten Capital Management Acquires Valley Creek Corporate Center in Exton, PA for $45.3M

Three Class A office buildings in a strong submarket, with 95% occupancy, long-term leases and attractive cash-on-cash returns CLEVELAND, OHIO, June 9, 2017 – Ten Capital Management (“TCM”) today announced its acquisition of Valley Creek Corporate Center, a 259,163 square feet, Class A office complex located at 220, 222 and 224 Valley Creek Boulevard in the Exton/Malvern submarket of Chester County, Pennsylvania, close to I-95,I-476, I-76 and the recently expanded US Route 202. The seller is CS Capital Management, Inc., a real estate investment management and advisory company based in California. The Property is 95% leased to a diverse mix of high quality tenants. The five largest tenants, who make up 84% of the rent roll with a combined average weighted lease term of 6.2 years, use Valley Creek as their global corporate headquarters. The Property offers ample surface parking, food service, on-site walking trails and provides tenants with immediate…

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Josh Brown
In News

Investors chase suburban-core deals as Millennials trickle out of cities

Ben Adams, CEO of Ten Capital Management was featured in an article this month by Sondra Campanelli of Real Estate Finance & Investment titled Investors chase suburban-core deals as Millennials trickle out of cities. The article interviewed prominent commercial real estate investors about the opportunities in suburban-core as Millennials look to trade their rent payments for mortgages.  Adams says in the article, “We have tended to focus in affluent suburbs of ‘gateway cities’ in close proximity to public and private transportation. These suburbs tend to be characterized by high household incomes, high residential property values as well as high levels of educational attainment and comparatively low crime rates.”  Adams added, “When they (Millennials) do decide to form households, our hunch is that many of them will not feel so comfortable raising a family in a really cool live/work/play micro-unit that offers below par public school options.” To read the full…

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Josh Brown
In Press Releases

Ten Capital Management Sells Wind River Industrial Park in Las Vegas for $15.15M

Acquired in November 2014 for $9.1M, sale is two years ahead of original business plan and generated net IRR of 28.91% and 1.73x multiple for TCM investors CLEVELAND, OHIO, January 31, 2017 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced the sale of Wind River Industrial Park for $15.15M. The Property, located in Las Vegas, is in a highly desirable Southwest submarket, within close proximity to the Palms Hotel and one mile from the Las Vegas Strip.  The Property was sold to MCA Realty, Inc. two years ahead of TCM’s original business plan and has generated a net IRR of 28.91% and a 1.73x multiple for TCM investors. TCM exceeded original pro forma expectations with the sale, which projected a net IRR of 13.7% and a 1.63x multiple, respectively. TCM acquired Wind River in November 2014 for $9.1M. At the time of purchase,…

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TEN CAPITAL MANAGEMENT

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Beachwood, Ohio 44122
Telephone: (216) 342-9700

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