Oxford Companies Acquires McMullen Properties

Oxford today announced it has completed the acquisition of the McMullen Properties, a 704,000 square foot portfolio of office property located on the south side of Ann Arbor. The purchase, valued at over $100,000,000, represents the largest private commercial property transaction in the city’s history. The properties, which include 22 buildings in 3 separate business parks: Atrium Office Center, Eisenhower Commerce Center, and Valley Ranch Business Park, now bring more than half of Ann Arbor's Briarwood office market into the Oxford portfolio.

The area is part of the south office market, the city's largest at 3.4 million square feet, and also includes buildings south of I-94. Developed over 40 years ago by long-time community benefactor, Tom McMullen, the portfolio is 98% occupied by tenants such as University of Michigan, St. Joe’s, Nexient, and Google. The landmark deal, a rarity for Ann Arbor, was brought to fruition by Oxford CEO, Jeff Hauptman who raised $22,000,000 from 60 investors to close the transaction.

“The acquisition process was the longest and most complicated we have experienced. We started analyzing the properties over a year ago,” said Hauptman. “We think there is a huge opportunity to be a driver of the area’s long-term growth. A consolidation of ownership in south Ann Arbor will give us the ability to be a stronger leader in areas of transportation, land use, and place making.”

Oxford, which has more than 2 million square feet under management, is the largest Ann Arbor commercial property manager. Besides its office properties — such as the Burlington Office Center on Eisenhower, the KMS Building south of I-94 and Northeast Corporate Center on Green Road — it owns and manages the Galleria on South University and Dexter Crossing in Dexter. Over recent years, it established a student housing management operation, and now has about 550 units under management.

Oxford Companies, founded in 1998, is a premier provider of investment real estate and property management services in Southeast Michigan. The company currently manages a portfolio of more than 2,000,000 square feet valued at over $350,000,000.

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