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McCuen Properties was selected through a public competition to manage the development of Mather Field, a 5,800-acre decommissioned Air Force base, through a public/private partnership with Sacramento County. McCuen Properties introduced an economic strategy unusual for military base conversions: demolishing most existing buildings and selling the land at market rate to private developers. Twelve million dollars was invested in landscape architecture to re-brand and modernize the property and backbone infrastructure. The finance strategy to accomplish these improvements was created by McCuen Properties. As development manager, McCuen Properties markets, leases, and provides property and asset management for existing buildings; and has managed the development of new construction at Mather Commerce Center, the first phase of the conversion effort. The entrepreneurial approach adopted by McCuen Properties has proven successful. In less than half the time originally projected to complete the sale of all property at Mather Commerce Center, 80% of the property was sold to private developers. The U.S. Department of Defense identifies Mather Commerce Center as one of the nation's most successful conversions of a military base to civilian use.
Significant income tax credits are available to businesses operating at Mather through its designation as a Local Agency Military Base Recovery Area (LAMBRA). Up to $1,500,000 per year in tax credits can be earned for eligible equipment purchases and up to 50% of qualified employee wages over five years. County and State agencies will assist Mather businesses in locating, screening, hiring, and training their new employees.
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McCuen Properties is developer of this 95,000-square foot office building, which will be completed by Summer 2004. Like its twin, the building offers large, efficient floor plates, state-of-the-art energy efficient HVAC systems, low-E glass, on-site power, prominent signage, three fiber optic providers, and additional parking for high intensity users. This Class A office building currently is available for lease. As developer, McCuen Properties obtained entitlements, arranged financing, defined the project's scope and aesthetic character, managed construction, and will lease, own and serve as property manager.
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McCuen Properties built Aerojet's first 100,000 square feet of office buildings and later assisted Aerojet in determining the highest and best use for the company's 13,000-acre property in Folsom. As part of this process, McCuen Properties managed a constraints analysis to determine development potential. On behalf of Aerojet, McCuen Properties master planned a 25-acre office development on Folsom Boulevard and a 3,500-acre mixed-use development on the corner of Sunrise and Douglas Boulevards. McCuen Properties also leased and managed tenant improvement construction for 250,000-square feet of office space for Aerojet. As development manager, McCuen Properties advised Aerojet on a range of complex issues, including land planning, infrastructure planning, economic studies, aggregate mining evaluations, and toxic remediation strategies.
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