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| Tyler Mattox |
“The Las Vegas market has
demonstrated significant growth over the past 24 months,” says Mattox.
“Our firm began acquiring industrial assets in this market in 2011. At that time, value-add industrial product was plentiful, whereas today, an influx of capital has caused prices to increase and made opportunities more difficult to uncover.”
“Our firm began acquiring industrial assets in this market in 2011. At that time, value-add industrial product was plentiful, whereas today, an influx of capital has caused prices to increase and made opportunities more difficult to uncover.”
Mattox explains that
investor demand has grown, and that tenant demand has strengthened
meaningfully, particularly in smaller spaces under 30,000 square feet.
“The recovery in Las
Vegas, like in much of the nation, was top down, with larger corporations
emerging from the recession first.
Smaller companies have just recently joined in the recovery and this is
manifest in a reduction in vacancy and an increase in rents across the
incubator and mid-bay industrial sector,” he says.
“Our focus continues to be
on acquiring industrial assets with long-term value-add potential,” Mattox
continues.
With these four recent
acquisitions, MCA Realty’s portfolio now encompasses a total of 14 properties
and well over 600,000 square feet in Las Vegas.
For a
complete copy of the company’s news release, please contact:
Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
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