Monday, October 17, 2016

MCA Realty Acquires Multi-Tenant Business Park in North Las Vegas, NV

Walnut Business Park, Las Vegas, NV

Las Vegas, NV  (Oct. 17, 2016) – MCA Realty, a full service real estate investment and management company, has acquired Walnut Business Park, a 92,056 square-foot value-add industrial business park in the northern submarket of Las Vegas.

The firm acquired the property at a significant discount to its replacement cost, and plans to strategically reposition the asset to create long term value, according to Tyler Mattox, Principal at MCA Realty.

Tyler Mattox
“Select value-add opportunities still exist in the Las Vegas market,” says Mattox.  “The industrial market in north Las Vegas has demonstrated a tremendous recovery over the last several years and continues to absorb space.

“In fact, 2016 marked the region’s strongest year since 2008.  This consistent economic growth, coupled with increasing demand for small and mid-bay industrial product throughout the region, makes this acquisition a logical addition to our existing portfolio.”

Mattox notes that new construction for “big box” industrial product has increased dramatically over the last two years, while demand for smaller spaces continues to outpace supply. 

At the end of the second quarter of 2016, approximately three million square feet of “big box” product was under construction in Las Vegas, while new construction for smaller industrial product remains relatively nonexistent.

 “This lack of available supply for smaller multi-tenant industrial buildings is placing upward pressure on rental rates and is driving demand for assets such as Walnut Business Park,” says Mattox.

MCA Realty's principals, Tyler Mattox, Jared Gordon, and Peter Cheng, have successfully navigated a full spectrum of market conditions, and pride themselves on building and maintaining strong relationships with industry partners.

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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