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| Civic Center Corporate Park, 3848-3908 Civic Center Drive, North Las Vegas, NV |
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| Tyler Mattox |
Las Vegas, NV – MCA Realty, a full service real estate
investment and management company specializing in office and industrial
properties throughout the Western U.S., has completed its fifth industrial
acquisition of the 2013 calendar year in the Las Vegas market, according to Tyler
Mattox, a Principal at MCA Realty.
“Las Vegas is an extremely attractive investment market on a
relative value basis,” says Mattox. “We
are currently able to acquire assets at significant discount to replacement
cost, providing the opportunity for a yield that is not readily attainable
right now in other Western U.S. markets.”
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Arville Business Park, 4440 Arville Street
Las Vegas, NV |
With its new acquisition, Civic Center Corporate Park,
MCA Realty’s Las Vegas portfolio now encompasses 309,404 square feet of
high-quality industrial product, according to Mattox, who notes that his firm
has added over $12.8 million to its Las Vegas portfolio in the last nine months
and plans to continue acquiring properties in that market.
“The fundamentals of the Las Vegas market have not yet fully
recovered from the recent downturn, resulting in ongoing competitive pricing,”
explains Mattox. “However, the window
of time to achieve strong yields may be narrowing.
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Whitney Ranch Business Center,
1010 North Stephanie Street, Henderson, NV |
“We seek properties
with strong income characteristics, and we will continue to invest in
multi-tenant industrial properties throughout Las Vegas, Texas, Arizona and
Southern California,” says Mattox.
MCA Realty’s five industrial properties acquired in the Las
Vegas market this year include:
Acquisition #1: Civic
Center Corporate Park, North Las Vegas, Nev.
MCA Realty recently acquired Civic Center Corporate Park, an
86,216 square-foot, multi-tenant industrial business park. The property, which consists of one single
tenant building and two multi-tenant buildings split into 17 separate units,
was 56 percent occupied at the time of purchase. The property is located at 3848-3908 Civic Center Drive in North
Las Vegas, Nev
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| Dan Doherty |
Daniel Doherty of Colliers represented both the buyer
and seller in the transaction. .
Acquisition #2: Northpark
III, North Las Vegas, Nev.
MCA Realty recently acquired a 33,750 square-foot
multi-tenant industrial building in North Las Vegas. This off-market property was 60 percent occupied at the time of
purchase.
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| Danielle Steffen |
Danielle Steffen and Amy Ogden of Cushman
& Wakefield represented both the
buyer, MCA Realty, and the seller, a private investor, in the transaction. The property is located at 4436 Lawrence St.
in North Las Vegas, Nev.
Acquisition #3: Gowan
Business Park, North Las Vegas, Nev.
MCA Realty also acquired a 45,905 square-foot, 87 percent
occupied, multi-tenant industrial property located at 2237, 2257, 2267, 2277
West Gowan Road in North Las Vegas, Nev.
MCA Realty restructured all of the in-place leases during escrow.
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| Amy Ogden |
MCA Realty was represented by Rick Barron of Parcelon
in the transaction. The property was acquired from a financial institution.
Acquisition #4: Arville
Business Center, Las Vegas, Nev.
MCA Realty acquired Arville Business Center, a 45,775
square-foot multi-tenant business park located adjacent to the Strip in the
Southwest submarket of Las Vegas. The property was 84 percent occupied at the
time of purchase.
MCA Realty was represented by Kevin Higgins and Garrett
Toft of Voit Real Estate Services in the acquisition. The seller was
represented by Tim Behrendt of MDL Group. The property is located at
4440 Arville St. in Las Vegas, Nev.
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| Chris Beets |
Acquisition #5: Whitney
Ranch Business Center, Henderson, Nev.
MCA Realty recently acquired Whitney Ranch Business Center,
a 57,031 square-foot multi-tenant business park located at 1010 N. Stephanie in
Henderson, Nev.
The property was 77 percent occupied at the time of
purchase.
MCA Realty was represented by Chris Beets of Newmark
Grubb Knight Frank in the acquisition. The seller, a private investor based in
Pasadena, Calif., was represented by Jarrad Katz of MDL Group.
For a complete copy of the company’s news release, please
contact:
Jenn Quader / Judith Brower
Brower, Miller
& Cole
(949) 955-7940
