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MCA Trades N. Las Vegas Business Park for $23M
MCA Realty has sold Northport Business Center, a 127,132-square-foot six-building industrial park located at in North Las Vegas, Nevada, to Rising Realty Partners for $23 million.
MCA Realty acquired the business park in September 2021. The company spent about $2 million in capital improvements, converting functionally obsolete office space to warehouse space.
MCA’s Tyler Mattox added “In the current investment environment, we are focused on acquiring off-market properties and identifying opportunities where we are able to add value to the underlying real estate by addressing operational and functional inefficiencies.”
Built in 2000, Northport Business Center is located within the expanding North Las Vegas submarket, with excellent access to regional demand drivers and national supply routes. The property was 100 percent leased at the time of the sale.
Northport Business Center is the fourth property sold within the MCA Realty Industrial Growth Fund.
Dan Doherty led a Colliers team that represented MCA Realty and the buyer in this transaction.
- ◦Sale/Acquisition
