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SoCal Investor Acquires Five-Building, Value-Add Industrial Asset in Las Vegas
Orange County-based MCA Realty acquired a five-building, 83,750 square-foot, value-add industrial property in Las Vegas. The property at 4610-4650 Arville St. was traded in an off-market transaction from an undisclosed private seller.
MCA Realty’s Tyler Mattox says, “We continue to find value throughout the Las Vegas metro, and have been extremely active in the region since 2012. We like industrial properties adjacent to the strip, which continues to be a very unique demand generator.”
MCA plans to implement a capital improvement strategy at the 100% leased property, which has in-place rents considerably below the current competition.
“We feel that these capital improvements will immediately increase the value of the asset, and create an opportunity to bring rents up to market value,” explains Mattox, who notes that current rents are between 20% and 50% below today’s market.
JLL’s Rob Lujan, Jason Simon and Xavier Wasiak represented the buyer in the transaction.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
