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2/05/21
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MCA Realty has collected $17.26 mil from the sales of three multi-tenant industrial buildings and a parcel of land in the Las Vegas metro area.
In the largest of the transactions, MCA Realty sold Arville Gateway Center, a 43.7k sf multi-tenant industrial asset located 4460 Arville St in Las Vegas, for $8.26 mil ($189/sf). The firm initially acquired the asset in February 2019 for $4.65 mil. Jeff Chiate, Mike Adey, Brad Brandenburg, Greg Tassi, Donna Alderson and Nick Abraham with Cushman and Wakefield represented MCA in the deal.
MCA collected $4.84 mil from the sale of 4550 and 4560 Donovan Way, a 41.2k sf, multi-tenant industrial property, consisting of two buildings in North Las Vegas. The property was 47% occupied at the time the company purchased it for $1.06 mil in 2012. Since then, they implemented a strategic capital improvement plan to the property and increased occupancy to nearly 100%, where it has remained for the last eight years.
Dan Doherty, Mike Kendall, Gian Bruno, Chris Lane, Jerry Doty and Paul Sweetland with Colliers International repped MCA as the seller.
MCA Realty also sold 2475 West Cheyenne Avenue, a 27.2k sf industrial asset in North Las Vegas, for $3.12 mil ($114/sf). The firm bought the asset in 2014 for $1.105 mil and then increased occupancy and streamlined operational inefficiencies, stabilizing the asset and increasing NOI. They made a series of capital upgrades to the property, including new exterior paint and interior renovations.
In addition to these recent industrial sales, MCA Realty also sold a 4.9-acre parcel of land in Las Vegas to CapRock Partners for $1.4 mil. The land parcel is fully entitled for multi-tenant industrial and comes on the heels of MCA’s recent sale of Walnut Business Park to CapRock Partners, a 94.8k sf industrial asset located adjacent to the land parcel.
MCA acquired the land parcel for approximately $800k, increasing its value by more than 40% and creating value for investors. Dan Doherty with Colliers International represented MCA.
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