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8/30/23
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Northport Business Center, a 127.1k sf, six-building industrial park in North Las Vegas, was acquired by Rising Realty Partners in a $23 mil ($181/sf) deal. The property, located at 3825-3985 Cheyene Ave, was sold by MCA Realty.
MCA Realty acquired the business park in September 2021. The company spent about $2 mil in capital improvements, converting functionally obsolete office space to warehouse space.
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% leased at the time of the sale.
Dan Doherty, Jerry Doty and Chase Pavlov of Colliers represented both parties in the transaction. Northport Business Center is the fourth property sold within the MCA Realty Industrial Growth Fund.
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