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11/07/24
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In a Las Vegas industrial purchase, MCA Realty paid $4.25 mil in an off-market transaction for a 32k sf ($133/sf) uilding at 2124 Industrial Rd. The single-tenant property was acquired within the firm’s MCA Realty Industrial Growth Fund II, the first acquisition with this fund.
2124 Industrial Road is 100% leased to Hajoca Corporation, the parent company of Kelly’s Pipe & Supply Company. Built in 1962, the property is located less than one mile from the I-15 Freeway and is proximate to the Las Vegas Strip.
“We acquired the building for its intrinsic value, as the current lease is below market and expires in 2028,” says Tyler Mattox, Principal at MCA Realty. “In the current investment environment, we are focused on acquiring properties where we are able to add value to the underlying real estate. We believe that the Las Vegas industrial market will remain a top market for years to come with its strong fundamentals and continued growth.”
Kevin Higgins and Garrett Toft of CBRE represented both parties in the transaction.
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