LAS VEGAS—MCA Realty has increased its investment in Las Vegas with the acquisition of four industrial properties.

“The Las Vegas market has demonstrated significant growth over the past 24 months,” says Tyler Mattox, a principal at MCA Realty. “Our firm began acquiring industrial assets in this market in 2011. At that time, value-add industrial product was plentiful, whereas today, an influx of capital has caused prices to increase and made opportunities more difficult to uncover.”

Mattox says investor demand has grown, and that tenant demand has strengthened meaningfully, particularly in smaller spaces under 30,000 square feet.  “The recovery in Las Vegas, like in much of the nation, was top down, with larger corporations emerging from the recession first.  Smaller companies have just recently joined in the recovery and this is manifest in a reduction in vacancy and an increase in rents across the incubator and mid-bay industrial sector,” he says.

“Our focus continues to be on acquiring industrial assets with long-term value-add potential.”

With these four recent acquisitions, MCA Realty's portfolio now encompasses a total of 14 properties and well over 600,000 square feet in Las Vegas.

MCA Realty's four acquisitions include:

Aabacus Industrial Center in Las Vegas

MCA Realty and joint venture partner Saunders Property Company (SPC) have acquired a two-building industrial complex totaling 58,240 square feet. The property was purchased for $68 per square-foot. MCA Realty plans a series of interior and exterior improvements to the property, and has subdivided the property into two distinct freestanding industrial buildings.

MCA Realty was represented by Dan Doherty, Chris Lane, Jerry Doty, and Susan Borst of Colliers International, and the seller, a special servicer, was represented by Chris Beets and Ben Mills of Newmark Knight Grubb Frank. The property is located at 3200 & 3280 West Sunset Road.

31,000 Square-Foot Multi-Tenant Industrial Building

MCA Realty also acquired a 31,000 square-foot multi-tenant industrial building at 2750 W. Brooks Avenue in North Las Vegas. Mattox notes that this property is located in the same industrial park as the Cheyenne West Business Center, which is also owned by MCA Realty. At the time of the acquisition, the building was less than 50% occupied, providing strong lease-up and value-add potential, according to Mattox. Rob Lujan of JLL assisted MCA Realty in this transaction.

26,000 Square-Foot Single-Tenant Industrial Building

MCA Realty has acquired a 26,000 square-foot single tenant industrial property near McCarran International Airport for $85 per square-foot. During escrow, MCA Realty was successful in securing a ten year lease extension with the existing tenant in the property.  MCA purchased this asset in a bankruptcy sale and was represented in the purchase by Dan Doherty and Dean Willmore of Colliers International.  The building is located at 6335 Sunset Corporate Drive.

21,807 Square-Foot Single-Tenant Industrial Building in Las Vegas

MCA Realty and joint venture partner SPC have also acquired a 21,807 square-foot single-tenant industrial building in close proximity to the Las Vegas airport for $85 per square-foot. The property is currently occupied by a manufacturer and distributer of a natural sweetener, and was purchased from a lender through a court ordered bankruptcy sale. This building is located at 2020 Pama Lane in Las Vegas. MCA Realty was represented by Danielle Steffen and Amy Ogden at Cushman & Wakefield.