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DEAL WATCH: MCA Realty buys two Las Vegas properties

MCA REALTY BUYS INDUSTRIAL BUILDINGS

MCA Realty, real estate investment and management company based in Orange County, California, has announced the recent acquisitions of five assets: two in Washington; two in Las Vegas; and one in Orange, California, for a total consideration of just over $71 million.

The five properties were acquired through the firm’s first fund, MCA Realty Industrial Growth Fund, LP, which met its target of $50 million in equity commitments within just three months earlier this year, resulting in approximately $130 million in acquisition capability, according to Tyler Mattox, principal at MCA Realty.

“Due to our long-established track record within the multitenant industrial space, we were able to identify, source and deploy capital to acquire these assets relatively quickly after meeting the $50 million target for the first fund in July,” Mattox said. “Drawing upon our experience in the sector, we will implement upgrades and improve operational efficiencies to enhance the properties, creating long-term value and capitalizing on high demand.”

Among the purchases was a 143,000-square-foot Las Vegas industrial park. MCA acquired the park, which is at 7350 Prairie Falcon Road in the northwest valley, for $16.205 million in an off-market transaction.

The property is 100 percent leased to three long-term tenants, according to Mattox.

During ownership, MCA will implement a series of capital upgrades to the property, including HVAC improvements, new exterior paint and landscaping.

Adam Malan and Deana Marcello at Logic Commercial Real Estate represented both parties to the transaction.

The second Las Vegas Valley purchase was a 126,000-square-foot North Las Vegas industrial park at at 3825-3985 W. Cheyenne Ave. The price was $19.15 million, according Mattox.

“The property is currently 75 percent occupied with recently vacated units having a high concentration of office build-out,” Mattox said. “We plan to subdivide the heavily improved units and renovate them to be equipped for more traditional industrial uses, in order to meet high market demand.”

COMPLETED SALES TRANSACTIONS

Kevin Higgins, SIOR, and Garrett Toft, SIOR. of CBRE Inc. represented the seller in the investment sale of

349,058 square feet of industrial buildings at 5475 & 5470 Wynn Road and 7140, 7180, 7260 and 7220 Dean Martin Drive to an undisclosed investor for $79,500,000.

Garrett Toft, SIOR, of CBRE, Inc. represented the buyer, Ball Metal Beverage Container Corp. in the purchase of 72 acres of vacant industrial land at Interstate 15 and Miner’s Mesa Access Road for $28,266,880.

• A sale to IYK Realty Corp. The 158,394-square-foot retail property is in Sahara Pavilion South at 2520-2650 S. Decatur Blvd. The transaction amount was $26,200,000.00. Al Twainy, CCIM, and Jennifer Lehr, CCIM, of Colliers International represented the buyer.

• A sale to MCA Realty. The 126,257-square-foot industrial property at 3825, 3865, 3925, 3945, 3965, 3985 W. Cheyenne Ave. in North Las Vegas, NV. The transaction amount was $19,150,000.00. Doherty Industrial Group: Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, SIOR, CCIM; and Jerry Doty, SIOR, of Colliers International represented the seller, BPP Pacific Industrial NV Non-REit Owner LLC.

• A sale to Warm Springs Industrial Owner, LP. The 9.89-acre land parcel near Sloan Road and Arville Street. The transaction amount was $5,600,500. Doherty Industrial Group: Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, SIOR, CCIM; and Jerry Doty, SIOR, of Colliers International represented the seller, Brass Cap Development.

• A sale to Overton Moore Properties. The 11.35-acre land parcel is at 30 Conestoga Way in Henderson. The transaction amount was $4,202,499. Doherty Industrial Group: Dan Doherty, SIOR;Paul Sweetland, SIOR; Chris Lane, SIOR, CCIM; and Jerry Doty, SIOR, of Colliers International represented the seller, Cambridge Industrial Park LLC.

Kevin Higgins, SIOR of CBRE, Inc. represented the seller in the sale of 8.8 acres of vacant industrial land at North Lamb Boulevard and Judson Avenue to Hopewell Development II LLC for $2,400,000.

• A sale to Lawrence C. Hill. The 5,025-square-foot office property is at 2020 W. Sunset Road in Henderson. The transaction amount was $800,000. Taber Thill, SIOR; Patti Dillon, SIOR; and Megan McInerney of Colliers International represented the seller, Las Vegas One Properties LLC.

COMPLETED LEASE TRANSACTIONS

• Terrafugia Inc. leased approximately 5,433 square feet of flex space in Hughes Airport Center at

6700 Paradise Road. Jake Higgins of CBRE represented the landlord.

• A lease to All American Convention Services for a 61-month term. The 8,205-square-foot industrial property is at 150 N. Gibson Road, Suite B in Henderson. Chase Pavlov, Gabe Telles and Ryan Hendershot of Colliers International represented the lessee.

• A lease to Arias, Sanguinetti, Wang & Torrijos LLP for a 36-month term. The 2,292-square-foot office property is within City Center West at 7201 W. Lake Mead Blvd., Suite 570. Patti Dillon, SIOR; Taber Thill, SIOR; and Megan McInerney of Colliers International represented the lessor, 7201 W. Lake Mead LLC.

• A lease to Kaplan Cottner, LLC for a 65-month term. The 3,518-square-foot office property is in the west submarket at 10091 Park Run Drive, Suite 190. Megan McInerney; Patti Dillon, SIOR; and Taber Thill, SIOR, of Colliers International represented the lessor, Albatross Partners LLC.

• A lease to TDF Inc., a Nevada Corporation for a 37-month term. The 9,850-square-foot industrial property is within Highland Industrial Center at 2910 S. Highland Ave. Chris Connell, SIOR, and Grant Traub, SIOR, of Colliers International represented the lessor, FKC Highland LLC, a Delaware limited liability company.

• A lease to All World Promotions LLC for a 36-month term. The 1,348-square-foot office property is at 11135 S. Eastern Ave., Suite 100 in Henderson, Steven D. Haynes; Megan McInerney; Taber Thill, SIOR; and Patti Dillon, SIOR, of Colliers International represented the lessee.

• A lease to Dunkin Donuts for a 188-month term. The 2,420-square-foot retail property is at 1616 E. Lake Mead Blvd. in North Las Vegas.CNR Retail: Chris Clifford; Steve Neiger, CCIM; and Brett Rather of Colliers International represented the lessee.

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