MCA Realty has sold Northport Business Center, a 127,132-square-foot six-building industrial park located in North Las Vegas, Nevada for $23 million. The company acquired the business park in September 2021 and invested approximately $2 million into capital improvements to convert functionally obsolete office space into warehouse space.
Tyler Mattox of MCA commented “In the current investment environment we are focused on acquiring off-market properties and identifying opportunities where we can add value to underlying real estate by addressing operational and functional inefficiencies”.
Built in 2000, Northport Business Center is situated within an expanding submarket of Las Vegas with excellent access to regional demand drivers as well as national supply routes. At the time of sale it was 100% leased out. This marks the fourth property that has been sold within MCA Realty’s Industrial Growth Fund portfolio since its inception last year .
Dan Doherty led a Colliers team that represented both parties involved during this transaction
