{"id":1004156778,"date":"2016-10-25T02:38:07","date_gmt":"2016-10-25T10:38:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004156778"},"modified":"2020-05-14T02:32:23","modified_gmt":"2020-05-14T10:32:23","slug":"mca-realty-nabs-las-vegas-business-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mca-realty-nabs-las-vegas-business-park\/","title":{"rendered":"MCA Realty Nabs Las Vegas Business Park"},"content":{"rendered":"<p>by Evelina Croitoru<\/p>\n<div id=\"attachment_1004156780\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/sds.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004156780\" data-attachment-id=\"1004156780\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mca-realty-nabs-las-vegas-business-park\/sds\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/sds.jpg\" data-orig-size=\"778,462\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"sds\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/sds.jpg?w=778\" class=\"wp-image-1004156780 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/sds.jpg\" alt=\"Walnut Business Park\" width=\"300\" height=\"178\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/sds.jpg 778w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/sds.jpg?resize=300,178 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/sds.jpg?resize=768,456 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004156780\" class=\"wp-caption-text\">Walnut Business Park<\/p><\/div>\n<p><strong>Las Vegas<\/strong><strong>\u2014<\/strong><a href=\"https:\/\/www.mca-realty.com\/\" rel=\"nofollow\" target=\"_blank\">MCA Realty<\/a>, a full service real estate investment and management company based in Irvine, Calif., has announced the purchase of Walnut Business Park, a 92,056-square-foot, value-add industrial business park in Las Vegas&#8217; northern submarket. Located at 3020\u20133060 N. Walnut Road, the 4.32-acre master planned business park was developed in 2008. At the time of the deal, the property was roughly 90 percent occupied.<\/p>\n<p>MCA purchased Walnut Business Park for $5.1 million at a significant discount to its replacement cost and plans to reposition the asset to create long-term value. \u201cSelect value-add opportunities still exist in the Las Vegas market. The <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial\/\" target=\"_blank\">industrial market<\/a> in north Las Vegas has demonstrated a tremendous recovery over the last several years and continues to absorb space. In fact, 2016 marked the region\u2019s strongest year since 2008. This consistent economic growth, coupled with increasing demand for small and mid-bay industrial product throughout the region, makes this acquisition a logical addition to our existing portfolio,\u201d Tyler Mattox, principal at MCA Realty, said in prepared remarks.<\/p>\n<p>MCA plans to perform interior upgrades on select units and revamp some of the project\u2019s landscaping. \u201cThis asset is in need of a facelift, providing an opportunity for an improved aesthetic. By integrating a series of capital improvements, we will be able to lease up remaining vacant space, garner higher rents, and ideally increase value over time,\u201d added Mattox.<\/p>\n<p>The acquisition falls in line with the company\u2019s strategy to provide a unique insight into how to increase net operating income and maximize yield. Cathy Jones, Roy Fritz, and David Livingston Jr. with <a href=\"https:\/\/www.suncommercialre.com\/\" rel=\"nofollow\" target=\"_blank\">Sun Commercial Real Estate<\/a>, together with Dan Doherty, Chris Lane and Jerry Doty of <a href=\"https:\/\/www.colliers.com\/en-us\" rel=\"nofollow\" target=\"_blank\">Colliers<\/a> assisted in the transaction.<\/p>\n<p><em>Image Courtesy of <a href=\"https:\/\/www.mca-realty.com\/\" rel=\"nofollow\" target=\"_blank\">MCA Realty<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company plans to revamp and reposition Walnut Business Park, which was purchased at a value considerably below its replacement cost.<\/p>\n","protected":false},"author":1055,"featured_media":1004156780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,1593,21742,15],"tags":[],"class_list":["post-1004156778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-las-vegas","category-latest","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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