MCA Realty Sells Recently Renovated Las Vegas Industrial Asset
- Dec 03, 2019
MCA Realty continues to be active in the Las Vegas metro. After acquiring a 358,000-square-foot business park for $42 million in August, the firm has sold Walnut Business Park, a 94,808-square-foot industrial complex in the northern part of the city. Colliers worked on behalf of the company and closed the $7.9 million deal with CapRock Partners. The property previously changed hands in 2016, when MCA acquired it for $5.2 million.
Located at 3020-3060 N. Walnut Road, the multi-tenant asset is adjacent to East Cheyenne Avenue and roughly 3 miles from Interstate 15. McCarran International Airport is approximately 10 miles away.
Built in 2008, the property was renovated and repositioned by MCA. Improvements included new signage and color, parking lot upgrades and others. The former owner also divided the asset into 16 units that average 5,700 square feet and can be sold separately as individual “air-space” condos. The two buildings feature 24-foot minimum clear height and each unit contains mezzanine space.