Downtown Office Building Sold for $2M

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MCA Realty a full service real estate investment and management company, has acquired two assets in the Las Vegas market, including the Harmon Warehouse Center, a 145,491 square-foot multi-tenant industrial building in Southwest Las Vegas, as well as the Gibson Tech Center, a 29,988 square-foot office building in Henderson, Nevada, for a combined total of $18.3 million.

“In comparison to other markets across the West, Las Vegas continues to offer value and pricing levels that are still well below former peak levels,” says Tyler Mattox, Principal at MCA Realty. “The local industrial market is in its 17th consecutive quarter of positive net absorption, and vacancy in this market dropped to 4.1 percent at the end of last year – the lowest in Southern Nevada since 2006.”

Mattox notes that the office market in Las Vegas and its Henderson submarket is also performing well, posting five consecutive years of healthy net absorption with steadily increasing lease rates.

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