MCA Realty, Santa Ana, Calif., recently spent $7.3 million acquiring three flex industrial and office properties in Las Vegas and North Las Vegas, expanding its Southern Nevada portfolio by 162,009 square feet. Purchases include the 54% occupied Lamb Technology Center in Las Vegas for $4.9 million or $43-per-square-foot; the 75% occupied Cheyenne West Business Center in North Las Vegas for $1.1 million or $40-per-square-foot, and a 20,000-square-foot bankruptcy auctioned building inside Patrick Business Center in Las Vegas for $1.3 million or $65-per-square-foot. “Vacancy across the valley is dropping considerably, and there is no new construction of this product type planned for the foreseeable future,” said MCA Realty Principal Tyler Mattox. “Based on these characteristics, we are confident that we will be able to stabilize and add value to the project in the coming years.”
