Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Masco II Industrial Park, a 26,000-square foot industrial property located in Las Vegas, Nevada. The asset sold for $2,699,000.
The buyer, a private investor, was secured and represented by Dustin R. Alvino, First Vice President Investments in Marcus & Millichap’s Las Vegas office. Masco II Industrial Park is a 12-unit incubator, industrial property that is well-located at 4275 West Bell Drive. Alvino commented, “Industrial has been one of Las Vegas’s strongest sectors over the last 24 months. We were able to exchange our client out of a short-term, net-leased asset, located in a rural Nevada town, and into a strong industrial asset with upside potential, great barriers to entry, and limited downside risk.”