News

A Southern California real estate firm bought a multi-building industrial property west of the Strip.

MCA Realty announced Tuesday it purchased Equus Business Center for $42 million and plans to rename it Central Seven Commerce Center.

The seven-building complex at Desert Inn Road and Polaris Avenue spans 357,608 square feet and is 89 percent occupied, featuring more than 170 tenants, according to the news release.

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A local tire shop chain has bought a nearly 70,000-square-foot industrial building in Moorpark for $10.2 million.

Big Brand Tire and Service, an all-in-one auto repair operation, purchased the industrial site at 14401 Princeton Ave., according to a Blau Journal report.

Big Brand Tire plans to relocate its corporate headquarters, which employs about 50 people, from Camarillo to Moorpark.

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Big Brand Tire and Service, a one-stop shop for tire and auto repairs, recently purchased a 70,000-square-foot industrial building at 14401 Princeton Ave. The move will bring 50 office workers to Moorpark.

The tire wholesaler purchased the property from MCA Realty, an Orange County-based real estate investment company, for $10.23 million. The real estate firm had renovated the building’s interior offices, removed part of the building’s mezzanine space and added a truck court and loading dock to the property.

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Orange County-based MCA Realty acquired a 40,990-square-foot multi-tenant industrial asset in Escondido, CA for $5.9 million. The property, at 2750 Auto Park Way, consists of two buildings with a total of 13 suites, two of which are vacant.

MCA Realty plans to renovate the existing vacant space, as well as update individual suites as leases roll. The new owner has also planned some exterior aesthetic upgrades and increased identity signage. The property has strong street visibility, with 300 feet of frontage on W. Mission Road and 750 feet of frontage along Auto Park Way.

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The company purchased a two-building property that encompasses almost 41,000 square feet and revealed plans to renovate the existing vacant space.

MCA Realty has expanded its Southern California presence with the acquisition of a 40,990-square-foot, multi-tenant industrial asset in Escondido. The firm acquired the two-building property for $5.9 million from a private investor. Colliers International assisted the buyer in the deal.

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Las Vegas office assets are seeing healthy appreciation. MCA Realty has sold a nearly 30,000-square-foot office asset in Henderson, a submarket of Las Vegas, for double the original sales price. MCA purchased the asset in 2016 and executed a renovation project to market the property to global call centers. The price appreciation in only two years shows the growth in the Las Vegas market.

“The pricing appreciation has largely been a product of the reduction in the supply-demand imbalance in the office sector,” Tyler Mattox, principal at MCA Realty, tells GlobeSt.com. “Vacancy at quarters end was about 15%, and while this is still relatively high, it is about 50%  below vacancies from only a few years ago.  Further, Las Vegas has significant vacancy concentrated in some buildings and submarkets like the East and Central East that have significant functional obsolescence, so this dynamic skews the statistics a bit as well.”

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December 6, 2018 – MCA Realty, a full service real estate investment and management company based in Orange County, California, has acquired a 40,990 square-foot multi-tenant industrial asset in the North San Diego submarket of Escondido, California. The firm acquired the property for $5.9 million.

“WE HAVE BEEN EXTREMELY ACTIVE IN MULTIPLE GEOGRAPHIES THROUGHOUT THE WESTERN REGION OVER THE LAST SEVERAL YEARS AND ARE NOW EXPANDING OUR PORTFOLIO INTO SAN DIEGO WITH THIS ACQUISITION AND ARE LOOKING TO ACQUIRE MORE ASSETS IN THE REGION OVER TIME,” EXPLAINS TYLER MATTOX, PRINCIPAL AT MCA REALTY.

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November 16, 2018 – MCA Realty, a full service real estate investment and management company based in Orange County, California, has sold Gibson Tech Center, a 29,988 square-foot office building in Henderson, Nevada for $6.98 million.

The firm acquired the asset in late 2016 for $3.15 million, according to Tyler Mattox, Principal at MCA Realty.

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