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Category – Industrial Rural

Valley Industrial Market Soars in Second Quarter

IndustrialSouthern Nevada’s industrial market soared during the second quarter, with 1.4 million square feet in net absorption for mostly speculative projects, reports Colliers International’s research manager John Stater. Industrial vacancy decreased to 10.1% or almost 3% less than one year ago. Meanwhile, the weighted average asking rental rate increased to $0.53 per square foot on a triple net basis, which is 3 cents higher than one year ago. For more information, CLICK HERE.

Boulder City Self-Storage Complex Sold for $5.2 Million

Boulder City Self-Storage Complex Sold for $5.2 MillionMVP REIT and Vestin Realty Mortgage II bought the 299-unit Red Mountain Storage, on 5 acres, at 1675, 1653, and 1006 Nevada Highway in Boulder City for $5.2 million, or $17,391-per-unit, from Red Mountain Storage LLC. The two-site, 23-building self-storage complex totals 112,000 rentable square feet. The sale price equals $46-per-square-foot. The facility, which consists of 288 single-story units and 11 open recreational vehicle spaces, is over 97% occupied. MVP REIT and VRMII will each own a 51% percent and 49% stake, respectively, in a jointly managed limited liability company. 

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