Following the opening of its West Coast office, Atlanta-based firm marks its entry into Nevada
MDH Partners recently closed on its acquisition of Sunrise Industrial Park One and Two, a two-building Class-A multi-tenant project totaling 509,216-square-foot, located in Las Vegas. The park is currently 78% leased to 10 tenants. This acquisition marks MDH Partners’ entry into the state of Nevada and continues the momentum MDH gained during the second half of 2024. James Hwang served as the acquisition lead for MDH Partners. Bret Hardy and Andrew Briner with Newmark represented the seller.
“Sunrise Industrial Park offers an exceptional opportunity to enter the Las Vegas market and acquire a well-located and highly desirable multi-tenant asset with modern functionality and diversified tenant rent roll,” said James Hwang, Vice President at MDH Partners. “Since opening our West Coast office last year, we are extremely pleased to start 2025 by planting a flag in one of our target markets and are actively pursuing acquisition opportunities to further establish and increase our presence in other western markets, which include all major California markets as well as Salt Lake City and Reno. The Sunrise Industrial Park acquisition reflects our appetite and value-add approach as we look to implement further capital improvements and leasing strategies to stabilize the asset. As we look further into 2025, we are excited to build upon more value-add opportunities whether through vacancy, re-positionings or speculative ground up developments.”
Sunrise Industrial Park One and Two is located at 4601 East Cheyenne and 3101 Marion Drive with convenient access to I-15 and in close proximity to Harry Reid International Airport. The building park was built in 1997 and features 24-30 foot clear heights, ESFR Sprinklers, ample dock-high loading and evaporative cooling. Flexible unit configurations between 20,000 to 89,000 SF are currently available. Jerry Doty with Colliers International represents MDH for leasing.
According to JLL, the Las Vegas industrial market saw a record 13 million square feet in new construction delivered throughout 2024. In addition, the Las Vegas industrial market experienced just over 743,000 square feet of positive absorption in the fourth quarter of 2024. With signs of renewed demand in the first few weeks of 2025, market activity and deals this year are expected to outperform 2024 levels.
In 2024, the firm acquired over 9 million square feet of industrial properties in excess of $1 billion. These acquisitions spanned 30 buildings in 11 distinct markets, with the majority being in Atlanta, Austin, Chicago, Dallas, and Houston. MDH currently owns or manages approximately 35 million square feet across 30 markets in 18 states.
About MDH Partners
MDH Partners is an Atlanta-based real estate investment company managing its discretionary funds targeting industrial real estate across the United States on behalf of its institutional investors. Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $7 billion (92 million square feet) of acquisitions, developments, and asset management as an advisor and investor. For more information, visit www.mdhpartners.com
