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MDH Partners Acquires Sunrise Industrial Park From Link Logistics For $94 Million In Las Vegas

Property Image
SOLD
$94,000,000
Andrew Briner
Bret Hardy

Nevada

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Industrial1,018,400 SF
Sold 02/26/2025
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Property Image
SOLD

MDH Partners Acquires Sunrise Industrial Park From Link Logistics For $94 Million In Las Vegas

3101 Marion Drive & 4601 East Cheyenne Avenue

See Similar Deals
Industrial1,018,400 SF
Sold 02/26/2025
Andrew Briner
Bret Hardy
the dealplayerscompscontact
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Summary

NEVADA
Asset Type:Industrial
Price Per Square Foot:$92
Total Square Footage:1,018,400 SF
Transaction Type:Sale

MDH Partners acquired an industrial portfolio comprising two buildings located at 3101 Marion Drive and 4601 East Cheyenne Avenue in Las Vegas, NV for a total price of $94,000,000. The portfolio spans 509,216 square feet, resulting in a price per square foot of approximately $185. The transaction occurs within a market where industrial vacancy rates have reached 8.6% amid ongoing development and a slowdown in demand.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $94,000,000
  • Address: 3101 Marion Drive & 4601 East Cheyenne Avenue
  • Market: Las Vegas, NV
  • Square Footage: 509,216
  • Price Per Square Foot: $185
  • Buyer: James Hwang - MDH Partners
  • Seller: Link Logistics
  • Brokers: Andrew Briner & Bret Hardy - Newmark

This transaction marks MDH Partners' entry into the Nevada market, facilitated by brokers Andrew Briner and Bret Hardy from Newmark, representing both buyer and seller in this significant industrial deal.

Players

Bret Hardy
Newmark
Bret Hardy
18 deals$1.2B volume
BROKER
Andrew Briner
Newmark
Andrew Briner
13 deals$1B volume
BROKER
MDH Partners
MDH Partners
BUYER
Link Logistics Real Estate
Link Logistics Real Estate
SELLER

Details

SOLD
IMAGE: 02/26/2025 ADDRESS: 3101 Marion Drive & 4601 East Cheyenne Avenue MARKET: Las Vegas, NV ASSET TYPE: Industrial BUYER: James Hwang - MDH Partners SELLER: Link Logistics BROKERS: Andrew Briner & Bret Hardy - Newmark SALE PRICE: $94,000,000 SF: 509,200 ~ PPSF: $185 NOTE: MDH Partners acquired Sunrise Industrial Park One and Two, a 509,216-square-foot, two-building industrial portfolio in Las Vegas, for $94 million from Link Logistics. The acquisition marks MDH's entry into Nevada as industrial vacancy in Las Vegas climbs to 8.6% amid slowing demand and continued development.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,013,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$333,962.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$445,607.96
Annual Debt Service$5,347,295.48