Nevada is rapidly evolving, and early investors in the market are reaping the rewards. American Nevada Co. is among them. The firm has completed the disposition of a 1.2 million-square-foot office and industrial portfolio in the market for approximately $234 million. The final three properties—located at 2475, 2485 and 2495 Village View Dr. in the Green Valley Corporate Center in Henderson—traded hands to San Francisco-based JMA Ventures for $34 million.

“American Nevada Company did a great job in stabilizing the assets and had a desire to capitalize on improving market conditions and the amount of new capital wanting to invest in southern Nevada,” Brad Tecca, executive director at Cushman & Wakefield, tells GlobeSt.com about the sale. “ANC remains active in the search for investment opportunities.” Tecca represented ANC in the disposition of the portfolio.

Tecca could not comment on the returns that ANC received against its initial capital investment in these assets, but the sale attracted healthy interest from institutional capital sources, which illustrates the changing market conditions. “The portfolio included multiple assets and various investment profiles, which attracted a wide variety of investors, including a combination of larger institutional investors and private high net worth capital,” says Tecca. “Given the relative discount to other West Coast markets, improving local market fundamentals and the overall quality of the real estate, we received a significant amount of interest.” In addition to the improving local economy, investors were also attracted to the quality of the assets, according to Tecca. “ANC has a strong reputation for building best in class workplace environments,” he explains. “ANC developed each and every asset like they were to own it forever and as result did not cut any corners, delivering exceptional, high quality product. The portfolio was always well leased because of their client-first approach. These factors also enhanced investor interest.”