Rockefeller Group, the U.S. real estate developer, owner and operator, announced today that it has purchased a 6-acre parcel in the North Las Vegas industrial submarket for $4.26 million. The company will develop Nellis Logistics Center, a 134,100-square-foot speculative distribution facility on the property, which is located at the southwest corner of North Nellis Boulevard and East Carey Avenue. Construction will begin in December.
“Las Vegas has grown into one of the top secondary industrial markets in the Western United States during the past five years. Rockefeller Group is excited to develop its first project in the region with Nellis Logistics Center, expanding our presence to Southern Nevada,” said Marc Berg, Vice President and Regional Director for Rockefeller Group’s West Region. “The Las Vegas industrial market has a limited supply of available land suitable for development, so we were fortunate to have worked with the seller to get a deal done quickly.”
The site is strategically located within a one-day drive to ten major U.S. cities and Mexico and is in close proximity to Interstate 15 and U.S. Highways 95 and 93. The building is well-sized for the market and will include 32’ clear height, 83 auto-parking stalls, and a 135’ truck court.
“The municipal agencies and civic leaders within the Las Vegas area communities have a reputation for being business-friendly and that has led companies to establish or enlarge distribution facilities there,” said James Wall, Senior Associate for Rockefeller Group. “The current supply for industrial buildings is extremely tight in the Las Vegas area markets, which has the second lowest vacancy rate in the Western United States, so we are confident that there will be strong interest in our project.”
Rockefeller Group was represented by Jason Simon and Rob Lujan of Jones Lang LaSalle’s Las Vegas office. The seller was Las Vegas-based GKT Group, who represented itself in this transaction. HPA Architecture will design the project and Martin Harris Construction will be the general contractor. Rockefeller Group’s civil engineer, Kimley Horn, has extensive experience in Las Vegas.
About Rockefeller Group:
Rockefeller Group develops, owns and operates extraordinary properties across the United States. For nearly a century, the company has delivered exceptional experiences and value creation through dedication to quality in the built environment. The company’s portfolio spans the development of office, multifamily, industrial and mixed-use projects across six geographic regions as well as significant ownership interest in and management of approximately six million square feet of world-class office space in Manhattan. Visit RockefellerGroup.com.
