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September 29, 2022
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NDL Group Inc Collects Over $5 Mil from Building Sales at Camino Al Norte Office Park in Las Vegas

9/19/22

Six grey shell office buildings totaling 33.8k sf within Camino Al Norte Office Park in North Las Vegas were sold to five private buyers in four deals worth $5.05 mil. The properties were sold by Las Vegas-based seller and developer, NDL Group Inc.

The sales included six single-story free-standing buildings at 5115, 5119, 5145, 5155, 5191 and 5195 Camino Al Norte, designed for medical and professional use. 5115 and 5119 Camino Al Norte were completed in 2020 with each building being approximately 5k sf. The remaining four buildings were completed in 2022 and average approximately 6k sf. All buildings were sold upon completion.

Camino Al Norte Office Park is located at a signalized intersection at the southwest corner of Camino Al Norte and Washburn Road, offering excellent ingress and egress. The office park is surrounded by residential developments and retail centers with national retailers and ample business services.

Michael Hsu, Roy Fritz, CCIM, and Kellie Ortiz-Thompson of CBRE represented the Las Vegas-based seller and developer, NDL Group Inc, in the transactions. NDL Group opened in 2003 specializing in commercial general contracting and commercial engineering. The company acquired the land and developed all buildings.

The Las Vegas office market continued to stabilize from the effects of the pandemic with positive net absorption of 376.9k sf in Q2 2022, up 292% from Q2 2021, according to CBRE research. The marketís overall vacancy rate decreased 200 basis points to 10.9% during the same period.




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