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CapRock Partners Begins Work on 1.1 msf Logistics Complex in North Las Vegas

11/10/20

CapRock Partners has begun construction on CapRock Tropical Logistics, a two-building, 1.1 msf logistics complex in North Las Vegas. CapRock Tropical Logistics will comprise two Class A buildings totaling 857k sf and 271.3k sf, and is slated for delivery in Q3 2021.

Located at 5802 and 5902 E. Tropical Pkwy, CapRock Tropical Logistics is situated on an 83-acre site that CapRock Partners assembled through the acquisition of 24 parcels from 13 owners in Q1 2020. In 2019, the firm successfully petitioned the rezoning of several of the parcels for industrial development.

“In the last few years, the North Las Vegas submarket has quickly evolved to be one of the most sought-after industrial markets in the Southwest U.S., evidenced by the recent developments, major leases, and record-breaking investment sales,” said Taylor Arnett, first vice president, acquisitions at CapRock Partners. “The demand for warehouse space has been largely fueled by consumer online shopping preferences, and the magnitude of this project reflects our confidence in both this market and our project team’s ability to deliver a class A product that attracts high-quality tenants.”

The larger building is a build-to-suit and will be occupied by an undisclosed e-commerce retailer who signed a long-term lease. The tenant will benefit from approximately 17 acres of excess land south of the building, which CapRock Partners reconfigured to meet the tenant’s exact specifications, including providing additional parking.

The smaller building is a high visibility spec development with over 1,000 linear feet of I-15 frontage and was thoughtfully designed to accommodate either a single tenant or multiple tenants. Key features include:

• 32-foot minimum clear heights
• 100% concrete truck court with 185-foot depth
• Above-standard trailer and automobile parking with 194 parking spaces and up to 57 trailer parking spaces
• 54 9-foot by 10-foot dock high loading doors and two 12-foot by 14-foot drive-in doors
• ESFR sprinkler system
• 3,000 amps 277/480V, 3-phase power

A key consideration in the selection of the site was its prime location in the North Las Vegas speedway submarket, less than a mile from both Tropical Pkwy and Speedway Blvd on/off-ramps to the I-15 fFwy. CapRock Tropical Logistics is less than 15 minutes from the Las Vegas Strip and McCarran International Airport and a one-day turnaround to the Long Beach and Los Angeles ports.

The property is surrounded by other nearby logistics and distribution facilities, including CapRock Partners’ Interchange Industrial Center, a two building, 683k sf Class A industrial complex currently under construction that is expected to be completed in Q4 2020. Other nearby high-quality industrial tenants include Amazon, UPS, Bed Bath & Beyond, Sephora, Fanatics, Lowe’s Home Improvement, Niagara Bottling, Honest Company, TJ Maxx, Paccar and Dr. Pepper Snapple Group.






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