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January 31, 2023
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DIV Industrial to Develop 1.7 msf Industrial Complex in Las Vegas

1/11/23

DIV Industrial has acquired 94.04 acres of land within Las Vegasí El Dorado Valley for the development of El Dorado Valley Logistics Center, a new 1.7 msf, Class A industrial complex. At completion, the cutting-edge, LEED-certified facility will establish a new distribution location in the Western U.S., providing an alternative and efficient connection point between key regional logistics hubs.

El Dorado Valley Logistics Center will feature the highest efficiency building specifications in the industry while also providing best-in-class specifications such as 42-foot clear height, super flat floors and an ESFR sprinkler system. The development will comprise of two buildings ranging in size from 600k sf to 1 msf. DIVís development partners include HPA Architecture and civil engineer Kimley-Horn.

El Dorado Valley Logistics Centerís project site was recently annexed into the City of Henderson, which offers a largely underutilized strong labor pool for future distribution and logistics-focused tenants, compared to other parts of the Las Vegas area. The development will be one of the largest ever in Hendersonís history.

Located at the cross-section of Hwy 95 and Roger Ray Rd, El Dorado Valley Logistics Centerís position in southeast Las Vegas provides efficient access to the entire Las Vegas Valley via its proximity to the I-11, I-215 and I-15 freeways. It also provides multiple alternative routes for trucks traveling from Californiaís port markets looking to bypass traffic on the I-15 freeway via Highway 95.

The Alderson Tassi Team, led by Donna Alderson and Greg Tassi, of Cushman and Wakefield, represented DIV in the transaction. DIV acquired the projectís land site in an unimproved condition with entitlements in process. Project groundbreaking is anticipated in summer 2023.

The acquisition kicks off the first significant development project for DIV Industrial, which was established in late summer 2022 by real estate veterans Nicholas Ilagan and Jessica Quesada. As a minority- and woman-owned firm, DIV focuses on prioritizing diversity, equity and inclusion (DEI) initiatives and implementing responsible environmental, social and governance (ESG) practices within its industry. With an institutional investment approach, the boutique firm targets new development and investment opportunities in select markets in the Western and Southwestern U.S. DIV is actively raising capital for its first fund, which will allow for more than $2 bil of industrial development and entitlement projects throughout the Western U.S.

The Las Vegas metropolitan statistical area (MSA) is an important logistics hub east of Southern Californiaís port markets, servicing approximately 20% of the U.S. population within a dayís drive. Yet, large land acquisition opportunities for new development have become rare due to the land constraints from the U.S. Bureau of Land Management.




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