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12/05/24
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A 1031 exchange private investor paid $10.3 mil for El Camino Industrial Center, a 35.4k sf, fully occupied industrial building in Las Vegas. Built in 2023, the building sits on two acres at 6260 W. Pebble Rd.
The property includes four dock doors, 24’ clear height, two grade-level doors, ESFR sprinklers, and a build-to-suit office. It is well-located near the Blue Diamond Rd and Jones Blvd intersection with easy access to interstates 15 and 215.
Chris Lexis and Joe Leavitt with Avison Young represented the seller, a Las Vegas-based developer. James Griffis, also with Avison Young, repped the buyer in the deal. The property sold for $290 per sf and at a 5.5% cap rate.
“The industrial investment market remains strong in Southern Nevada and smaller-sized properties such as this asset are in high demand for investors and users,” said Lexis.
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