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1/07/25
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A private investor paid $12.5 mil for Edmond Russell Triangle, a 50.1k sf ($250/sf) industrial building in Las Vegas. The property, located at 5780 Edmond St, is fully occupied by Loomis U.S.
Chris Lexis, James Griffis and Joe Leavitt with Avison Young represented the buyer, a California-based investor. The seller was a local development group. The transaction closed at a 5.4% cap rate.
“This was an off-market transaction that we secured on behalf of the investor,” said Griffis. “The buyer was in a 1031 exchange and plans to hold this asset long term.”
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