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5/14/25
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An affiliate of Panattoni Development acquired a three-property, 147.9k sf industrial portfolio in Las Vegas in a deal worth $21 mil, or $142/sf. The buildings were sold by Aristocrat Technologies.
The portfolio includes:
• 3300 Birtcher Drive: a 140k sf office and warehouse facility that has served as a national distribution and assembly center for the seller
• 3515 Birtcher Drive: a 9k sf warehouse building with yard space
• 3465 Birtcher Drive: a fully improved, one-acre paved lot previously utilized for overflow parking
Aristocrat Technologies will maintain occupancy of the property for several months while completing their transition to a larger, newer facility to accommodate their continued growth. Panattoni Development plans to rehab and reposition the properties, with the intent of leasing or selling the finished product.
Brian Riffel and Tyler Jones with Colliers represented the buyer in the deal. The seller was self-represented.
The Las Vegas industrial market has seen strong demand driven by e-commerce growth, supply chain reconfiguration, and continued population expansion. This acquisition positions Panattoni to capitalize on that demand by bringing a refreshed, well-located product to market.
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