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TEXAS/SOUTHWEST NEWS
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Two-Building Las Vegas Industrial Property Fetches $5.1 Mil

9/21/22

Two freestanding buildings totaling 14.5k sf in Las Vegas sold for $5.1 mil, or $352/sf. The buildings, built in 1989, are located at 2829 Losee Rd.

The property includes a 4.5k sf office space and a 10k sf industrial warehouse within a 3.4-acre secured plot. The two buildings are located near the Interstate 15 interchange, proximate to North Fifth St and Cheyenne Ave.

CBRE’s Tyler Ecklund and James Griffis represented the seller, Jaramillo Trust, in the transaction. The buyer was Bob Beylik.

“This highly functional industrial campus has been home to Core & Main since 2007 and is a rare single tenant industrial opportunity offering a great credit tenant and simplicity of ownership,” said Ecklund. “Even more appealing, the property also includes a 6k sf covered storage area and meets the high demand for yard storage within the tight North Las Vegas submarket.”

According to CBRE Research, the Las Vegas industrial market saw 2.1 msf of net absorption in Q2 2022, bringing the total to 5.2 msf for the first half of the year. The overall vacancy rate also further decreased from 1.1% to 0.9%, a new record low for the Las Vegas industrial market.





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