DERMODY PROPERTIES PURCHASED 9.49 ACRES TO BUILD LOGISTICENTERSM
Dermody Properties, a national private equity real estate investment, development and management company, has purchased 9.49 acres in Las Vegas for a new state-of-the-art facility that will be called LogistiCenterSM at Sunset. This 151,200-square-foot, e-commerce-ready property at Sunset Road and Bruce Street in Las Vegas is expected to be completed in the first quarter of 2021.
The building is under construction and will be divisible to 20,000 square feet. It will offer build-to-suit office space and feature 33 dock-high doors, six drive-in doors, 32-foot clear height, 112 car parking spaces, 135-foot truck court, LED warehouse lighting, tilt-up concrete panel construction and an ESFR fire protection system.
“LogistiCenterSM at Sunset is another Class-A logistics project in Nevada that will be designed to meet the logistics and distribution demands of mid-bay customers in this market,” said John Ramous, Nevada Partner for Dermody Properties. “This property offers both an attractive business tax climate, as well as proximity to Western markets and distribution hubs.”
LogistiCenterSM at Sunset is approximately one mile from the Interstate-215/Interstate-15 interchange, five miles from the Resort Corridor and within 10 miles of major FedEx and UPS distribution hubs. The property is adjacent to McCarran International Airport.
Kevin Higgins, Garrett Toft, Jake Higgins and Sean Zaher of CBRE represented Dermody Properties in the acquisition of land and will be the leasing agents for the project.
MATTER REAL ESTATE LEASES 50,000-SQUARE-FOOT BUILDING
Matter Real Estate Group, a development firm, has a lease with Botanic Beauty Products at Matter Logistics Center @ West Cheyenne, on the northeast corner of West Cheyenne Avenue and Valley Drive. Botanic Beauty Products, a cosmetic manufacturing company based in Las Vegas, will occupy a full building at the development with more than 50,000 square feet of space this fall.
Located in the thriving North Las Vegas Airport sub-market, Matter Logistics Center @ West Cheyenne will feature more than 725,000 square feet of both light and high-bay distribution space and will provide a new location for industrial users in an under-served area upon its completion in July. With close proximity to North Las Vegas Airport and five miles to the Las Vegas Strip, the site will service many different distribution and tourism industries including manufacturers.
“We are excited to welcome the Botanic Beauty Products team to our master-planned project,” said Tom van Betten, vice president of strategic partnerships for Matter Real Estate Group. “Our infill location is miles closer to the city center compared to many competitive industrial parks, offering savings on transportation and bringing you even closer to your greatest assets: your employees. We look forward to offering a space that allows for the continued growth of Botanic and other companies.”
Spanning 41 acres and developed at a cost of $70 million, Matter Logistics Center @ West Cheyenne will have five buildings with immediate access to multiple freeways, an expanded labor pool and more than 500,000 residents within a 5-mile radius. The master-planned center has available space ranging from 11,000 square feet to nearly 480,000 square feet across the four remaining buildings at rates of $0.48-$0.66 per square foot depending on divisibility and location.
COMPLETED SALES TRANSACTIONS
• Kevin Higgins, SIOR, of CBRE Inc. represented the seller in the sale of an 855,000-square-foot industrial building at 6001 E. Tropical Parkway to an undisclosed buyer for $110,000,000.
• A sale to PDC Reno/LV/PHX LPIV LLC. The 38.84-acre land parcel is at the corner of Bermuda Road and St. Rose Parkway (APN: 191-03-301-006) in Henderson. The transaction value $25,627,500. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, CCIM; and Jerry Doty of Colliers International represented the buyer.
• Cushman & Wakefield has announced that 6425 W. Sahara Ave., a freestanding 37,730-square-foot office building, has sold for $3,850,000 at $102.04 per square foot. The buyer was 6425 W. Sahara Propco LLC, consisting of a local investor that owns multiple assets along West Sahara Avenue. Charles Moore, Marlene Fujita and Hunter Bradshaw from Cushman & Wakefield’s Capital Markets Group served as exclusive advisor to Equity Partnership Property Management LLC in the transaction.
• Campbell Jones Cohen CPAs purchased a property at 6920 S. Cimarron Road to serve as the company’s headquarters. The $3,567,917 deal includes a low-interest SBA 504 loan facilitated by Nevada State Development Corp., a SBA 504 loan provider. Bank of the West partnered in the financing package.
“We are very pleased with the purchase of our new property,” said Gary Cambell, founder of Campbell Jones Cohen CPAs. “It’s a fantastic location, a beautiful building, and we will be putting in quite a bit of work to make it perfect for our operations. We have been steadily growing the past couple of decades and this building allows us to continue down that path.”
• A sale to MNSCO LLC. The 4,127-square-foot industrial property is at 4876 Cecile Ave. The transaction value was $485,000. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, CCIM; and Jerry Doty of Colliers International represented the seller, Old English LLC.
COMPLETED LEASE TRANSACTIONS
• Bimbo Bakeries USA LLC leased approximately 55,000 square feet of industrial space in Blue Diamond Interchange Center at 8055 Dean Martin Drive. Garrett Toft, SIOR, of CBRE represented the tenant.
• Nutra LLC leased 10,795 square feet of industrial space in Prologis Cheyenne Distribution Center at 2875 N. Lamb Blvd. Sean Zaher of CBRE represented the tenant.
• Momentum IR Inc. leased approximately 4,378 square feet of industrial space in Harmon Warehouse Center at 4301 S. Valley View Blvd. Sean Zaher of CBRE represented the landlord.
• JPE LLC leased approximately 10,795 square feet of industrial space in Prologis Cheyenne Distribution Center at 2875 N. Lamb Blvd. Garrett Toft, SIOR, of CBRE represented the landlord and Sean Zaher of CBRE represented the tenant.
• Ruby Has LLC leased 373,363 square feet of industrial space in North 15 Logistics at 6710 E. North Belt Road. Garrett Toft, SIOR, of CBRE represented the landlord.
• A lease to One Solution LLC. The approximately 103,000-square-foot industrial property is at 3450 N. Lamb Blvd., Suite 120. Eric Molfetta, MBA of Colliers International represented the lessee.
• A lease to Mayra A Valenzuela. The approximately 12,520-square-foot industrial property is in Walnut Business Park at 3020 N. Walnut Road, Suite 130-140. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, CCIM; Jerry Doty; Gabe Telles; Ryan Hendershot; and Chase Pavlov of Colliers International represented the lessor, CRP III Walnut LV LLC.
• A lease to Goosehead Insurance Agency LLC. The 7,753-square-foot office is in Stephanie Beltway Centre at 150 N. Stephanie St. in Henderson. Taber Thill, SIOR; Patti Dillon, SIOR; and Megan McInerney of Colliers International represented the lessor, Valley View Center LLC.
• A lease to Sahalee Liquor Co. LLC. The approximately 4,008-square-foot industrial property is in Civic Center at 3866 Civic Center Drive in North Las Vegas. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, CCIM; and Jerry Doty of Colliers International represented the lessor, MCA Civic Center II LLC. Mike Willmore; Dean Willmore, SIOR; Alex Stanisic; and Lauren Willmore of Colliers International represented the lessee.
• A lease to Ortiz/Granite LLC. The approximately 3,150-square-foot industrial property is in Craig and Lamb Business Center at 4364 E. Craig Road, Suite 100. Mike and Lauren and Dean Willmore, SIOR, and Alex Stanisic of Colliers International represented the lessor, Craig and Lamb LLC.
• A lease to JKM Medical Supplies LLC. The 2,258-square-foot industrial property is in Decatur Bell Commerce Center at 5010 S. Decatur Blvd., Suite D. Mike, Lauren and Dean Willmore, SIOR, and Alex Stanisic of Colliers International represented the lessor, FJM Vegas Holdings LLC.
• A lease to Nocturna Sleep Center LLC. The 1,293-square-foot office property is at 3201 S. Maryland Parkway, Suite 320. Eric Molfetta, MBA of Colliers International represented the lessee.
Keystone Automotive Industries Inc. renewed its lease of 78,920 square feet of industrial space in Golden Triangle Industrial Park at 3370 Lone Mountain Road. Kevin Higgins, SIOR, of CBRE represented the tenant.
• An undisclosed user leased approximately 170,292 square feet of industrial space in Tropical Logistics Center at 5801 N. Nicco Way. Kevin Higgins, SIOR, of CBRE represented the landlord.
• A lease renewal to Digital Express Inc. The approximately 10,000-square-foot industrial property is in Arrowhead Commerce Center (Bldg. 7) at 6295 S. Pearl St., Suite 800 & 900. Spencer Pinter; Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, CCIM; and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.
• A lease to Lala’s Style Inc. The approximately 1,100-square-foot retail property is in the Tropicana East Shopping Center at 2470 E. Tropicana Ave., Suite A. Chris Clifford; Steve Neiger, CCIM; and Brett Rather of Colliers International represented the lessor, Tropicana East Shopping Center.