HENDERSON, NEV. — DIV Industrial, a newly formed institutional investor and developer of industrial real estate, has acquired 94 acres of land in Henderson’s El Dorado Valley submarket for the development of El Dorado Valley Logistics Center. Terms of the acquisition were not released.
Construction is scheduled to begin this summer. The 1.7 million-square-foot El Dorado Valley Logistics Center will feature two buildings, ranging in size from 600,000 square feet to 1 million square feet, with 42-foot clear heights, flat floors and an ESFR sprinkler system.
The development site is located at the intersection of Highway 95 and Roger Ray Road, providing access to the entire Las Vegas Valley. The City of Henderson recently annexed the site.
DIV’s development partners include HPA Architecture and Kimley-Horn.
Cushman & Wakefield’s Alderson Tassi team, led by Donna Alderson and Greg Tassi, represented DIV, while Amy Ogden SIOR of LOGIC Commercial Real Estate represented the seller, IndiCap, in the sale and assignment of the complex land transaction. DIV acquired the land in an unimproved condition with entitlements in process.
El Dorado Valley Logistics Center is the first significant development project for DIV Industrial, which was established in late summer 2022 by real estate veterans Nicholas Ilagan and Jessica Quesada. The minority- and woman-owned firm is actively raising capital for its first fund, which will allow for more than $2 billion of industrial development and entitlement projects throughout the Western United States.