CapRock Partners Sells First Phase of 1.5 MSF Tropical Logistics Complex in North Las Vegas
NORTH LAS VEGAS, NEV. — CapRock Partners has completed the disposition of CapRock Tropical Logistics Phase I, a recently completed core industrial logistics facility in North Las Vegas. Terms of the sale were not released.
Phase I consists of two Class A warehouse buildings totaling 1.1 million square feet on an 83-acre site. Developed by CapRock, the two buildings are 100 percent leased to three investment-grade credit tenants, including a Fortune 100 ecommerce company.
The single-tenant building at 5802 E. Tropical Parkway features 857,000 square feet, 40-foot clear heights, 171 dock-high doors, 8,000 amps of power, 300 trailer stalls and 679 auto parking stalls. Located at 5902 E. Tropical Parkway, the second building features 271,000 square feet, 32-foot clear heights, 54 dock-high doors, 3,000 amps of power, 159 trailer stalls and 162 auto park stalls.
Cushman & Wakefield’s Jeff Chiate, Jeff Cole, Mike Adey, Ed Hernandez and Brad Brandenburg, along with JLL’s Rob Lujan, Xavier Wasiak and Jason Simon, arranged the sale.
Additionally, CapRock has broken ground on Phase II of the development, located at 6185, 6215 and 6325 N. Beesley Drive. The expansion will include Building 1 with 249,000 square feet, 28 dock-high loading doors, two drive-in doors, a 185-foot courtyard and 57 trailer stalls. The 102,000-square-foot Building 2 will offer 14 dock-high doors, two drive-in doors and 202 feet of shared truck courts. Building 3 will feature 92,000 square feet, 14 dock-high doors, two drive-in doors and 202 feet of shared truck courts. The Phase II buildings will also feature 32-foot clear heights, large truck courts, ESFR sprinklers and 362 onsite auto parking stalls.
CapRock Tropical Logistics development partners include HPA Architecture, Lee & Sakahara Architects, Layton Construction Co., Martin Harris Construction and capital partner Ares Management.