LAS VEGAS — NWI Vida LLC has completed the disposition of Bella Vida Apartments, a multifamily property in Las Vegas. An undisclosed buyer acquired the community for $15 million, or $208,333 per unit. Located at 1111 S. Cimarron Road, the property features 72 apartments. Devin Lee, Robin Willett, Jerad Roberts and Jason Dittenber of Northcap Commercial represented the seller in the transaction.
SPARKS, NEV. — A local ownership group has completed the disposition of Landing Self Storage & Industrial, a self-storage facility located along Interstate 80 in Sparks. A Northern California-based owner-operator acquired the asset for $5.5 million. Lockwood Landing comprises 49,100 net rentable square feet of self-storage space and 28,865 net rentable square feet of industrial space on 8.7 acres. The property features six steel-frame storage buildings and three steel-frame industrial buildings with asphalt drive aisles, plus a manager’s office and living quarters. At the time of sale, the storage buildings were approximately 84 percent occupied and the industrial buildings were 100 percent occupied. Bobby Loeffler and Tyler Skelly of The Loeffer Self-Storage Group represented the seller in the deal.
NORTH LAS VEGAS, NEV. — Newport Beach, Calif.-based CapRock Partners has started construction on CapRock Tropical Logistics, a two-building logistics complex in North Las Vegas. Located at 5802 and 5902 E. Tropical Parkway, CapRock Tropical Logistics is situated on an 83-acre site that CapRock assembled through the acquisition of 24 parcels from 13 owners in first-quarter 2020. Totaling 1 million square feet, the park will feature a 857,060-square-foot building and a 271,262-square-foot building — both slated for delivery in the third quarter of 2021. The largest building is a build-to-suit for an undisclosed e-commerce retailer that signed a long-term lease. The tenant will also utilize approximately 17 acres of excess land south of the building that CapRock reconfigured to meet the tenant’s specifications, including providing additional parking. The smaller facility will feature 32-foot minimum clear heights, a 100 percent concrete truck court with 185-foot depth, above-standard trailer and automobile parking with 194 parking spaces and up to 57 trailer parking spaces, 54 dock-high loading doors, two drive-in doors, an ESFR sprinkler system and 3,000 amps of 277/480V, three-phase power. Rob Lujan, Xavier Wasiak and Jason Simon of JLL represented CapRock Partners in the acquisition of the land and have been …
HENDERSON, NEV. — Rockstream Properties has purchased an industrial building located at 1172 Wigwam Parkway in Henderson. An undisclosed seller sold the asset for $1.3 million. Situated within Traverse Pointe Commerce Center, the property features 6,170 square feet of industrial space. Greg Pancirov and Mike De Lew of RealComm Advisors represented the buyer in the deal.
RENO, NEV. — Dickson Commercial Group (DCG) has negotiated the sale a multifamily property located at 941 S. Virginia St. in Reno’s midtown district. Leah Bader sold the property to JRK Investments LCC for $1.9 million. The 8,080-square-foot asset, Best Bet Motor Lodge, is a multifamily-converted motel asset on 0.33 acres. The number of units were not disclosed. Trevor Richardson and Chris Moton of DCG Multifamily represented the buyer and seller in the deal.
LAS VEGAS, NEV. — Strategic Storage Growth Trust II (SSGT II), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, has purchased a newly constructed self-storage facility in Las Vegas. Terms of the transaction were not released. Located at 5730 S. Durango Drive, the air-conditioned, 950-unit facility features 99,300 square feet of rentable space, camera surveillance, secured and alarmed doors, gated entry, LED lighting, ground-floor drive-up units, interior climate-controlled units with two easily accessible large capacity elevators, and covered exterior parking for RV/boats. The acquisition represents SSGT II’s first purchase in Las Vegas and the ninth property owned or managed by SmartStop in the Las Vegas market.
CARSON CITY, NEV. — Dickson Commercial Group (DCG) has brokered the purchase of a retail property located at 222 Fairview Drive in Carson City. The property traded hands for $3.2 million. The names of the seller and buyer were not released. Nick Knecht, Joel Fountain, Baker Krukow, Chris Shanks and Matt Dericco of DCG represented the buyer in the transaction. At the time of sale, Cash & Carry, formerly Smart Foodservice, occupied the 16,435-square-foot building.
LAS VEGAS — CapRock Partners has purchased a five-acre land site at 3919 E. Cheyenne Ave. in northern Las Vegas for the development of CapRock Point @ Cheyenne, a build-to-suit industrial asset. Terms of the acquisition were not disclosed. The site is permit-ready for the construction of a freestanding, 101,332-square-foot, Class A industrial building, which CapRock plans to deliver within nine months of start of construction. Tenants will have the opportunity to customize building plans for the build-to-suit spaces. Current building plans include the ability to divide the building into two units (45,507 square feet and 55,825 square feet); 13 dock-high doors; two grade-level doors; 30-foot clear heights; more than 100 parking spaces; a 132-foot truck court, including 60-foot truck apron and 53-foot truck circulation area; 2,000 amps, 227/480v, three-phase power; an ESFR sprinkler system; R-19 roof insulation; and build-to-suit office space. Mike Kendall, Gian Bruno, Chris Lane, Paul Sweetland, Jerry Doty and Dan Doherty of Colliers International represented CapRock Partners in the acquisition. Lane, Sweetland, Doty and Doherty are also overseeing leasing for the new facility.
The webinar Las Vegas Industrial Outlook — How has the Pandemic Changed the Industrial Sector in Nevada? hosted by Shopping Center Business and Western Real Estate Business, covers how industrial experts are approaching investment sales, leasing and development within the Las Vegas industrial sector in the wake of COVID-19. With shutdowns, social distancing, and the explosion of e-commerce, industrial has become essential. Shopping patterns have changed, affecting manufacturing as well as warehousing and logistics. How has the coronavirus pandemic impacted industrial activity within the Las Vegas market? What do industrial leaders expect to see in the rest of 2020 and into 2021? See a list of some topics covered below: How has the pandemic impacted industrial activity? How are rents and sales prices trending within the market? Will industrial development slow in southern Nevada or remain steady? What types of tenants are looking for space? What features are they looking for? What are the hot submarkets? What trends in industrial development are you seeing in the Las Vegas market? Panelists: David E. Waters, Lathrop GPM LLP (moderator) Erin Johnston, Copaken Brooks Andy Crimmins, Crossroads Retail Group Tyler Enders, Made in KC Dan Lowe, Legacy Development David Block, Block & Company Webinar sponsors: …
NORTH LAS VEGAS, NEV. — Colliers International | Las Vegas has arranged the purchase of an industrial and retail facility located at 1011 E. Alexander Road in North Las Vegas. Michael F. Colvin acquired the 45,659-square-foot asset from an undisclosed seller for $6.1 million. Dean Willmore, Lauren Willmore, Mike Willmore and Stacy Shapiro of Colliers represented the buyer in the deal.
