Funding & Growth Ventures has bought IDV Speedway, a 349,875-square-foot industrial constructing in Las Vegas. AEW Capital Administration paid $54.3 million for the Class A property, based on Clark County public data. JLL labored on behalf of the vendor.
IDV Speedway got here on-line within the first quarter of this 12 months at 5150 N. Sloan Lane. Funding & Growth Ventures had acquired the 19-acre improvement website in 2022 for $12.4 million, based on CommercialEdge.
At present vacant, the ability options 36-foot clear heights, ESFR sprinkler methods, two grade-level doorways, 52 dock-high doorways, 179 car parking spots and 67 trailer parking spots. The one-story constructing additionally consists of an roughly 4,200-square-foot workplace part, in addition to evaporative cooling and LED lighting within the warehouse space. Moreover, the property options an extra 1.5-acre website for additional parking areas.
IDV Speedway gives quick access to interstates 15 and 11, whereas being 12 miles from North Las Vegas Airport, 17 miles Harry Reid Worldwide Airport and 12 miles from downtown Las Vegas. The commercial asset is within the North Las Vegas submarket, in an space with tenants similar to FedEx, Amazon, Prologis, DHL and Lowe’s.
JLL Senior Managing Director Mark Detmer with the Capital Markets staff, along with Senior Managing Administrators Rob Lujan and Jason Simon with the agency’s Las Vegas Markets Group, led negotiations on behalf of the vendor.
Latest vital delas in Las Vegas
Las Vegas’ industrial gross sales quantity totaled $242.3 million through the third quarter of this 12 months, based on a CBRE report. The quantity marked a 28.9 % enhance year-over-year.
In one of many largest offers of the quarter, Ares Administration paid $78.9 million for AirPark Heights, a six-building, 339,000-square-foot industrial campus in Henderson, Nev. TA Realty bought the asset bought for $53.5 million two years in the past.
Earlier this 12 months, CapRock Companions and Ares Administration bought a 230,889-square-foot industrial campus in Las Vegas. EastGroup Properties acquired the asset for $54.8 million.
