Trammell Crow Co. and Washington Capital Management, on behalf of their client, have commenced construction on Phase III of Golden Triangle Logistics Center, a 135-acre industrial development in Las Vegas.
Plans call for 600,000 square feet of space across two Class A facilities, which would bring the industrial park’s total square footage to nearly 2.9 million.
Building Four and Five are slated for completion in mid-2023 and spring 2023, respectively. Building Five secured Fasteners Inc. Southwestern Supply, a wholesaler of construction equipment and supplies, as tenant. The company will use the facility as its West Coast distribution location.
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The first phase of the project was completed in 2020, with Whitebox Technologies signing a full lease for the 350,538-square-foot Building One. Brothers Trading Co. Inc. signed a 455,350-square-foot lease at Building Two, along with ShipHero LLC, which committed to 196,652 square feet.
The second phase broke ground in 2021 and was completed in April 2022. This third facility was leased to a manufacturing company.
A significant addition to the North Las Vegas submarket
Building Four, located on the southeast corner of East Washburn Road and Statz Avenue, includes 400,371 square feet and features 36-foot clear heights, 63 dock high truck doors, two drive-in doors, and parking space for 338 cars and 74 trailers. The 202,705-square-foot Building Five, located at 2815 E. Washburn Road, will feature 36-foot clear heights, 29 dock-high truck doors, one drive in door, 127 car parking spaces and 35 parking spots for trailers. The facilities include office space and feature energy-efficient lighting and insulation and drought-tolerant landscaping to reduce water usage.
Golden Triangle Logistics Center is 11 miles north of downtown Las Vegas and has access to Interstate 15. North Las Vegas Airport is roughly 8.5 miles away. Other industrial tenants in the surrounding area include Amazon, TJ Maxx, UPS, Honest Co. and Dr. Pepper, among others. Jared Riemer, Senior Vice President with TCC, stated in prepared remarks that North Las Vegas is the largest industrial submarket in Last Vegas and as of mid-2022, only 0.3 percent of inventory was vacant, out of 60 million square feet of industrial space.
Senior Vice President Rob Lujan of JLL Capital Markets represented the tenant. Cushman & Wakefield’s Executive Managing Director Donna Alderson and Kevin Higgins, Executive Vice President with CBRE, served as leasing agents for Golden Triangle.
Trammell Crow’s industrial projects in 2022
Since the beginning of the year, TCC has initiated several industrial projects across the U.S. In January, the company closed on the acquisition of a 68-acre site in Greater Phoenix, with plans to develop a 975,000-square-foot logistics campus. Later in March, TCC entered the Idaho market with an industrial development totaling 362,000 square feet in the city of Nampa.
TCC is also developing a large project in Central New Jersey. The company has teamed up with CBRE Investment Management, on behalf of a fund it manages, to build Arsenal Trade Center, a 1.1. million industrial development slated for completion by the end of 2023.
