Regional Distribution Center
17.8 Acre Acre Industrial Asset | Las Vegas, NV
08.21
Acquisition Date
1.2 Years
Hold Period
$25.9M
Total Capitalization
$9M
Equity
OUR PORTFOLIO
Case Studies
Description
State of the art regional distribution center 100% occupied by a leading national plumbing distributor situated on 17.8 acres in the highly desirable Henderson submarket of Las Vegas Nevada with convenient access to I-95 and I-215. The property was originally built in 2007 and consists of 2 buildings, 104,529 SF of Net Rentable Area, 94 parking spaces, and 85% of lot available for outdoor storage.
Location
501 Parkson Avenue
Henderson, NV 78640
Opportunity + Execution
Execution: Thematic Investment | Deal Source: Off-market
- Opportunistically sourced deal off-market through a local relationship and successfully acquired at a purchase price significantly below market value
- Seller received an unsolicited offer ~10% higher than the purchase price during the contract period
- 100% occupied by a credit tenant, Ferguson Enterprises
- 17.8 acre site with only 104,529 sf of building, 13.63% lot coverage which presented the opportunity for further development upside
- The property is well positioned to capitalize on the warehousing and distribution convergence of Southern Nevada, Southern California, Northwest Arizona, and Southwest Utah.
- Drove 7.2% annual cash on cash yield over the life of the hold period