CA Industrial (“CA”) today announced the groundbreaking of its Nellis Landing Logistics Center in Las Vegas, Nevada. The one-building, 408,566-square-feet development is the product of a joint venture partnership between CA Industrial and DWS and is scheduled for July 2023 completion.
“A leading financial, commercial and cultural center for Nevada, the Las Vegas MSA has become a hub for industrial and logistics space given its booming economy and location relative to the Southwest distribution network, and in 2021, the area reached historic levels of demand driven by consistent occupancy growth,” said Joe Trinkle, executive vice president and Southwest market officer for CA Industrial. “Nellis Landing fits squarely into our portfolio of best-in-class industrial and logistics assets, boasting a prime location offering convenient access to major cities and distribution hubs including Southern and Northern California, Phoenix and Denver,” added Michael Podboy, president of CA Industrial.
The modern, multi-tenant class A+ distribution/logistics facility is situated within the Speedway area of the North Las Vegas submarket – the epicenter of ecommerce and logistics in the Southwest region. This location provides convenient access to the I‑15 freeway via the new interchange at Tropical Parkway and to regional and local distribution routes including the West Coast and Mountain regions. “Providing our investors access to best-in-class projects in markets with excellent fundamentals like Las Vegas is central to the mission of our industrial platform,” added Mike Nigro, chief investment officer of real estate for the Americas at DWS Group.
Building features include 36-foot clear heights, 62 dock doors, 185-foot truck courts and 248 auto parking spaces. Martin-Harris Construction serves as general contractor for the project and CBRE’s Kevin Higgins, SIOR, and Jake Higgins serve as leasing brokers for the building.
Since inception, CA Industrial has closed transactions totaling approximately $1.2 billion of project costs and has more than 10.3 million square feet of industrial space currently under development in key US markets including in Phoenix, Dallas, Orlando, Atlanta, Savannah, Columbus and Indianapolis. CA Industrial operates alongside Centris Industrial, Inc. (“Centris”), an externally managed private real estate investment trust (REIT) created to strategically invest in speculative ground-up industrial and logistics projects across the United States.