Cushman & Wakefield today announced a $3.7M land sale in Las Vegas, NV for an industrial development. Jennifer Levine, Director of Industrial and Elizabeth Moore, Director of Industrial with Cushman & Wakefield represented the sellers, Jupiter Golf Co Las Vegas LP.
The property is located at 70 W Craig Road, North Las Vegas, NV 89032. The buyers were Huntington Industrial & Polk Street Industrial. The plan for the 19.5 acres is to build an industrial development that will include a 340,000 multi-building spec industrial park.
“This area of northern Las Vegas has seen a great deal of industrial development in recent years and will continue to be important to the region as a rapidly growing hub for warehousing, manufacturing and distribution.” said Levine. “What makes this somewhat rare is it is a redevelopment. The property had been most recently used for entertainment, but is now slated for industrial use, bringing more jobs to the area with one to four tenants per building.”
The new owners are expected to break ground in the fall of this year and they anticipate the property to be available for occupancy in the second quarter of 2019.
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Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.