The Las Vegas office of Cushman & Wakefield | Commerce today announced a long-term industrial lease for the office/warehouse facility located at 4524 Lawrence Street in North Las Vegas, Nevada 89031 to the Shred-It Corporation. The property was built in 1998 for the U.S. Corp of Engineers and the U.S. Army Reserves. Curtis Sanders, Director with Cushman & Wakefield | Commerce, exclusively represented the landlord and was the listing broker of the property.
“The building was so well suited for the tenant that the landlord will deliver the facility in ‘turnkey condition,’” said Michael Dunn, Market Leader for the Las Vegas office of Cushman & Wakefield | Commerce. “This transaction also reflects an upward trend regarding lease terms.”
The lease term is for ten years (with “options”), and the monthly base rent is $0.75 per square foot. The building itself is 22,000 square feet and will be used for shredding and recycling of confidential documents. The property is located in close proximity to Interstate-15 Freeway. The building is situated on 1.24 acres of fenced land. The approximate consideration for this lease is $2,376,000.00