CBRE announced Vegas Ranch LLC purchased a four-building industrial property totaling 15,700 square feet in Las Vegas’ West Henderson submarket for $4.7 million. Star Nursery will utilize the site to service their nine retail locations in Nevada.
James Griffis, Tyler Ecklund and Britney Arredondo with CBRE represented the seller, Stonestream Properties, LLC.
Located on 6.41 acres at 12885 South Las Vegas Boulevard, the property includes a 12,500-square-foot warehouse, one storage warehouse, and two additional buildings totaling 3,200 square feet. The site offers quick access to Interstate 15 via Saint Rose Parkway or Starr Interchange, allowing two-day truck servicing to the West Coast region.
“Located along the desirable South Las Vegas Boulevard, this property received strong interest and multiple offers. This industrial asset allows the new owner to acquire industrial warehouses with excess land in the West Henderson corridor, which has become a popular location,” said Mr. Griffis.
According to CBRE Research, net absorption remained positive, at over 2.4 million square feet, a 47% increase quarter-over-quarter, and a 52% increase year-over-year.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
