Matter Real Estate Group – the recently formed San Diego-based real estate development company – has announced the completion and $16.23 million sale of Matter@Craig, a 156,000 square foot Class A industrial facility in North Las Vegas. The facility was sold to Orlando-based Christie Lites, a stage lighting company with offices worldwide.
Matter, recently launched by real estate veterans Jim Stuart, Matt Root and Kevin Burke, facilitated the completion and sale of Craig, a highly amenitized distribution center located within the 1.2 million square foot Las Vegas Corporate Center at 4325 Corporate Center Drive.
“We are thrilled to have expedited the development and sale of this cutting-edge project,” said Jim Stuart. “Built specifically to address the complex demands and functions of light distribution companies, it met the multi-faceted needs of Christie Lites that had a focus on owning its real estate” The property was originally under development by Centra Property Group, LLC. Founded in May 2018, Matter acquired Craig shortly after its formation.
According to Stuart, the property was constructed with an eye on improving the surrounding area. “We are focused on being a good neighbor by developing pioneering and purposeful projects like Craig. This is a core element of our company’s progressive and forward-thinking philosophy.”
Huntly Christie, CEO of Christie Lites, said Matter@Craig was an appealing buy for multiple reasons. “This is a carefully constructed and designed facility with the location, infrastructure and logistics support we require to meet our evolving needs in this region,” said Christie, whose company provides stage lighting services on a global scale. “The Matter team was the optimum strategic partner throughout this transaction and worked closely with us to ensure we got what we needed, and then helped to rapidly close the deal.”
Longtime colleagues Root, Stuart and Burke – who together have more than 80 years of industry experience – formed Matter Real Estate Group to combine development/design, finance and operations under one roof.
By adopting a creative, entrepreneurial approach, the new firm is focused on constructing sustainable, community-centric projects throughout the Western United States from the ground up – with $325 million in development projects now underway in Dallas, Las Vegas, Los Angeles and Phoenix.
“We believe a building isn’t done until it improves the site and the community,” said Stuart. “We think we achieved this – and much more – with Matter@Craig.”
Tectonics Design Group was the architect for the project and Burke Construction Group the general contractor.
Dan Doherty, Paul Sweetland, Jerry Doty and Chris Lane of Doherty Industrial Group, Colliers International represented both seller and buyer.
About Matter Real Estate Group
Matter Real Estate Group is a real estate development company that combines practiced creativity with proven capability to execute transformative real estate projects based on opportunities and changing trends. The company combines design, construction and operating strategy under one roof, so every part of every project reflects a unified vision. Headquartered in San Diego, California, Matter focuses on developing within the Western U.S. with projects in planning or under construction in major cities including Dallas, Las Vegas, Los Angeles and Phoenix. To learn more, visit www.matterrealestate.com.