North Las Vegas Nv Real Estate - Real estate firms SunCap Property Group and GID teamed up to acquire a 26-acre site in North Las Vegas, pictured above, with plans to build a 467,000-square-foot industrial complex. (Cushman and Wakefield)
More than a year after unveiling plans for a warehouse project in North Las Vegas, a developer in North Carolina is moving forward with another project in the city.
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Charlotte-based SunCap Property Group has teamed up to acquire 26 acres of land and plans to build a 467,000-square-foot two-building industrial complex, according to a press release issued last week by project partner GID.
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Brokerage Cushman & Wakefield announced the sale of the land at the northeast corner of Cheyenne Avenue and Commercial Street for $20 million, saying it was involved in the transaction on behalf of SunCap and was hired to lease the project.
With strong leasing "fundamentals" and record low vacancy rates, Las Vegas is "a perfect fit for our growing industrial portfolio," Michael Venus, chief investment officer at GID Industrial, said in a statement.
Southern Nevada's year-long warehouse construction boom has only picked up since the pandemic began, as the coronavirus outbreak spurred a faster shift to online shopping, boosting demand for delivery buildings.
Developers completed 6.2 million square feet of industrial projects in southern Nevada last year. Almost all of them include warehouse and distribution space, most of which are located in North Las Vegas, according to brokerage Colliers International.
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At the end of last year, the industrial vacancy rate in Southern Nevada fell to just 2.3 percent, the lowest level since Colliers began keeping records in 1999, the company said.
Alderson notes that she has worked in industrial real estate since 1986 and has never seen this kind of craving for this type of property.
One of the many projects announced last year came from SunCap, which in February 2021 announced plans to build a 730,000-square-foot, six-building industrial complex in North Las Vegas with partner Diamond Realty Investments.
Mike Orr, SunCap's senior vice president, said in a statement that the "speed" of leasing at the complex has given him confidence that his new project with GID will be a sought-after real estate.
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Popular retailer Lululmeon announced on Friday the grand opening of its newest store at Green Valley Ranch in The District.
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On Thursday's earnings call with investors, Bally CEO Lee Fenton said the 35 acres in Tropicana will still be used for the Oakland A's stadium.
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Homebuilders in southern Nevada reported 580 net sales in September, up 19 percent from August but down nearly 41 percent from last September.
The company generated more than $2.3 billion in revenue thanks to revenue generated by its newest property, the Cosmopolitan of Las Vegas, as well as revenue from Aria for the full quarter.
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More than a year before the Las Vegas Grand Prix, some hotel operators were already charging hundreds of dollars more than the average weekend rate.
The Nevada Gaming Control Board is recommending approval of a financial distribution for property upgrades and bonuses for its 7,000 employees. Berkshire Estates is one of the most popular single-family residential communities in North Las Vegas! Berkshire Estates is a community featuring single-family homes by homebuilder Centex Homes. This community is located in MLS in ZIP Code 89081 and 103.
Berkshire estate homes for sale are listed below. We can provide past sales history, dates, prices, etc. of recently sold homes nearby.
If you have any questions about buying or selling Berkshire estates, please feel free to call or text directly to: 1-702-417-0884 or email: [email protected]
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And, if you haven't already, be sure to sign up for a free account so you can receive email alerts when new Berkshire estates hit the market.
Get notified when a matchlist is available. We also found more nearby listings within 2 miles of this neighborhood.
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