Updated Dec 4, 2024
Lincoln Property Co. Secures 561,742 SF Preleasing Agreements In North Las Vegas
2750 Simmons Street
Building Size
561,742 SF
Asset Type
Industrial
Closing
Apr 19, 2024
About this deal
AI
The industrial property located at 2750 Simmons Street & 2300 West Carey Avenue in North Las Vegas spans a total of 561,742 square feet. The asset, part of the under-construction Windsor Commerce Park, features eight buildings ranging from 49,920 to 397,440 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Address: 2750 Simmons Street & 2300 West Carey Avenue
- Market: North Las Vegas
Clay Duvall of Lincoln Property Co. served as the landlord for the leasing agreement. The deal was facilitated by CBRE’s team consisting of Garrett Toft, Jake Higgins, Kelsey Higgins, and Kevin Higgins. Lincoln Property Co. secured two preleasing agreements, achieving over 35 percent occupancy of the industrial campus under development at Windsor Commerce Park.
Players
North Las Vegas Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93