Intersection Equities Acquires Mojave Industrial Park In Las Vegas For $25.5M
1601 Palm St Las Vegas, Nv 89104, Usa
$25,500,000
$145/SF
Building Size
174,847 SF
Asset Type
Industrial
Closing
Jul 20, 2023
AI
Intersection Equities & Investments has acquired Las Vegas' Mojave Industrial Park for $25.5 million. The strategic purchase includes four buildings in the infill industrial area, offering a total of 174,847 square feet of space. The park is located at the addresses of 1601 Palm Street, 1624 S. Mojave Rd, 1730 S. Mojave Rd, and 2830 Ferne Drive in Las Vegas, Nevada. With a land size of 9.1 acres, this industrial property presents strong growth potential.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $25,500,000
- Square Footage: 174,847
- Price Per Square Foot: $146
- Buyer: Intersection Equities - Eric DeWees; Equity Resource Investments
- Seller: Mojave 15, LLC
- Buyer's Representative: Erik Sexton & Camila Rosales - NAI Vegas
- Seller's Representative: MDL Group LLC
The key individuals involved in the transaction were Erik Sexton & Camila Rosales from NAI Vegas, representing the buyer Intersection Equities. On the other side, the seller Mojave 15, LLC was represented by MDL Group LLC. This acquisition marks a significant investment in the burgeoning Las Vegas industrial market, signaling confidence in the area's growth opportunities.
Players
Las Vegas Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93