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Strongbox Development Sells Strongbox Lamb Industrial Center To National Cabinetry Manufacturer For $16.5M

Property Image
SOLD
$16,500,000
Sean Zaher
Bryan Houser

Nevada

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Industrial89,284 SF
Sold 09/10/2024
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Property Image
SOLD

Strongbox Development Sells Strongbox Lamb Industrial Center To National Cabinetry Manufacturer For $16.5M

2770 North Lamb Boulevard

See Similar Deals
Industrial89,284 SF
Sold 09/10/2024
Sean Zaher
Bryan Houser
the dealplayerscompscontact
Contact now

Summary

NEVADA
Asset Type:Industrial
Price Per Square Foot:$184
Total Square Footage:89,284 SF
Transaction Type:Sale

The asset involved in the transaction is an industrial property located at 2770 North Lamb Boulevard in Las Vegas, NV. The sale was finalized on September 10, 2024, for a total amount of $16,500,000. The property encompasses 4.5 acres and features an 89,284-square-foot Class A warehouse that was completed in August 2024. The price per square foot is $185.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $16,500,000
  • Address: 2770 North Lamb Boulevard
  • Market: Las Vegas, NV
  • Acres: 4.5
  • Square Feet: 89,284
  • Price Per Square Foot: $185
  • Buyer's Representative: Sean Zaher - CBRE
  • Seller's Representative: Bryan Houser - NAI Excel

NAI Excel managed the transaction, facilitating the sale of Strongbox Lamb Industrial Center from Strongbox Development to a national cabinetry manufacturer, which will use the facility as its primary West Coast manufacturing and distribution hub.

Players

Sean Zaher
CBRE
Sean Zaher
1 deal$16.5M volume(702) 369-4863
BROKER
Bryan Houser
NAI Global
Bryan Houser
1 deal$16.5M volume(702) 534-1701
BROKER

Details

SOLD
IMAGE: 09/10/2024 ADDRESS: 2770 North Lamb Boulevard MARKET: Las Vegas, NV ASSET TYPE: Industrial ~ ACRES: 4.5 BUYER'S REP: Sean Zaher - CBRE SELLER'S REP: Bryan Houser - NAI Excel SALE PRICE: $16,500,000 SF: 89,284 ~ PPSF: $185 NOTE: NAI Excel managed the $16.5 million sale of Strongbox Lamb Industrial Center in North Las Vegas from Strongbox Development to a national cabinetry manufacturer. The 89,284-square-foot Class A warehouse, completed in August 2024, will serve as the buyer's primary West Coast manufacturing and distribution hub.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$880,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$58,621.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,218.42
Annual Debt Service$938,621.01