The asset involved in this transaction is an industrial property located at 4550 Nexus Way in North Las Vegas, Nevada. It encompasses 813,120 square feet and is situated on a 38.2-acre site. The sale was completed for a price of $124 million, which translates to $152.50 per square foot. The building, constructed in 2017, is fully leased and occupied by Amazon, and it lies within the Northgate Distribution Center.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $124,000,000
• Square Footage: 813,120
• Address: 4550 Nexus Way
• Market: Las Vegas, NV
• Acres: 38.2
• Buyer: Premier Logistics Properties & PCCP
• Seller: Global Logistic Properties
• Price per Square Foot: $152

The joint venture formed by Premier Logistics Properties and PCCP represents a strategic acquisition in the industrial real estate market, aiming to leverage the asset's fully leased status with a prominent tenant like Amazon. Global Logistic Properties acted as the seller in this transaction, facilitating the sale of the property.