Premier Logistics Properties And PCCP Acquire Industrial Building In Las Vegas For $124 Million

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.