SOLD
EastGroup Properties Acquires Spanish Ridge Industrial Center In Las Vegas For $54.8M
5425, 5365 South Riley Street & 8875 West Hacienda Avenue
Industrial
692,697 SF
692,697 SF
Sold 79 days ago
Summary
Sale
NEVADA
Industrial
692,697 sqft
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $54,800,000
- Address: 5425, 5365 South Riley Street & 8875 West Hacienda Avenue, Las Vegas
- Market: Las Vegas
- Acres: 12.91
- Buyer: Marshall A. Loeb - EastGroup Properties
- Seller: Patrick Daniels - CapRock Partners; Michael Arougheti - Ares Asset Management
- Brokers: Andrew Briner & Bret Hardy - Newmark
- SF: 230,899
- PPSF: $237
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Marshall A. Loeb, Andrew Briner, Michael Arougheti, Bret Hardy & Patrick Daniels
DATE: 02/12/2024
ADDRESS: 5425, 5365 South Riley Street & 8875 West Hacienda Avenue
MARKET: Las Vegas
ASSET TYPE: Industrial ~ ACRES: 12.91
BUYER: Marshall A. Loeb - EastGroup Properties
SELLER: Patrick Daniels - CapRock Partners (@Caprock_Partners) ; Michael Arougheti - Ares Asset Management (@Ares_Mgmt)
BROKERS: Andrew Briner & Bret Hardy - Newmark (@Newmark)
SALE PRICE: $54,800,000
SF: 230,899 ~ PPSF: $237
NOTE: CapRock Partners and Ares Asset Management sold the Spanish Ridge Industrial Center in Las Vegas to EastGroup Properties for $54.8 million. The newly built complex spans 230,899 square feet, is fully leased to five tenants, and features modern industrial amenities in a strategically located Southwest submarket with low vacancy rates and ongoing construction development.View on map
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Address5425, 5365 South Riley Street & 8875 West Hacienda Avenue
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