facebook
Traded Co logo
Submit
Daily limit: 0/10

EastGroup Properties Acquires Spanish Ridge Industrial Center In Las Vegas For $54.8M

Property Image
SOLD
$54,800,000
Andrew Briner
Bret Hardy

Nevada

See Similar Deals
Industrial692,697 SF
Sold 02/12/2024
the dealplayerscompscontact
Property Image
SOLD

EastGroup Properties Acquires Spanish Ridge Industrial Center In Las Vegas For $54.8M

5425 South Riley Street, 5365 South Riley Street & 8875 West Hacienda Avenue

See Similar Deals
Industrial692,697 SF
Sold 02/12/2024
Andrew Briner
Bret Hardy
the dealplayerscompscontact
Contact now

Summary

NEVADA
Asset Type:Industrial
Price Per Square Foot:$79
Total Square Footage:692,697 SF
Transaction Type:Sale

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

Bret Hardy
Newmark
Bret Hardy
18 deals$1.2B volume
BROKER
Andrew Briner
Newmark
Andrew Briner
13 deals$1B volume
BROKER

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.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,922,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$194,692.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$259,779.96
Annual Debt Service$3,117,359.49