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Avison Young announces $10.3 million sale of El Camino Industrial Center in Las Vegas
Las Vegas, NV – Avison Young announces today the $10.3 million sale of El Camino Industrial Center, a 35,446-square-foot, fully occupied industrial building located at 6260 W. Pebble Road in Las Vegas, NV.
Avison Young Principals Chris Lexis and Joe Leavitt represented the seller, a Las Vegas-based developer. Avison Young Principal James Griffis represented the buyer, a private investor from California who was in a 1031 exchange. The property sold for $290 per sf and at a 5.5% cap rate.
“The industrial investment market remains strong in Southern Nevada and smaller-sized properties such as this asset are in high demand for investors and users,” said Lexis.
Situated on two acres and built in 2023, the property includes four dock doors, 24’ clear height, two grade-level doors, ESFR sprinklers, and a build-to-suit office. The property is well-located near the Blue Diamond Road and Jones Boulevard intersection with easy access to interstates 15 and 215.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2024 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 13 consecutive years.
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Media Contact:
Darcie Giacchetto, Media Relations Specialist – West & Texas: +1.949.278.6224