Dermody Properties Grows Las Vegas Industrial Portfolio

A truck manufacturer traded the 120,000-square-foot Class B warehouse for more than $13 million.
4141 Distribution Circle. Image via Google Maps

Dermody Properties has finalized the $13.4 million acquisition of a 120,000-square-foot industrial property near Las Vegas. Truck manufacturer PACCAR sold the asset, according to public records.

Located on a 13-acre parcel at 4141 Distribution Circle in North Las Vegas, the single story warehouse was built in 1995. The property has 13 truck wells, four grade-level doors, two loading docks and a 175-foot truck court, Yardi Matrix shows.

The distribution center is 2 miles from Interstate 15 and 11 miles north of McCarran International Airport. The property is 3 miles from Prologis Las Vegas Corporate Center, a 10-building industrial park totaling 2.4 million square feet. The I-15 industrial corridor is home to a number of major facilities, including an Amazon fulfillment center, a CDW warehouse and LogistiCenter at Speedway, a recently delivered, 251,800-square-foot property from Dermody.

Earlier this month, a partnership between Dermody and PCCP sold LogistiCenter at 33, a 475,800-square-foot industrial building in Easton, Pa., for $62.5 million. CBRE brokered the sale on behalf of the joint venture.