JV to Build 752 KSF Industrial Campus in Vegas
- Mar 27, 2018
A joint venture of SunCap Property Group and Colony NorthStar has acquired a 40-acre site in northeastern Las Vegas. The partnership will develop a Class A light industrial campus, to be named SunPoint Crossing.
The campus will be located at the southeast corner of the intersection of North Las Vegas Boulevard and North Lamb Boulevard. SunPoint Crossing will comprise three buildings, totaling 752,838 square feet. Each building will be divisible up to 35,000 square feet and will feature a concrete construction, 32-foot clear ceiling height, ESFR sprinklers and a plethora of dock-height and grade level doors.
The site is near Nellis Air Force Base, towards the northern end of the metro area. North Las Vegas Airport is about eight miles from SunPoint Crossing, while downtown is approximately seven miles away. Major thoroughfares, such as interstates 15 and 515, are within a few minutes’ drive from the property.
SunPoint Crossing is SunCap’s third project in the Vegas metro, the two other being a FedEx distribution center completed in 2014 and the SunPoint Business Center, which was acquired by Colony NorthStar last year.
“As evidenced by our history of development and investment here, SunCap firmly believes in the strength of the Las Vegas market. We are excited about this partnership with Colony and intend to expand the relationship into other markets,” said Mike Orr, senior vice president at SunCap, in a prepared statement.
A CBRE team will handle marketing of the property on behalf of the joint venture. The project is slated to break ground this summer, while the shell buildings are to be completed in summer 2019.
Image courtesy of SunCap Property Group