Las Vegas Airport Warehouse Trades for $16M
- Apr 08, 2020
BKM Capital Partners has sold a 17,047-square-foot warehouse near McCarran International Airport in Las Vegas to a private investor for $16 million, according to public records. The buyer received acquisition financing from the previous owner.
The property, located within the Spencer Airport Center at 1856 E. Pama Lane, comprises the eastern half of a larger, 31,231-square-foot structure. The building has a single dock-high loading door and a drive-in door. BKM remains the owner of the western component and the industrial park’s six other buildings.
Las Vegas’ industrial market had been making steady gains toward the end of 2019, as the city grew in importance as a regional distribution hub. Industrial developers added close to 5 million square feet of new product to the metro last year, accounting for more than 6 percent of the market’s inventory.
While Las Vegas has been hard hit by the novel coronavirus, its presence as a regional industrial player could soften the overall blow on Sin City’s economy. Demand from many industrial users—particularly e-commerce tenants—is likely to remain strong, as consumer behavior continues to shift away from brick-and-mortar retail.