Trammell Crow Starts Work on 2.7 MSF Las Vegas Logistics Project
- Oct 29, 2019
Trammell Crow Co. has begun construction on Golden Triangle, a 2.7 million-square-foot speculative industrial development in North Las Vegas. The first phase includes approximately 1 million square feet of Class A logistics space. The developer of the 127-acre project is working with Washington Capital, who is the advisor to the owner, while CBRE’s Kevin Higgins and Donna Alderson in the Vegas office will be the leasing agents for the upcoming property.
Located at 3325 E. Washburn Road, Golden Triangle provides direct access to Interstate 15 via Craig Road. The main focus of the first phase includes building a 350,500-square-foot rear-loader building and a 652,000-square-foot cross-dock building. Both structures will feature 37-foot clear heights with ESFR fire sprinklers, 7-inch floor slabs, 185-foot secured concrete truck courts as well as dock-high loading and parking.
Besides building, Trammell Crow will also conduct rough grading for a 675,400-square-foot cross-dock building that will be built during the second phase. Completion of the first phase is expected in September 2020, with the second phase anticipated to start in late 2020. Plans also call for a third development phase, but Trammell Crow has yet to determine a timeline for it and the remaining 51 acres.
Ingrained in the industrial sector
Tom Bak, senior managing director of Trammell Crow’s SoCal-Newport Beach office, told Commercial Property Executive that the developers see potential in the Vegas industrial market, especially because of the area’s robust population and job growth. “Since 2015, over half of the approximately 25 million square feet of net absorption has occurred in North Las Vegas,” Bak said. “This activity has been driven by sophisticated logistics, 3PLs and e-commerce companies, which we are targeting for Golden Triangle.”
According to Trammell Crow, this is the firm’s second active project with Washington Capital, but they’ve also completed seven other projects together. In August, the companies sold Columbia Business Center, a 1 million-square-foot Class A speculative industrial building in the Inland Empire, for $123.8 million.
Trammell Crow has also been working on other large industrial parks in the U.S., like Park 183 in Austin, Texas, where they recently began the project’s second phase with Clarion Partners. The facility will encompass a 85,000 square feet.