VanTrust Trades Las Vegas Facility for $45M
- Jul 24, 2020
VanTrust Real Estate has completed the $45.2 million disposition of a newly delivered, 322,560-square-foot industrial building in North Las Vegas, Nev. A private investor acquired the asset, according to Clark County records.
Located on 18 acres at 4800 E. Tropical Parkway, the single-story facility opened in February 2020 following 10 months of construction. The climate-controlled warehouse was a build-to-suit project for health and cleaning supplies manufacturer Reckitt Benckiser.
The facility is on the northern side of Interstate 15, some 10 miles from downtown Las Vegas and 16 miles from McCarran International Airport. Additionally, the property is part of the Northgate Distribution Center, a 180-acre, master planned industrial complex totaling 3.5 million square feet. The park’s tenant roster includes Amazon, Fanatics and The Honest Co.
In May, VanTrust sold Tropical Distribution Center 1, the largest Amazon-leased building in Nevada for $110 million. Preylock Holdings acquired the 855,000-square-foot asset and financed the purchase with a $68 million loan from Goldman Sachs.