Coleta Brands Inks $48M Build-to-Suit Deal in Las Vegas

Coleta Brands has agreed to a build-to-suit lease valued at $48.3 million for a new 368,270 square foot industrial facility in Las Vegas. The building, situated on an 18.11-acre site located at 2644 N. Lamb Blvd., is within OMP Lamb Commerce Center.

The project is a development of OMP, in a venture with AEW. The partnership acquired the land in July 2022.

The lease is particularly significant given that the Las Vegas market currently has more than 17 million square feet of available new industrial construction, demonstrating that certain occupiers continue to prioritize tailored facilities over existing inventory.

Paul Sweetland, Dan Doherty, Jerry Doty, Morgan Elson and Zach McClenahan at Colliers represented the landlord. Jason Simon at JLL represented the tenant in the transaction.

“Build-to-suit projects are typically driven by necessity, and this tenant simply couldn’t find a building in the market that met its requirements,” said Sweetland.