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Lincoln Property Co. Enters Nevada Market with Industrial Portfolio Buy

Lincoln Property Company (LPC) purchased Hughes Airport Center, its first-ever asset in Nevada. The industrial portfolio totals 425,752 square feet and six buildings within the desirable Las Vegas airport submarket. The deal value was undisclosed.

LPC’s David Krumwiede says, “The fundamentals that attracted us to Hughes Airport Center are the same that are driving our regional expansion strategy.”

The portfolio is located at 890 and 950 Pilot Rd.; 111, 1151 and 1181 Grier Dr.; and 6700 Paradise Rd., within the Las Vegas infill Airport submarket. The 98%-occupied property is in one of the most supply-restricted submarkets in Las Vegas. It is part of the larger 3.3-million-square-foot Hughes Airport Center master-planned business park, which includes office and industrial product across 420 acres.

LPC’s John Orsak said, “Between its diverse occupancy, location and quality, the Hughes Airport asset fits perfectly within our existing portfolio.”

CBRE’s Darla Longo and Barbara Emmons represented the unnamed seller. CBRE’s Kevin Higgins is the exclusive leasing broker.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.