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NorthPoint Picks Up 1M-SF N. Las Vegas Warehouse Portfolio
Blackstone’s Link Logistics sold a collection of three warehouses in North Las Vegas for $175 million. NorthPoint Development acquired the Las Vegas Logistics Center, a one-million-square-foot industrial portfolio.
Commercial Edge reports RGA Reinsurance Co. issued a $112.5 million acquisition note for NorthPoint. Colliers brokered the deal and arranged the financing.
The warehouses are on 50 acres and are roughly 5 miles northeast of downtown Las Vegas. Las Vegas Logistics Center encompasses a 2007-built facility spanning 513,240 square feet and two buildings completed in 2003 and 2005, which measure 266,811 and 266,160 square feet, respectively.
Additionally, the collection was fully leased at closing and had a weighted average lease term of 3.4 years. The tenant roster includes Amazon, which operates its only returns-focused distribution center in the Las Vegas market from the site.
- ◦Sale/Acquisition
