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Rising Displays Optimism in Las Vegas with Industrial Buy
Rising Realty Partners recently acquired Cheyenne Airport Center, a class-A multi-tenant industrial park located in North Las Vegas. Originally constructed in 2006, the 10.1 acre property contains five buildings totaling 143,983 square feet of industrial and office space currently supporting 20 tenants.
The property represents Rising’s first asset in Nevada and second industrial/office property. The company owns and/or manages more than 5 million square feet in California and Colorado.
Capital for the acquisition came through RealtyMogul. Additional capital was secured through the Rising Investor Platform, Rising’s internal platform where accredited investors can partner with Rising in a building’s ownership structure to raise limited partnership investment capital. Cheyenne Airport Center is the second asset acquired as part of the platform.
“Cheyenne Airport Center has a strong and diverse tenant base, great location and value-add proposition,” said Christopher Rising, co-founder and CEO of Rising. “We are very optimistic about the Las Vegas industrial market and believe there will be other opportunities in the future.”
Darla Longo and Rebecca Perlmutter of CBRE represented the seller in the transaction.
- ◦Sale/Acquisition
