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Saddle Creek Acquires Las Vegas Warehouse for $96.8M
Saddle Creek Logistics has acquired a 586,000-square-foot warehouse in Las Vegas. Saddle Creek is the sole tenant in the building. VanTrust Real Estate was the seller. Commercial Search reports the sales price was $96.8 million. Before the sale, Saddle Creek closed on an acquisition loan issued by PNC Bank.
Located on nearly 32 acres at 8650 Logistics Drive, the asset is about 16 miles northwest of downtown Las Vegas. Interstate 15 runs less than 1 mile away. Saddle Creek Logistics is a third-party logistics company operating across 46 warehouses encompassing 31 million square feet of industrial space throughout the nation.
The building is part of VanTrust’s Vantage North, a 4.5 million-square-foot, multi-stage industrial project. Phase One debuted last year, including two other facilities measuring 445,954 and 763,872 square feet.
Vantage North is part of the larger, 18,000-acre Apex Industrial Park, which totals about 28.5 million square feet of industrial space in various stages of development, including 5.5 million square feet of industrial completions.
- ◦Sale/Acquisition
