Dermody Properties completes project in Las Vegas
August 18, 2017
Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of logistics real estate headquartered in Reno, recently completed the LogistiCenter at Las Vegas Boulevard, a 546,480-square-foot facility in the North Las Vegas submarket. Coming off its largest quarterly expansion of industrial inventory since the first half of 2008, North Las Vegas is a highly desirable market for e-commerce and omni-channel industrial operations. North Las Vegas is the largest warehouse/industrial market in Las Vegas.
"Currently, LogistiCenter at Las Vegas Boulevard is the only completed building in North Las Vegas with more than 325,000 square feet available. This building is ideal for tenants who have a large customer base and need an e-commerce ready building," said George Condon, West Region Partner, Dermody Properties. "Its location next to Interstate 15 means future tenants will be able to fulfill and distribute orders quickly and efficiently."
LogistiCenter at Las Vegas Boulevard can accommodate up to four tenants ranging in size from 125,000 to 546,480 square feet. The site also contains an additional eight acres for parking, trailers or a second building. The recently completed building is e-commerce-ready, with 36 feet of clear height and above-standard auto and trailer parking. Its central location within the western U.S. makes it ideal for fulfillment, distribution and warehouse operations.
"Dermody Properties has a long investment and development history in Las Vegas, and we are pleased to complete another project in this highly sought-after market," said Michael Dermody, Chairman and CEO, Dermody Properties. "We continue to seek out strategic opportunities in high-demand markets, like Las Vegas and throughout the U.S., where we can develop or renovate modern, Class-A facilities that will attract top-tier companies."
United Construction Company was the design-build contractor on the project, and Colliers International is serving as the broker marketing the building. Dermody Properties has been developing and investing in industrial real estate in Las Vegas for more than 40 years.
LogistiCenter at Las Vegas Boulevard is situated in the Interstate 15 corridor, putting the Southern California and Arizona markets within range for overnight deliveries. The North Las Vegas submarket offers many logistical advantages for tenants, and because Las Vegas is an import market, outbound shipping to western and eastern markets is extremely cost-effective.