CBRE Arranges $12.3 Million Sale of 48,681-SF Industrial Flex Building in Las Vegas

CBRE has arranged the $12.3 million sale of PSI Commerce Center Phase II Building 1, a 48,681-square-foot, Class A flex industrial warehouse building in Las Vegas to Nevatronix, an electrical engineering and digital design studio.

Tyler Ecklund of CBRE represented the seller, PSI Warm Springs, LLC, in the transaction.

Building 1, which delivered in July of this year, is located at 7240 W. Warm Springs Road, and offers frontage and visibility along Warm Springs Road. The building has four dock-high doors, two ramp-grade doors, 28-foot clear height, and an above-average parking ratio.

“Building 1 adds much-needed Class A flex industrial inventory to the Southwest submarket, one of the tightest submarkets in the Las Vegas region,” said CBRE’s Ecklund. “As an owner-user, the buyer will benefit from a plethora of advantages, from strong fundamentals to the area’s abundance of amenities and access to the 215 Beltway.”

PSI Commerce Center Phase II is 1.1 miles from the 215 Interchange via Rainbow Boulevard. This Beltway connects the two main residential submarkets in the Las Vegas Valley, Summerlin and Henderson. The industrial park is also close to the master-planned community of Summerlin, Arroyo Market Square, Downtown Summerlin Shopping Mall, Red Rock Resort and a future Stations Casino location.

Driven by preleasing of new deliveries, the Las Vegas industrial market recorded 3.1 million sq. ft. of net absorption in the second quarter of 2023, bringing the year-to-date total to 4.9 million sq. ft., according to CBRE Research. The market’s overall vacancy rate remains at a near-record low despite having risen 30 basis points quarter-over-quarter to 1.7% in Q2 2023.