CBRE Arranges $5.1 Million Sale of Two-Building Las Vegas Industrial Property

CBRE has arranged the sale of two freestanding buildings totaling 14,500 square feet located at 2829 Losee Road in Las Vegas. Bob Beylik purchased the two-building property from Jaramillo Trust for $5.1 million.

CBRE’s Tyler Ecklund and James Griffis represented the seller in the transaction.

Built in 1989, the property includes a 4,500-square-foot office space and a 10,000-square-foot industrial warehouse within a 3.4-acre secured plot. The two buildings are located near the Interstate 15 interchange, proximate to North Fifth Street and Cheyenne Avenue.

“This highly functional industrial campus has been home to Core & Main since 2007 and is a rare single tenant industrial opportunity offering a great credit tenant and simplicity of ownership,” said Ecklund. “Even more appealing, the property also includes a 6,000-square-foot covered storage area and meets the high demand for yard storage within the tight North Las Vegas submarket.”

According to CBRE Research, the Las Vegas industrial market saw 2.1 million square feet of net absorption in Q2 2022, bringing the total to 5.2 million square feet for the first half of the year. The overall vacancy rate also further decreased from 1.1% to 0.9%, a new record low for the Las Vegas industrial market.