Colliers International negotiated the sale of 10 fully-leased industrial buildings in Las Vegas on behalf an unnamed private family trust. The buildings were sold to Invesco Real Estate and TA Realty Advisors in two transactions totaling $117 million.
“Over the past 12 to 18 months, Las Vegas has become one of the more highly sought-after industrial investment markets in the Western United States,” said Colliers Capital Markets’ Michael Kendall. “These two sales to Blue Chip investors such as Invesco and TA Realty are strong indicators that this trend will continue.”
Atlanta-based Invesco purchased four of the trust’s buildings totaling 651,210 square feet in North Las Vegas (pictured). Boston-based TA Realty purchased the remainder of the portfolio, acquiring six of the trust’s fully occupied buildings totaling roughly 350,000 square feet in the Southwest Las Vegas submarket.
Colliers International’s Kendall, Gian Carlo Bruno, Spencer Pinter, Dan Doherty, Paul Sweetlands, Chris Lane and Jerry Doty handled the sale.