LAS VEGAS – Brass Cap Development, a Las Vegas-based industrial real estate developer announces completion of Nevada State Industrial Park, an approximately 200,000-square-foot commerce center near Allegiant Stadium and the Las Vegas Strip.
“The completion of Nevada State Industrial Park is a major accomplishment for our team. In terms of square footage, the project represents our largest Nevada undertaking to date and will surely be a welcomed addition to the booming industrial landscape of our Las Vegas Valley, particularly the southwest submarket,” says Jason Kuckler, partner at Brass Cap Development.
Nevada State Industrial Park is strategically situated on 11 acres of land at the northwest corner of Russell Road and Decatur Boulevard. The property consists of three industrial buildings that range from 23,000 to 101,000 square feet.
Currently, over 50 percent of the development has been leased to multiple tenants including Rentex, a wholesale provider of pro audio visual, production and computer rental equipment.
“The location of Nevada State Industrial Park is very convenient for incoming tenants. Not only is the site within 2.5 miles of the Las Vegas Strip, but it’s also less than three miles from Allegiant Stadium with convenient accessibility to I-15,” adds Kuckler.
Brass Cap Development recently closed on the $25.5-million sale of Nevada State Industrial Park to EastGroup Properties.
“We were able to begin negotiations for the sale of Nevada State Industrial Park prior to tilting the first concrete wall, which further illustrates the demand for this project and the potential that this specific location holds,” Kuckler noted.
Design-build construction of Nevada State Industrial Park was overseen by LM Construction Co., a premier full-service builder that was involved in initial project planning through to final completion. Brass Cap Development credits LM Construction Co. for their efficiency and cost-effective operations throughout the construction process.
Dan Doherty, Paul Sweetland, Jerry Doty, and Chris Lane of Colliers International Las Vegas are currently handling the leasing and sale of remaining suites in Building A located at 5257 W. Diablo Drive.