CBRE announced the off-market sale of a 17.8-acre industrial campus in Henderson, Nev., for $24 million.
Tyler Ecklund, James Griffis and Britney Arredondo with CBRE represented the buyer, a programmatic joint venture between Unilev Capital and real estate investor Nitin Chexal, the co-founder and CEO of Palladius Capital Management. Los Angeles-based commercial real estate investment company Unilev Capital led the acquisition, spearheaded by their investment team, Raymond Levy, Ian Konowitch and Peter Berges. The seller was Cape Horn & Parkson, LLC.
Located at 501 Parkson Road and 740 Cape Horn Drive, the 104,631-square-foot property includes two warehouses fully occupied by Ferguson, the largest wholesale supplier of commercial and residential plumbing supplies in the United States. The property features a secure paved yard and offers access to Interstate 515 via West Sunset Road, allowing two-day truck service to West Coast markets as well as immediate access to the local Las Vegas population base.
“We are pleased to have been able to capitalize on this fantastic off-market opportunity and are grateful for Tyler and the CBRE team trusting in us to perform without issue,” said Mr. Raymond Levy, Co-Founder and Managing Principal, Unilev Capital.
“Unilev Capital immediately recognized this as a unique opportunity to acquire a trophy asset in an extremely competitive market and performed flawlessly on the closing execution from start to finish,” said Mr. Tyler Ecklund, First Vice President, CBRE.
“This closing is in line with our strategic focus of acquiring infill industrial assets in supply-constrained growth markets throughout the country. 501 Parkson represents one of several industrial deals in the pipeline under this programmatic joint venture. We look forward to announcing other closings this year and to aggressively continuing the pursuit of both on and off market deals to grow our portfolio of infill industrial assets,” said Mr. Ian Konowitch, Chief Investment Officer, Unilev Capital.
“The opportunity in the industrial sector continues to be robust, with tenant demand meaningfully outpacing supply for infill locations. I am pleased to be working with a best-in-class partner like Unilev,” said Mr. Nitin Chexal, CEO, Palladius Capital Management.
According to CBRE Research, Las Vegas industrial sales volume in Q2 2021 was a record high for a single quarter at more than $670 million. Additionally, the Henderson submarket recorded more than 443,434 square feet of net absorption, with vacancy sitting at 3.3 percent.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Unilev
Co-Founded in 1993 by Raymond Levy, Unilev Capital Corporation is a privately held real estate investment firm that specializes in the acquisition of well-located, income producing commercial properties in the United States. Unilev typically focuses on core plus to value-add return profiles depending on the deal. Unilev Capital acquires properties through off-market and market-negotiated transactions that have ultimately resulted in an impressive track record for itself and its investors.
Unilev Management Corporation is a full-service management company providing integrated due diligence, asset management, property management, accounting and engineering services.
Unilev is headquartered in Beverly Hills, California with affiliate offices in Texas, Colorado and Minnesota.
For additional information, visit www.unilev.com
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