IRVINE, Calif. and LAS VEGAS – January 10, 2023 – DIV Industrial, a newly formed institutional-level investor and developer of industrial real estate, today announced the acquisition of 94.04 acres of land within the Las Vegas industrial market, in the El Dorado Valley specifically, for the development of El Dorado Valley Logistics Center, a new 1.7-million-square-foot Class A industrial complex. At completion, the cutting-edge, modern facility will be LEED certified and establish a new distribution location in the Western U.S., providing an alternative and efficient connection point between key regional logistics hubs.
The acquisition kicks off the first significant development project for DIV Industrial, which was established in late summer 2022 by real estate veterans Nicholas Ilagan and Jessica Quesada. As a minority- and woman-owned firm, DIV focuses on prioritizing diversity, equity and inclusion (DEI) initiatives and implementing responsible environmental, social and governance (ESG) practices within its industry. With an institutional investment approach, the boutique firm targets new development and investment opportunities in select markets in the Western and Southwestern U.S. DIV is actively raising capital for its first fund, which will allow for more than $2 billion of industrial development and entitlement projects throughout the Western U.S.
“Responsibility to people and the planet is at the forefront of our approach. We created DIV Industrial with the intention of shaking things up within the industrial real estate industry while operating in line with our principles. El Dorado Valley Logistics Center will be a massive LEED-certified development in an advantageous new location. The project exemplifies what our team is looking to achieve,” said Ilagan, DIV Industrial’s co-founder and managing partner. “While DIV aims to turn heads, we are building for the betterment of the environment, our industry and its people. We are excited to officially announce the launch of our firm and get to work building something remarkable.”
El Dorado Valley Logistics Center will feature the highest efficiency building specifications in the industry while also providing best-in-class specifications such as 42-foot clear height, super flat floors and an ESFR sprinkler system. The development will comprise of two buildings ranging in size from 600,000 square feet to one million square feet.
The Alderson Tassi Team, led by Donna Alderson and Greg Tassi, of Cushman and Wakefield, represented DIV in the transaction. DIV acquired the project’s land site in an unimproved condition with entitlements in process. Project groundbreaking is anticipated in summer 2023.
“We are extremely proud to share the launch of DIV Industrial, which is built on the pillars of everything we stand for as individuals, and supported by our combined industry experience, honed skillsets, and strong network of knowledgeable industry professionals who are championing us as we advance into this next chapter,” said Quesada. “We believe wholeheartedly in our mission, which is to reframe and redefine how people interact in our industry, one handshake at a time. By bringing a diverse background and a fresh perspective to the industry, we are committed to creating change and implementing effective DEI and ESG initiatives that leave a lasting impact.”
El Dorado Valley Logistics Center’s project site was recently annexed into the City of Henderson, which offers a largely underutilized strong labor pool for future distribution and logistics-focused tenants, compared to other parts of the Las Vegas area. The development will be one of the largest ever in Henderson’s history.
Located at the cross-section of Highway 95 and Roger Ray Road, El Dorado Valley Logistics Center’s position in southeast Las Vegas provides efficient access to the entire Las Vegas Valley via its proximity to the I-11, I-215 and I-15 freeways. It also provides multiple alternative routes for trucks traveling from California’s port markets looking to bypass traffic on the I-15 freeway via Highway 95.
The Las Vegas metropolitan statistical area (MSA) is an important logistics hub east of Southern California’s port markets, servicing approximately 20% of the U.S. population within a day’s drive. Yet, large land acquisition opportunities for new development have become rare due to the land constraints from the U.S. Bureau of Land Management.
“Demand for more logistics warehouse space continues, and DIV Industrial is excited for the opportunity to build a much-needed state-of-the-art facility,” added Ilagan. “Our ability to perform and execute on a project of this scale is made possible by the tremendous support we have from our partners and peers—the many longstanding industry relationships that our team has forged over the years. We are so grateful for their trust and support.”
DIV’s development partners include HPA Architecture and civil engineer Kimley-Horn.
ABOUT DIV INDUSTRIAL
DIV Industrial is an Irvine, Calif.-based investor and developer of institutional-level industrial real estate. Founded in 2022 by industry veterans Nicholas Ilagan and Jessica Quesada, the firm brings an innovative approach and creative solutions to the industrial sector through the prioritization of DEI and ESG practices. DIV targets new development through the acquisition of opportunistic land opportunities in select markets in the Western and Southwestern U.S. The firm is actively raising capital for its first fund, which will allow for more than $2 billion of industrial development and entitlement projects throughout the Western U.S. Led by the relentless pursuit of quality with precision, DIV is committed to reframing and redefining the industrial real estate industry one handshake at a time. Learn more about DIV Industrial at www.DIVindustrial.co. Follow us on LinkedIn.
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https://www.divindustrial.co/
