Lincoln Property Company’s Southwest division, LPC Desert West, has established an office in Nevada, hiring a locally based team to oversee the company’s rapidly growing commercial real estate footprint in Las Vegas and Reno.
Based in Phoenix, LPC Desert West since 2001 has developed over 15 million square feet, acquired more than 6 million square feet and currently manages almost 21 million square feet of institutional-grade commercial space in a region spanning Arizona, Utah, Nevada and New Mexico.
Nevada represents 6.1 million square feet of that activity, including a 769,572-square-foot industrial investment portfolio and a 1.5 million-square-foot new Class A industrial development that is currently under construction. It also includes 3.7 million square feet of property management activity through a mix of owned and third-party assets.
“Las Vegas and Reno have experienced incredible industrial growth, much like we’ve seen in Phoenix,” said LPC Senior Executive Vice President David Krumwiede. “It is exciting to have our Nevada office officially open and our boots-on-the-ground experts in place so that we can bring our full set of investment, development and management skills to bear in Nevada as we’ve done in Phoenix for more than two decades.”
The new office now manages almost 770,000 square feet of LPC-owned space at West Craig Industrial Center in North Las Vegas and six buildings within Hughes Airport Center, near Harry Reid International Airport. It also manages an institutional-grade industrial portfolio totaling 30 buildings and 3.7 million square feet in Las Vegas and Reno. That space is part of a larger, 8.1 million-square-foot regional industrial portfolio that LPC manages for the institutional owner across Arizona, Nevada and New Mexico.
“Our property management presence in Nevada has grown from assisting with acquisition and due diligence services into a full management, leasing and construction management scope of work,” said LPC Desert West Managing Director Julie Cornelius. “We have put our market knowledge to work, and continue to grow the value of our owned and third-party properties through strategic management and leasing.”
On the development front, LPC is building the Class A, 1,585,440-square-foot Windsor Commerce Park. The project is LPC’s first ground-up industrial development in Nevada and one of the largest underway in the Las Vegas market.
Slated for completion during the third quarter of 2024, Windsor Commerce Park will total eight buildings and 86 acres located directly across the street from North Las Vegas Airport, on the northeast corner of Carey Avenue and Simmons Street, and visible from U.S. Route 95.
“We were drawn to Nevada by its strong fundamentals and those factors continue to drive our growth plan in the state,” said Lincoln Property Company Senior Vice President John Orsak. “We are actively operating in both Las Vegas and Reno, and looking to increase that activity in the years ahead.”
LPC is actively seeking new investment, development and management opportunities in Las Vegas and Reno, including opportunities currently under negotiation.
For more on leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.
About Lincoln Property Company
Lincoln Property Company (LPC) is an international full service real estate firm offering real estate investment, development, design/construction management, leasing and property management/ receivership/asset management services. LPC has approximately 3,200 employees with an international footprint that includes offices in 45 cities across the U.S. and 12 countries in Europe. Since 1965, LPC has developed more than 162 million square feet of office, industrial and retail projects known for their design, quality and superior locations. It currently has more than 433 million square feet of commercial space under leasing and/or management.
LPC's Desert West Region is based in Phoenix and includes Arizona, Nevada, Utah and New Mexico. Since its start in 2001, the regional office has developed over 15 million square feet, acquired more than 6 million square feet and manages almost 27 million square feet of commercial space, including major, award-winning and LEED Certified developments and investments. The company currently has approximately 8 million square feet under construction. Since 2019, the company has completed two of the highest-priced metro Phoenix office and industrial transactions and launched the Union office campus in Mesa, new buildings at The Grand at Papago Park Center in Tempe and the Park303 logistics park in Glendale, among other developments. LPC Desert West is consistently ranked among Phoenix’s top commercial real estate firms for both development and property management, earning consecutive 2018, 2019 and 2020 NAIOP Arizona Owner/Developer of the Year awards and designation as an Arizona Republic Top Companies to Work for in Arizona. In 2020, the firm kicked off a regional expansion plan, entering the Nevada and Utah markets with Class A industrial acquisitions. To learn more about Lincoln Property Company, please visit www.lpc.com or www.lpcdesertwest.com.
PHOTO from left to right: Haley Novak, Assistant Property Manager / Jessica Saldana, Senior Property Manager / Aurora Murtey, Property Manager
https://www.lpcdesertwest.com/
