Las Vegas – Nov. 10, 2023 – CBRE has been selected by California developer Serrano Development Group as the exclusive leasing and marketing agent for Henderson 515 Logistics Center, a planned one-building, 110,075-square-foot multi-tenant industrial development in Henderson, Nevada.
CBRE’s Dean Willmore, SIOR, Alex Stanisic, Mike Willmore, Lauren Willmore and Kyle Kirchmeier have been retained to lease and market the development that broke ground on Nov. 3, 2023.
The development is located at SEC I-515 Freeway and Sunset Road in the Henderson industrial submarket, with proximity to the Valley Auto Mall, Henderson Hospital, the Galleria Mall and Harry Reid International Airport. Once complete, Henderson 515 Logistics Center will comprise one concrete tilt-up structure, featuring suites ranging from 24,696 square feet to 110,075 square feet.
“The Henderson 515 Logistics Center is being developed in the expanding Henderson industrial submarket of Las Vegas, which has seen a constant increase in demand for industrial space and is under-served for this type of product,” said Dean Willmore. “Future tenants will benefit from its functional design, nearby amenities, direct freeway exposure and our strong local workforce.”
Henderson 515 Logistics Center will feature best-in-class specifications, including dock-hi and grade-level loading doors, 32-foot clear height, abundant parking, heavy power and an ESFR sprinkler system. The development will also provide users with a private fenced yard for overflow parking and equipment storage. The project is scheduled for completion in Q3 2024.
“We are very excited to break ground on the Henderson 515 Logistics Center,” said Jason Tolleson, co-founder of Serrano Development Group. “We have been looking for some time for the right opportunity to re-enter the Las Vegas market and are very bullish on this project. We hope that it is the first of many projects to come in Las Vegas.”
According to CBRE Research, the Las Vegas industrial market remains extremely tight, with the vacancy rate in the Henderson submarket at 1.1% in Q3 2023, down from 2% in Q2.
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 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend 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 Serrano Development Group, Inc.
Serrano Development Group is a multifaceted real estate investment and development company based in Los Angeles. Since its inception in 2005, SDG and partners have developed multifamily, industrial, commercial and hospitality projects throughout the southwestern United States with a primary focus in California and Nevada. Please visit our website at www.serranodevelopment.com.
