Alignment Realty Capital (“Alignment”), a direct, net-leased acquisitions group based in Phoenix, Arizona, is pleased to announce it has acquired two free-standing, single-tenant industrial assets in North Las Vegas, Nevada.
Alignment is providing the seller/current occupant a short-term sale-leaseback as existing on-site operations are consolidated. Alignment will execute a value-add renovation plan before bringing the assets to market to for a new user. Select renovations to the properties will include: (a) new exterior paint, (b) new heating and cooling units, (c) new roofing, and; (d) asphalt improvements to each of the properties’ gated and secured yards.
Both buildings are located in a highly coveted North Las Vegas industrial park and feature 19-22-foot clear heights, multiple dock and grade doors, rare secured/gated yards, heavy power, and convenient access to Interstate 15, located less than a mile away. The buildings total 32,283 square feet.
Alignment believes that Las Vegas is poised for continued economic growth. With the entertainment sector nearing pre-covid levels of activity, Nevada experienced the highest first quarter GDP growth of any state in the US. Nevada’s favorable business environment, lack of state income tax, and close proximity to California and other major markets in the western US, are tailwinds for the demand of industrial warehouse and manufacturing space in the region.
Alignment Realty Capital acquired the properties in an all-cash transaction.