Dealmaker: Unilev Capital Purchases Nevada Industrial Campus for $24M

Unilev Capital, Beverly Hills, Calif, acquired a 17.8-acre industrial campus in Henderson, Nev., for $24 million.

CBRE, Dallas, brokered the off-market transaction. CBRE Senior Vice President Tyler Ecklund, First Vice President James Griffis and Client Services Specialist Britney Arredondo worked with Unilev Capital’s investment team, made up of Raymond Levy, Ian Konowitch and Peter Berges. Cape Horn & Parkson LLC, Las Vegas, sold the property.

Located at 501 Parkson Road and 740 Cape Horn Drive, the 104,631-square-foot property includes two warehouses fully occupied by plumbing supply firm Ferguson. The property has 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.

“This closing is in line with our strategic focus of acquiring infill industrial assets in supply-constrained growth markets throughout the country,” Konowitch said. “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.”

CBRE Research reported Las Vegas industrial sales volume set a record in the second quarter at more than $670 million. The Henderson submarket recorded more than 443,000 square feet of net absorption as vacancy fell to 3.3 percent.