Colony Industrial Acquires the Trade Drive Portfolio in Las Vegas, NV
01 August 2018 - 9:30PM
Business Wire
The two-building warehouse property is the
firm’s latest investment in the growing Las Vegas market
Colony Industrial announced today it has acquired a portfolio of
two warehouse properties in Las Vegas, NV located at 1055 and 1220
Trade Drive. Colony Industrial is the light industrial platform of
Colony Capital, Inc. (NYSE: CLNY), a diversified global real estate
investment firm with $43 billion of assets under management.
Colony Industrial acquired the two Class A light industrial
buildings on July 30, 2018, and now owns six buildings in Las Vegas
with an additional three under construction. The Trade Drive
properties total 204,740 square feet and are strategically located
with access to Interstate 15 (national north-south corridor) and
Interstate 215 (Las Vegas’ perimeter highway). The buildings are
100% leased to two high-quality tenants.
“Las Vegas is an attractive market for us as we expand our
platform of last-mile, industrial logistics properties,” said Lew
Friedland, Managing Director at Colony Capital and Head of Colony
Industrial. “It has the advantages of major national and
international customers, high demand and low vacancies. The Trade
Drive portfolio is well-located in the North Las Vegas submarket,
just six miles from downtown Las Vegas and less than 12 miles from
McCarran International Airport.”
Cushman & Wakefield’s Danielle Steffen acted as real estate
broker on the transaction.
About Colony Industrial
Headquartered in Dallas, TX, Colony Industrial is the industrial
platform of Colony Capital, Inc. The platform owns and manages 47.5
million square feet of warehouse buildings in 20 major markets
across the United States, with a gross asset value of more than
$3.5 billion as of June 30, 2018. Its diversified tenant base
includes major national B2B, B2C, wholesale and consumer
businesses. For more information, visit
www.clny.com/industrial.
About Colony Capital, Inc.
Colony Capital, Inc. (NYSE: CLNY) is a leading global investment
management firm with assets under management of $43 billion. The
company manages capital on behalf of its stockholders, as well as
institutional and retail investors in private funds, non-traded and
traded real estate investment trusts and registered investment
companies. Colony Capital has significant holdings in: (a) the
healthcare, industrial and hospitality property sectors; (b) Colony
Credit Real Estate, Inc. (NYSE: CLNC) and NorthStar Realty Europe
Corp. (NYSE: NRE), which are both externally managed by
subsidiaries of Colony Capital; and (c) various other equity and
debt investments. Colony Capital is headquartered in Los Angeles
with over 400 employees in offices located across 19 cities in ten
countries. For additional information regarding the Company and its
management and business, please refer to www.clny.com.
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