Avison Young announces $12.5 million acquisition of a 50,100-sf industrial building in Las Vegas

Las Vegas, NV – Avison Young announces today the $12.5 million acquisition of Edmond Russell Triangle, a 50,100-square-foot industrial building located at 5780 Edmond Street in Las Vegas, NV. 

Avison Young Principals Chris Lexis, James Griffis and Joe Leavitt represented the buyer, a California-based private investor. The seller was a local development group. The property was acquired for $249.50 per sf and at a 5.4% cap rate. 

The property fully occupied by Loomis U.S. 

“This was an off-market transaction that we secured on behalf of the investor,” said Griffis. “The buyer was in a 1031 exchange and plans to hold this asset long term.”

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2024 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 13 consecutive years.

www.avisonyoung.com

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Media Contact: 
Darcie Giacchetto, Media Relations Specialist – West & Texas: +1.949.278.6224