The three-building complex will rise off the southwest corner of Cheyenne Avenue and Lincoln Road in North Las Vegas. Dermody recently paid approximately $9.3 million for the development site, which totals 19.89 acres and is pad-ready.
The development includes a 75,000-sf rear-loaded facility; a 210,000-sf cross-docked facility and a 123,750-sf rear-loaded facility that likely will be broken up into 15,000-sf to 50,000-sf chunks. All three tilt-wall buildings will have a 30-foot clear height.
The project expected to break ground by the end of this year. Completion is expected in the third quarter 2009. Asking rates will range from $0.52 to $0.70 per sf per month, NNN, depending on the size of the lease, the tenant improvements and the tenant's credit rating.
The development is being spearheaded by Par Tolles, a former principal and Nevada area director with Trammell Crow Co. who left last year to help Michael Dermody rebuild Dermody Properties, which sold off the bulk of its joint-venture industrial portfolio last year in a $1.8-billion transaction. For GlobeSt.com's September feature on the rebuilding of Dermody Properties, click here .
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