Nicola Wealth Enters Las Vegas Real Estate Market


VANCOUVER, British Columbia, January 24, 2020 – Nicola Wealth Real Estate recently acquired a large  multi-tenant industrial portfolio, comprised of 276,443 sf  on 17 acres located just off the Las Vegas strip. The Nicola Wealth Real Estate team sees long term opportunity in this portfolio, the industrial asset class, and the Las Vegas area.

Located in close proximity to the new NFL Las Vegas Raiders Allegiant Stadium and the McCarran International Airport, this industrial portfolio comprises 13 buildings spread over three adjacent properties in a market with a low vacancy rate environment. This portfolio is well positioned for stable cash flow and is 98% leased to a diverse roster of small to medium bay tenants. The current in-place rents are 10% below the market average affording the opportunity for near term upside in income growth.

We acquired this industrial portfolio with a long term investment horizon,” says Mark Hannah, Managing Director – Nicola Wealth Real Estate, “this is our first acquisition in the Las Vegas market which helps establish a foothold to complement our strategy to build an industrial portfolio through acquisition and build to own to accompany our Nicola US Real Estate Fund.

A strong US economy has contributed to booming e-commerce, third-party logistics and last mile delivery fuelling the need for more industrial inventory. There is a general shortage of industrial space in Las Vegas and considering the recent decline in new construction, rent growth is expected to increase in a supply-constrained environment.

Las Vegas is an attractive investment market which is underpinned by a low vacancy rate, strong tenant demand and rental rate growth. The Nicola Wealth Real Estate team will continue to build on their position in this market to complement other target markets such as Denver, Phoenix and Seattle to further expand their real estate portfolio in the US.  To learn more about the Nicola Wealth Real Estate funds, you can visit www.realestate.nicolawealth.com

 

About Nicola Wealth Real Estate

Nicola Wealth Real Estate (NWRE) is the in-house real estate arm of Nicola Wealth, a premier Canadian financial planning and investment firm with $7-billion (CAD) of assets under management. NWRE has an innovative team that acquires and manages a growing diversified portfolio of properties in major markets across North America including asset classes comprising office, retail, industrial, multi-family residential, self-storage, and seniors housing. The current real estate portfolio is $4-billion in gross asset value.

About Nicola Wealth

Established in 1994, Nicola Wealth (www.nicolawealth.com) helps families and accomplished individuals across Canada build financial legacies with purpose, delivering the stability, security, and resources they need to focus on goals and aspirations that extend beyond wealth.  The firm manages $7-billion in assets, providing portfolio diversification well beyond stocks and bonds, comprehensive and integrated wealth planning, and consistent and stable returns.

 

Media Contacts:

Victoria Emslie
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Timothy Cuffe
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