The firm acquired a 9.14 acre corner site centrally located in the Northern Las Vegas submarket, currently occupied by a truck terminal with future development potential.
Las Vegas, NV, June 29, 2022 – Nicola Wealth Real Estate (NWRE) has acquired 3814 Donna Street, located in Las Vegas, Nevada, just minutes from the I-15 and Las Vegas Boulevard. This transaction, brokered by Chris Beets of System CRE Las Vegas and Rob Lujan of JLL, expands NWRE’s presence to nine properties in this market.
This 9.14 acre site is situated in an established industrial node known as the North Las Vegas submarket, and includes structures comprising 19,148 sf and ample yard space supporting the current use as an Industrial Outside Storage (“IOS”) facility. The property provides optionality to lease as an infill IOS facility, or future redevelopment for a modern industrial distribution building.
“We are excited to add 3814 Donna Street to our Vegas Portfolio,” highlights Matthew Schaeffers, Director of Acquisitions at Nicola Wealth Real Estate. “Infill low site coverage IOS facilities are scarce in a low vacancy market such as Las Vegas.”
“Given the property’s location and lack of comparable product in the market, it will continue to experience high tenant demand from outside storage users, while we plan the redevelopment for a modern industrial distribution building at a future date,” Schaeffers adds.
NWRE is concentrated on growing in major US markets such as Las Vegas, Phoenix, Denver, Dallas / Ft. Worth, San Francisco, Minneapolis and Seattle with a focus on acquiring income-producing properties, executing build-to-own development and value-add strategies.
To learn more about the Nicola Wealth Real Estate funds, visit realestate.nicolawealth.com
About Nicola Wealth Real Estate
Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with $12.1 billion (CAD) of assets under management (AUM). NWRE has an experienced and innovative team that sources and asset-manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, multi-family rental apartment, office, self-storage, retail and seniors housing. The current NWRE portfolio now exceeds $7.3 billion gross asset value.
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