North Las Vegas, NV - BLAK Cheyenne Industrial Park

Description:

SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire a NNN leased, newly constructed, 35,000 square foot industrial warehouse, part of a larger 56,500 square foot free standing industrial building, located in the BLAK Cheyenne Industrial Park in North Las Vegas, NV (Las Vegas MSA). The tenant, Reece Supply, LLC, a wholly owned subsidiary of publicly owned Reece Limited ($9+ billion revenue FY24) recently signed a brand new 18-year lease with 2 (5-year) options, demonstrating their commitment to the site. The lease features attractive 5% rental increases every three years, steadily growing NOI and hedging against inflation. The lease is corporate guaranteed by Reece Inc. and is NNN with minimal landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. The building is a class A facility with substantial tenant improvements, brand new state-of-the-art, concrete tilt-up construction, with modern amenities and design.

The building is strategically located at the signalized, hard corner intersection of W. Cheyenne Ave. and Allen Lane, averaging a combined 60,700 vehicles passing by daily. The property sits directly across the street from the North Las Vegas airport. The site benefits from excellent visibility and frontage along W. Cheyenne Ave. The site also has nearby access to Interstate 15 (201,000 VPD), a primary commuter freeway for travelers going to/from Las Vegas and Los Angeles. Additionally, the site is less than two miles from State Highway 95 (60,800 VPD). The property is located close to retail centers as it is less than two miles from the Cheyenne Market Place, a 78,000 square foot center anchored by Family Dollar & Reef Dispensary. Furthermore, the site is positioned less than three miles southwest of North Mesa Plaza, a 425,000 square foot shopping center anchored by Big Lots!, Old, Navy, Harbor Freight Tools, and more. The 5-mile trade area is supported by more than 490,577 residents and nearly 186,173 daytime employees with an average household income of $78,603.