• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Blog Home
  • Topics
    • Keystone Press Releases
    • Politics and Government
    • Legislation
    • Nevada News
    • Tourism & Gaming
    • Rural Nevada
    • Business
    • Opinion
  • Membership
  • Contact Us
  • About Keystone Nevada

Keystone Nevada Korner

Welcome to The Keystone Korner The Official Blog of Keystone Nevada

Home » Amazon warehouses sell for big money in Southern Nevada

Amazon warehouses sell for big money in Southern Nevada

June 5, 2022 by Pauline Lee

by Eli Segall, Las Vegas Review-Journal, June 4, 2022

A warehouse isn’t exactly the most exciting piece of real estate. As one developer put it to me years ago, it’s just four walls with a lot of air in between.

But these facilities make up a heated segment of Southern Nevada’s real estate market as builders put up waves of projects and landlords pay big money to own them.

Amazon has been a key reason for the growth — and if you want a glimpse at the e-commerce giant’s impact on local real estate, and how the industrial market overall has surged, venture near the Las Vegas Motor Speedway.

Developers have been packing the Speedway area with big warehouse projects lately, and at least three Amazon facilities there have traded hands within the past five years. Amazon’s buildings all sold a year or so after they were built — and the prices have skyrocketed.

Most recently, a Boston investment firm acquired an 857,000-square-foot Amazon warehouse for $226.4 million in April as part of a two-building acquisition along Tropical Parkway off Interstate 15, property records show.

By comparison, in late 2017, an 813,000-square-foot Amazon facility sold for $73.4 million as part of a two-building purchase along I-15 at Lamb Boulevard.

Amazon facilities are by no means the only warehouses to trade hands lately in Southern Nevada, and the retail powerhouse is one of many companies to occupy new industrial space in the valley.

But Amazon’s expansion in the region, and the prices investors have paid to own its buildings, highlight a rapidly growing sector of commercial real estate — a market fueled in no small part by an accelerated shift to online shopping that has generated demand for distribution space.

Cushman & Wakefield broker Greg Tassi, an industrial property specialist, said investor activity overall is “extremely active” for Southern Nevada warehouses.

He has seen record-breaking sales prices and noted that land values have accelerated.

“Industrial’s kind of a darling right now,” Tassi said.

Amazon, which has hundreds of distribution facilities in North America, boasted 13 operations sites in Nevada as of last fall.

Some are right near each other. Amazon has multiple big buildings near the Speedway, and in Henderson, it has a 147,000-square-foot distribution facility up the street from an Amazon facility that spans more than 600,000 square feet.

Amazon declined to comment for this story.

Filed Under: Business Tagged With: Amazon, Cushman & Wakefield, Las Vegas motor speedway

Primary Sidebar

Connect with Us

  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
Bootleg Bistro
Bootleg Bistro Ad
SLLC_Keystone_Blog-Ad_300x500_10%-Off-Repairs_05.19.21
CIOServices Ad 300x500-100
BRH Keystone Ad JPEG
Willow_Manor
Keystone Corporation Nevada

News Topics

  • Keystone Press Releases
  • Politics and Government
  • Legislation
  • Nevada News
  • Tourism & Gaming
  • Rural Nevada
  • Business
  • Opinion

Rural Nevada

30 new projects in Pahrump: Arby’s, Chipotle, Midas Muffler, 3 convenient stores & more

March 29, 2023 By Courtney Holland

By Robin Hebrock, Pahrump Valley Times, March 28, 2023 Business is booming in the Pahrump Valley, with dozens of new companies looking to bring … [Read More...] about 30 new projects in Pahrump: Arby’s, Chipotle, Midas Muffler, 3 convenient stores & more

UPS and AVK America plan to expand in Douglas County

March 19, 2023 By Courtney Holland

Staff Reports for The Record Courier, March 17, 2023 United Parcel Service plans to build a new 168,000 square foot building in Douglas County, … [Read More...] about UPS and AVK America plan to expand in Douglas County

Redwood Materials gets $2 billion federal loan for mega battery facility near Reno

February 12, 2023 By Pauline Lee

by Jason Hidalgo, Reno Gazette-Journal, February 9, 2023 Redwood Materials just secured a commitment from the federal government for a $2 billion … [Read More...] about Redwood Materials gets $2 billion federal loan for mega battery facility near Reno

LETTER: Voting by conscience or from pocketbook?

January 31, 2023 By vrobison

Not everyone enjoys or is interested in politics, but given the number of retirees in the Moapa and Virgin Valleys, I would imagine there is … [Read More...] about LETTER: Voting by conscience or from pocketbook?

Opinion

OPINION: NEVADA VIEWS: Government over the taxpayers

March 26, 2023 By Courtney Holland

By Robert Fellner, The Las Vegas Review Journal, March 25, 2023 The legislative proposal to raise Nevadans’ property taxes highlights why … [Read More...] about OPINION: NEVADA VIEWS: Government over the taxpayers

Hypocrite Biden blocks mineral mining his clean-energy goals require

March 24, 2023 By Pauline Lee

by Carrie Sheffield, New York Post, March 22, 2023 President Joe Biden claims he wants America to lead in “clean energy” production, but he’s again … [Read More...] about Hypocrite Biden blocks mineral mining his clean-energy goals require

OPINION: The ‘Green Amendment’ is well-intended — but that’s not enough

March 19, 2023 By Courtney Holland

By David Colborne, The Nevada Independent, March 19th, 2023 Supporters of AJR3, also known as the “Green Amendment,” want to protect Nevada’s … [Read More...] about OPINION: The ‘Green Amendment’ is well-intended — but that’s not enough

Tags

Adam Laxalt am post Build Back Better Business Business Columns Casinos & Gaming Catherine Cortez Masto Clark County Clark County School District Conventions COVID Department of Employment Training and Rehabilitation (DETR) Editorials Education employment Gov. Joe Lombardo Gov. Steve Sisolak Governor's Office of Economic Development (GOED) Housing inflation Inside Gaming Joe Lombardo las vegas Local Local Las Vegas Local Nevada lvcva mc-business mc-local mc-news mc-opinion mc-sports Nevada News NPRI Opinion Opinion Columns PAID Politics and Government Real Estate Insider Roe v. Wade Sports The Strip tourism Victor Joecks

Footer

Copyright © 2023 · Keystone Corporation - All Rights Reserved · Log in
Privacy Policy
By accessing this site, you are agreeing to our Terms of Use

The views, opinions and conclusions expressed by the authors of any article or post on the Keystone Korner are those of the author and do not necessarily reflect the opinions of Keystone Corporation or its officers and board members. Moreover, any reference to a person, party, product or entity does not constitute an endorsement or recommendation by Keystone Corporation or its officers and board members.