by Eli Segall, Las Vegas Review-Journal, February 4, 2022
A new warehouse complex near Las Vegas Motor Speedway has sold for more than $120 million, as demand for industrial buildings shows no sign of slamming the brakes.
Developer CapRock Partners announced this week it sold a two-building, 684,000-square-foot project in North Las Vegas near the 215 Beltway-Interstate 15 interchange.
The complex, CapRock Interchange Industrial Center, is fully leased, it said.
CapRock did not announce the sales price or the buyer, though property records show it traded for nearly $123.9 million.
Clark County property records and Nevada business-entity filings indicate the buyer is linked to Toronto real estate giant Dream, which boasts more than $13 billion in assets in North America and Europe.
Companies under its umbrella unveiled in June that they were working to launch a U.S. industrial investment fund, which was apparently behind the North Las Vegas purchase, according to county, state and Securities and Exchange Commission records.
Multiple attempts to speak with Dream executives for this story were unsuccessful.