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Avison Young announces $4.75 million sale of a 17,776-sf office/warehouse building to owner-user in Henderson, NV
August 15, 2023
Las Vegas, NV – Avison Young announced today the $4.75 million sale of a 17,776-square-foot (sf) office/warehouse building located at 7440 Commercial Way in Henderson, NV.
Avison Young Principals Joe Leavitt, Chris Lexis and James Griffis represented the seller, Diamond Mountain Properties, LLC. The buyer R.E. Michel Company, was self-represented. R.E. Michel Company, one of the nation's leading wholesale distributors of HVAC/R equipment, parts and supplies, will occupy the entire building.
“With a 1.7% vacancy rate for the greater Las Vegas area and an extremely low .7% vacancy rate in Henderson, the industrial market remains very strong,” said Griffis.
Lexis added, “This asset had an ideal size for a single-tenant investment or an owner-user scenario, therefore we had a significant amount of interest from both investors and occupiers.”
Built in 2001 and situated on 1.19 acres, the property features just under 4,000 sf of office space, 28’ clear height, one dock-level door, one-grade level-door and 31 parking stalls.
The asset is located just east of U.S. 95/I-515 and south of Warm Springs Road. The location also allows easy access to the 215 freeway. It is 12 miles from Harr Reid International Airport.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.