Cushman & Wakefield Advises Sale of 441,500+ SF Class A Industrial Park in Las Vegas

Rhea-AI Summary

Cushman & Wakefield (NYSE: CWK) represented Prologis, Inc. in acquiring the Safari Business Park, a 441,569-square-foot industrial park in Las Vegas, Nevada. This property features five multi-tenant buildings and was approximately 82% leased at the time of sale. The leasable suites range from 10,280 sf to 15,300 sf. Cushman & Wakefield has been retained for Project Leasing, a strategic initiative led by their team to enhance the park's market presence.

Positive

• Successful representation of Prologis in a significant acquisition.
• Safari Business Park is a sizable asset with multiple tenants.
• 82% lease occupancy suggests strong demand for the property.

Negative

• None.

New landlord retains Cushman & Wakefield for Project Leasing

LAS VEGAS--(BUSINESS WIRE)-- Cushman & Wakefield (NYSE: CWK) announced the firm has represented Prologis, Inc., a global leader in logistics real estate, in the acquisition of the Safari Business Park, a 441,569-square-foot (sf) industrial park in Las Vegas, Nevada. The asset consists of five multi-tenant buildings located at 7650-7850 Dean Martin Dr, positioned at the Interstate 15 and Blue Diamond Rd interchange. The seller was Black Bongo, LP.

Greg Tassi, SIOR, Donna Alderson and Nick Abraham with Cushman & Wakefield in Las Vegas represented the buyer in the acquisition. The firm was also retained for Project Leasing, an effort being led by Tassi and Abraham together with Mathias Hughes and Lisa Brady of Prologis.

The park was approximately 82% leased at the time of sale, with available leasable suites currently ranging in size from approximately 10,280 sf to 15,300 sf. Each suite features multiple dock loading doors and one grade door. The property can accommodate a multitude of industrial uses including e-commerce and logistics.

Cushman & Wakefield's more than 1,000 Logistics & Industrial Services professionals around the world provide local market expertise and strategies for manufacturing, logistics, warehousing and supply chain. According to Cushman & Wakefield research, Q3 2021 was another record-breaking quarter for the U.S. industrial market, with demand, rents and the construction pipeline continuing to reach new heights.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211112005759/en/

Joshua Deale

Cushman & Wakefield

Communications Manager, West Region

+1 415 677 0423

joshua.deale@cushwake.com

Source: Cushman & Wakefield

FAQ

What is the recent acquisition by Cushman & Wakefield (CWK)?

Cushman & Wakefield represented Prologis, Inc. in acquiring the Safari Business Park, totaling 441,569 square feet in Las Vegas.

What percentage of the Safari Business Park was leased during the sale?

The Safari Business Park was approximately 82% leased at the time of sale.

What is the size range of the available suites at the Safari Business Park?

The available suites at the Safari Business Park range from approximately 10,280 square feet to 15,300 square feet.

Who represented Prologis in the acquisition of the Safari Business Park?

Greg Tassi, Donna Alderson, and Nick Abraham from Cushman & Wakefield represented Prologis in the acquisition.

What is the significance of the Project Leasing mentioned in the press release?

Cushman & Wakefield has been retained for Project Leasing to enhance the market presence of the Safari Business Park.