Blackstone Unit Sells Vegas Industrial Park for $175M
This is one of the region’s largest deals of its kind this year.
NorthPoint Development has acquired Las Vegas Logistics Center, a Class A industrial portfolio spanning 1 million square feet across three facilities in North Las Vegas, Nev. This transaction marked one of the market’s largest infill industrial deals of the year.
Blackstone’s Link Logistics sold the collection for $175 million, while RGA Reinsurance Co. issued a $112.5 million acquisition note for NorthPoint, according to public records. Colliers brokered the deal and arranged the financing.
The trio carries the addresses 3837 and 3717 Bay Lake Trail, as well as 3200 E. Gowan Road. Sitting on more than 50 acres, the facilities are roughly 5 miles northeast of downtown Las Vegas. Interstate 15 runs within 2 miles, while the North Las Vegas Airport operates some 7 miles away.
READ ALSO: Specialized Demand: Industrial’s Next Chapter
Las Vegas Logistics Center encompasses a 2007-built facility spanning 513,240 square feet, as well as two buildings completed in 2003 and 2005, which measure 266,811 and 266,160 square feet, respectively. The warehouses have clear heights ranging between 30 and 32 feet and a total of 202 dock doors, among other specifications.
Additionally, the collection was fully leased at closing and had a weighted average lease term of 3.4 years. The tenant roster included Amazon, which operates its only returns-focused distribution center in metro Las Vegas from the site.
Colliers Vice Chair Michael Kendall, Senior Vice President Gian Bruno and Vice President Kenny Patricia brokered the deal on behalf of both entities. Executive Vice President Jeremy Thornton and Senior Vice Presidents Nicole Sayers and Andrew Gibson arranged the debt placement. Vice Chairs Dan Doherty and Paul Sweetland, as well as Executive Vice President Jerry Doty, provided market insight and leasing support.
Blackstone’s latest industrial moves
The sale marked the latest in a series of dispositions by Blackstone. The private equity giant kicked off 2025 by selling a 2.1 million-square-foot industrial collection to Goldman Sachs and Dalfen Industrial for $293 million. The portfolio spanned markets such as Dallas, Philadelphia and Las Vegas, among others.
More recently, Blackstone sold another industrial asset, this time a 200,000-square-foot facility in the City of Industry, Calif. MSI Computers Corp. paid $65.2 million for the facility.
The company’s industrial dealings don’t stop at divestitures. In March, Blackstone closed its Real Estate Debt Strategies V fund at $8 billion. And just last week, the company originated a $231 million refinancing note for a 293-acre industrial outdoor storage portfolio owned by Jadian Capital.
Investor industrial appetite grows in Vegas
Greater Las Vegas’ industrial investment volume reached $620 million during the first quarter, according to a Colliers report. About 3 million square feet of product changed hands in 46 transactions—nearly matching the entire sales activity of 2024.
Assets traded on average for nearly $204 per square foot during the first three months of 2025, the same source shows. Las Vegas Logistics Center was slightly cheaper, commanding a price of $167 per square foot.
In February, MDH Partners entered the market with the $94 million acquisition of a 509,000-square-foot park. Blackstone’s Link Logistics also sold that asset, dubbed Sunrise Industrial Park.
You must be logged in to post a comment.