Clarion Closes $206M Vegas Industrial Purchase
This was the market’s largest deal of its kind since 2023.
Clarion Partners has acquired three buildings totaling 1.3 million square feet at the Golden Triangle Logistics Center in North Las Vegas, Nev., from Washington Capital. Newmark brokered the deal. Trammell Crow Co. developed the park.
Public records reveal a combined sale price of $205.6 million, which, according to Newmark data, marks the largest industrial transaction by sale price across the Las Vegas market since 2023.
The facilities debuted in 2022 and 2024, marking the park’s phases two and three. Stage one consisted of two buildings totaling 1 million square feet that came online in 2020. Clarion purchased the duo for $149.9 million in 2022.
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The tenant roster at the newly traded warehouses includes Reckitt Benckiser, a manufacturer that signed a full-building lease for 652,010 square feet, valued by SIOR at $53.1 million, as well as Fasteners Inc. Southwestern Supply and Ghost Beverages. The facilities were 84 percent leased.
Located at 2655, 2815 and 3375 E. Washburn Road, the buildings are near the interchange between Interstate 15 and Clark County 215 Beltway. The surrounding area is among Vegas’ most supply-heavy industrial submarkets, with an inventory that has barely increased in the past two years. Another nearby warehouse traded earlier this year for $124 million when PCCP acquired the Amazon-leased facility from Blackstone, Yardi Matrix shows.
The lack of new construction, together with improved leasing fundamentals, is supporting underwritten rent growth and expanding buyer pools across many other markets throughout the U.S., Newmark Co-Head of U.S. Capital Markets Kevin Shannon said in prepared remarks.
Newmark Executive Managing Director Andrew Briner and Vice Chairman Ken White negotiated on behalf of Washington Capital. Shannon provided executive oversight.
Cap rates go up as the financing environment tightens
In Southern Nevada, industrial investment remained steady with the sale volume clocking in at $679.7 million during 2026’s first nine months, according to a Colliers report. The average cap rate during the third quarter stood at 6.1 percent, marking an increase of 130 basis points year-over-year, which reflects the elevated cost of capital.
Nearly 3.4 million square feet of industrial product changed hands year-to-date through September across 45 transactions with an average price per square foot of $201.3, the report shows. Clarion’s acquisition closed below the market average at $158.1 per square foot.
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