Lincoln Property Buys Gatski Commercial

Lincoln Property Co. has acquired Las Vegas-based Gatski Commercial, expanding its Nevada portfolio of leased and managed space by nearly 13 million square feet. The transaction brings the company’s total footprint in the state to more than 20 million square feet.

Gatski Commercial’s real estate services include investment, brokerage, property management, landscaping and building maintenance.

Lincoln Property Co.’s future growth into Las Vegas will be led by Gatski Commercial’s President and Chief Executive Office Frank Gatski.

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Founded in 1993, Gatski’s portfolio includes more than 1,200 tenants across more than 250 commercial properties, including industrial, office and retail asset types. According to Yardi Research Data, some of the largest industrial properties managed by Gatski in Las Vegas include:

• Central 7 Commerce Center, a 357,608-square-foot, multi-tenant asset in West Las Vegas, built in 1980
• Harmon Warehouse Center, a 147,187-square-foot property, also in West Las Vegas, constructed in 1985 and renovated in 2016
• Venturepoint Speedway Industrial Center in North Las Vegas, measuring 113,440 square feet, built in 2008

Lincoln Property Co.’s global leasing and management portfolio now spans more than 680 million square feet, with properties across the U.S., Europe and the U.K.

Strategic joint ventures and investments

Among the buyer’s active investments and projects in the U.S. is Eastport Logistics, a four-building, 681,920-square-foot industrial development in Boise, Idaho. The company formed a joint venture with One Investment Management and recently received $74.2 million in construction funds.

In March, through a joint venture with Goldman Sachs Alternatives, the company landed a refinancing agreement totaling $133 million for a project in Glendale, Ariz. The funds will be used for the second phase of Park303, an industrial campus set to encompass 2.4 million square feet.

At the start of this year, Lincoln formed another joint venture with Gigabit Fiber and Tradition Holdings for the development of a data center campus in South Dallas. Dubbed GigaPop, the four-building campus will provide up to 540 megawatts once completed.