Lincoln Property Co. Preleases 562 KSF in Las Vegas
CBRE brokered the deals.
Lincoln Property Co. has signed two preleasing deals totaling 561,742 square feet at Windsor Commerce Park, an under-construction Class A industrial campus in Las Vegas. The project will total 1.6 million square feet, of which more than 35 percent is now leased.
CBRE’s team of Vice Chairmen Kevin Higgins and Garrett Toft, together with Senior Vice President Jake Higgins and Associate Kelsey Higgins represented the landlord during leasing negotiations and serve as the exclusive leasing agents marketing Windsor Commerce Park.
This is Lincoln Property Co.’s first ground-up industrial project in Nevada. LPC Desert West, the company’s Southwest division, broke ground on Windsor Commerce Park in April last year. The developer purchased the site in August 2022 for $22 million, with R&O Construction tapped as general contractor and Lee & Sakahara Architects as designer.
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Windsor Commerce Park will encompass eight buildings, all currently underway, with delivery scheduled for the first quarter of next year. These will range in sizes from 49,920 to 397,440 square feet and will include clear heights between 30 to 36 feet, rear loading and cross dock configurations, ESFR sprinkler systems and large clerestory windows.
With this deal, Windsor Commerce Park’s largest facility is now 100 percent preleased to a major HVAC supplier. The 397,440-square-foot Building G is at 2300 W. Carey Avenue and includes a 3,344-square-foot office component, amble column spacing, 60-foot speed bays, 90 dock high doors, four drive-in doors, 250 vehicle parking spots and 68 trailer parking spots.
The 296,400-square-foot Building A is now 55 percent preleased to a global e-commerce shipping company. The facility is at 2750 Simmons St. and features 2,951 square feet of office space, 49 dock high doors, four drive-in doors, 282 vehicle parking spots and 23 trailer parking spots. Illinois-based OSM Worldwide is the tenant here, set to occupy 164,320 square feet, according to CommercialEdge data.
Windsor Commerce Park is on 87 acres next to North Las Vegas Airport, 10 miles from Harry Reid International Airport, 20 miles from Henderson, Nev. and within 36 miles of Boulder City, Nev. Additionally, Windsor Commerce Park provides access to U.S. Route 95, as well as to interstates 15 and 515, while being within a five-hour drive of Ports of Los Angeles and Long Beach and within a seven-hour drive from Reno, Nev.
Lincoln Property Co.’s megaprojects
Lincoln Property Co. delivered one of the largest industrial projects to come online last year in the western region. The company’s LPC Desert West completed the second phase of Park303, adding approximately 2.5 million square feet of industrial space to the Glendale, Ariz. market. With the completion of the second phase Park303 now totals 3.7 million square feet.
In October last year, the company broke ground on a $515 million industrial project in the same area. Dubbed Luke Field, the industrial development is set to encompass 2.4 million square feet, with delivery scheduled for late 2024.
