{"id":1004431612,"date":"2020-05-07T03:51:27","date_gmt":"2020-05-07T11:51:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004431612"},"modified":"2022-03-03T03:29:01","modified_gmt":"2022-03-03T11:29:01","slug":"las-vegas-commercial-real-estate-wrap-up-april-2020","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/las-vegas-commercial-real-estate-wrap-up-april-2020\/","title":{"rendered":"Las Vegas Commercial Real Estate Wrap-Up \u2013 April 2020"},"content":{"rendered":"<div id=\"attachment_1004431636\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Las-Vegas-e1588843639901.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004431636\" data-attachment-id=\"1004431636\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/las-vegas-commercial-real-estate-wrap-up-april-2020\/las-vegas-4\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Las-Vegas-e1588843639901.jpg\" data-orig-size=\"1068,801\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1446165585&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Las Vegas\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Las Vegas&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Las-Vegas-e1588843639901.jpg?w=1024\" class=\"wp-image-1004431636 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Las-Vegas-e1588843639901.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Las-Vegas-e1588843639901.jpg 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Las-Vegas-e1588843639901.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Las-Vegas-e1588843639901.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Las-Vegas-e1588843639901.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004431636\" class=\"wp-caption-text\">Las Vegas. <em>Image via Pixabay.com<\/em><\/p><\/div>\n<p>April was a relatively quiet month for Las Vegas\u2019 commercial real estate, as the novel coronavirus left a mark on the metro&#8217;s economy.&nbsp;Although <a href=\"https:\/\/www.commercialsearch.com\/news\/las-vegas-deals-sputter-as-casinos-shutter\/\">investment faded for most property types<\/a>, demand for industrial assets drove a healthy deal volume. The city&#8217;s infrastructure also got a boost with federal financing approved for Brightline&#8217;s high-speed rail project.&nbsp;Here\u2019s our April selection of Las Vegas must-reads:<\/p>\n<p><strong>1. DEAL \u2013 Lincoln Property makes $72 million industrial buy.<\/strong><\/p>\n<p>Brookfield Properties sold six industrial buildings totaling 425,700 square feet within the 3.3 million-square-foot Hughes Airport Center, Yardi Matrix shows. Developed between 1987 and 1991, the assets are located within an Opportunity Zone on more than 25 acres at 890 and 950 Pilot Road, 1151 Grier Drive and 1181 Grier Drive. The business park is near Interstate 215, some 3 miles south of McCarran International Airport.<\/p>\n<p><strong>2. FINANCING \u2013 DesertXpress scores federal funding.<\/strong><\/p>\n<p>Brightline\u2019s high-speed rail project between Las Vegas and Los Angeles received approval for tax-exempt bonds, according to <em>The Real Deal<\/em>. With financing in place, the company intends to break ground on the 270-mile line by the end of this year, citing no anticipated delays due to the COVID-19 pandemic. DesertXpress is slated for completion in 2023.<\/p>\n<p><strong>3. DEAL \u2013 BKM Capital Partners sells airport-area warehouse.<\/strong><\/p>\n<p>The company <a href=\"https:\/\/www.commercialsearch.com\/news\/las-vegas-airport-warehouse-trades-for-16m\/\">traded the 17,047-square-foot asset<\/a> for $16 million. The buyer, a private investor, received acquisition financing from the seller.&nbsp;The property is located at 1856 E. Pama Lane within the Spencer Airport Center and represents the eastern half of a larger, 31,231-square-foot structure. BKM remains the owner of the western component.<\/p>\n<p><strong>4. DEAL \u2013 Clarion Partners buys industrial facility.<\/strong><\/p>\n<p>Western Devcon sold the 83,125-square-foot asset for $12.1 million, according to Yardi Matrix information. Situated on 3.6 acres at 845 E. Pilot Road, the Class A property delivered in two phases in 1991 and 1997. The building has nine dock-high loading doors and a single drive-in door. McCarran International Airport is less than 3 miles north of the facility.<\/p>\n<p><strong>5. DEAL \u2013 Berg Advisory Group arranges retail center sale.<\/strong><\/p>\n<p>Parkview Plaza, a 25,120-square-foot multi-tenant property anchored by PT\u2019s Pub, traded for $6.5 million, according to <em>CRE Confidential Las Vegas<\/em>. The buyer assumed an existing CMBS loan from the seller which matures in 2025. Located 10 miles southwest of downtown Las Vegas at 3935-3955 S. Durango Drive, the retail center was 89 percent occupied at the time of sale.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lincoln Property makes $72 million industrial buy. DesertXpress approved for federal funds. Read our April selection of Las Vegas must-knows.<\/p>\n","protected":false},"author":870,"featured_media":1004431636,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1593,15],"tags":[48884,33648,38603,33497,32790,32838],"class_list":["post-1004431612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-las-vegas","category-west","tag-thewrapup","tag-bkm-capital-partners","tag-brightline","tag-brookfield-properties","tag-clarion-partners","tag-lincoln-property-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Las Vegas Commercial Real Estate Wrap-Up \u2013 April 2020 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/las-vegas-commercial-real-estate-wrap-up-april-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Las Vegas Commercial Real Estate Wrap-Up \u2013 April 2020\" \/>\n<meta property=\"og:description\" content=\"Lincoln Property makes $72 million industrial buy. 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Read our April selection of Las Vegas must-knows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/las-vegas-commercial-real-estate-wrap-up-april-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-07T11:51:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T11:29:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Las-Vegas-e1588843639901.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1068\" \/>\n\t<meta property=\"og:image:height\" content=\"801\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/las-vegas-commercial-real-estate-wrap-up-april-2020\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/las-vegas-commercial-real-estate-wrap-up-april-2020\\\/\"},\"author\":{\"name\":\"Adriana Marinescu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d8680cf55f814fe2742cf94207212af1\"},\"headline\":\"Las Vegas Commercial Real Estate Wrap-Up \u2013 April 2020\",\"datePublished\":\"2020-05-07T11:51:27+00:00\",\"dateModified\":\"2022-03-03T11:29:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/las-vegas-commercial-real-estate-wrap-up-april-2020\\\/\"},\"wordCount\":393,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/las-vegas-commercial-real-estate-wrap-up-april-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/05\\\/Las-Vegas-e1588843639901.jpg\",\"keywords\":[\"#TheWrapUp\",\"BKM Capital Partners\",\"Brightline\",\"Brookfield Properties\",\"Clarion Partners\",\"Lincoln Property Company\"],\"articleSection\":[\"Investment\",\"Las Vegas\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/las-vegas-commercial-real-estate-wrap-up-april-2020\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/las-vegas-commercial-real-estate-wrap-up-april-2020\\\/\",\"name\":\"Las Vegas Commercial Real Estate Wrap-Up \u2013 April 2020 - 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