The SoCal-Newport Beach office of Trammell Crow Company (TCC) and Washington Capital Management, Inc., on behalf of their client, have begun construction of a speculative industrial development in North Las Vegas, Nevada. The project, known as Golden Triangle, will span a total of 127 acres and include 2.7 million square feet of Class A logistics space. The first phase of the project, which is now under construction, includes approximately one million square feet of industrial space. The first phase of construction is expected to be completed in September 2020.
“We see a great deal of potential in the Las Vegas industrial market, given the area’s robust population and job growth,” said Tom Bak, Senior Managing Director of Trammell Crow Company’s SoCal—Newport Beach office. “Trammell Crow Company is a customer-centric organization – we will continue to source opportunities in the Las Vegas market and in the various markets across the country where our clients operate. We have had several successful deals with Washington Capital Management, and we are pleased to continue our partnership in Las Vegas.”
The first phase of Golden Triangle includes the development of an approximately 350,500-square-foot rear-loader and an approximately 652,000-square-foot cross-dock. Phase I also includes rough grading for an approximately 675,400-square-foot cross dock, to be built during Phase II. The two speculative buildings will feature 37-foot clear heights with ESFR fire sprinklers; seven-inch floor slabs; 185-foot secured, concrete truck courts; and abundant dock-high loading and parking.
“Following the successful outcome of previous development projects with Trammell Crow Company, we welcome the opportunity to work with them again on this project,” said Cory Carlson, President, CEO and CIO, Real Estate for Washington Capital. “We believe our clients’ interests are best met when we partner with the right team of professionals to execute on development projects.”
The Golden Triangle development site is located in the city of North Las Vegas and provides direct access to Interstate 15 via Craig Road. The location is closer to North Las Vegas’ strong labor pool compared to the handful of competitive properties near the Las Vegas Speedway.
CBRE Las Vegas’ Kevin Higgins and Donna Alderson are the leasing agents for the property.
About Washington Capital Management, Inc.
Washington Capital Management, Inc. (WaCap) is an employee owned investment advisory firm founded in 1977. WaCap headquarters are located in Seattle, Washington, with branch offices in Portland, Boston, Spokane, Southern California and Northern California. WaCap manages assets in real estate equity, real estate debt, real assets, fixed income and stock strategies; primarily for institutional clients. WaCap provides a diverse menu of investment products, including equity real estate investments, commercial mortgages, and construction loans. Visit www.wa-cap.com.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of September 30, 2019, TCC had $10.9 billion of projects in process and $3.5 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2018 revenue). For more information visit www.TrammellCrow.com.
