TCC Starts Construction on Next Phase of North Las Vegas Development

The Newport Beach office of Trammell Crow Company (TCC) and Washington Capital Management, on behalf of their client, announce that they have signed a new tenant and commenced construction on Phase III of the 134.7-acre Golden Triangle Logistics Center in North Las Vegas, Nevada. Phase III will include 600,000 square feet of industrial space across two Class A buildings and will bring the development’s footprint to nearly 2.3 million square feet of space across five buildings. At full build out, Golden Triangle Logistics Center will include nearly 2.9 million square feet across six facilities.

Buildings 4 and 5 are part of the third phase of development at Golden Triangle:

• Building 4 is located on the southwest corner of East Washburn Road and Statz Avenue and includes 400,371 square feet. On track for a mid-year 2023 completion, the rear-load facility offers 36-foot clear height, 63 dock-high truck doors, two drive-in doors, and parking for 338 cars and 74 trailers.
• Building 5, located at 2815 East Washburn Road, includes 202,705 square feet that is pre-leased to Fasteners Inc. Southwestern Supply. Slated for a spring 2023 occupancy, the rear-load facility will feature 36-foot clear height, 29 dock-high truck doors, one drive in door, and parking for 127 cars and 35 trailers. The tenant, a wholesaler of construction equipment and supplies, will use the facility as its West Coast distribution hub.

“This is the second tenant to commit to Golden Triangle Logistics Center before we started vertical construction,” said Tom Bak, Senior Managing Director with TCC. “This is a testament not only to the strength of the North Las Vegas industrial market and our team, but also to the quality of the development and its excellent location.”

Rob Lujan, SVP of Logistics & Industrial with JLL, represented Fasteners Inc. Southwestern Supply in the lease. Donna S. Alderson, Executive Managing Director with Cushman & Wakefield, and Kevin J. Higgins, an Executive Vice President with CBRE's Industrial & Logistics Group, serve as the leasing agents for Golden Triangle.

The first phase of Golden Triangle was completed in 2020 and includes two buildings totaling more than 1 million square feet. Whitebox Technologies, an e-commerce marketplace management company, signed a lease for the entire 350,528-square-foot Building 1. Building 2 houses wholesale grocery distributor Brothers Trading Co. Inc., which occupies 455,358 square feet, and ShipHero LLC, an e-commerce fulfillment company that occupies 196,652 square feet. Phase II, a single 652,000-square-foot facility, is fully leased to a manufacturing company and was delivered in April 2022.

“North Vegas is the largest industrial submarket in Las Vegas, but just 0.3% of the 60 million square feet of inventory was vacant as of mid-year 2022,” said Jared Riemer, Senior Vice President with TCC, adding that average asking lease rates rose 33% over the year, setting record highs, as per CBRE research.

The facilities at Golden Triangle are designed with state-of-the-art features that are attractive to e-commerce companies, such as 36-foot and 37-foot clear heights with ESFR fire sprinklers; build-to-suit office space; seven-inch floor slabs; 60 mil white PVC single ply roofing; 185-foot secured, concrete truck courts; abundant dock-high loading; and ample parking for trailers and cars. The facilities are all designed to meet North Las Vegas energy standards and feature energy-efficient lighting and insulation, along with drought-tolerant landscaping to reduce water usage.

The Golden Triangle development site provides direct access to Interstate 15 via Craig Road. The project has benefitted from its proximity to the strong labor pool in North Las Vegas. Additional land within Golden Triangle provides users with potential expansion flexibility.