Warehouse near Nellis Air Force Base sells for more than $21M
A warehouse developer has sold a fully leased building near Nellis Air Force Base.
CapRock Partners recently announced that it sold a 101,332-square-foot industrial building in the northeast Las Vegas Valley to EastGroup Properties.
It did not disclose the sales price, but property records show the developer sold the facility this month for more than $21 million.
The building, CapRock Point @ Cheyenne, is at the corner of Cheyenne Avenue and Walnut Road.
CapRock, based in Newport Beach, California, said in a news release that it finished construction on the project in 2022 and that the building, at 3921 E. Cheyenne Ave., was fully leased at the time of sale.
A company called NEXgistics occupies the building, its website shows. Its services include inventory management, e-commerce fulfillment, transportation and delivery, and warehousing and distribution.
EastGroup, based in Ridgeland, Mississippi, has acquired other warehouse properties in Southern Nevada.
In 2019, for instance, it acquired a then-newly built industrial park at the corner of Russell Road and Edmond Street — near Allegiant Stadium — for almost $25.5 million.
EastGroup did not respond to a request for comment Monday on its latest purchase.
The industrial real estate firm says that it focuses on high-growth markets throughout the U.S. and that its portfolio, including development projects and acquisitions, includes around 65 million square feet.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.
