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Newly built warehouse project sells for $48.6M

A Dallas real estate firm has expanded its holdings in Southern Nevada with the purchase of a newly built warehouse project.

Lincoln Property Co. announced last week that it acquired West Craig Industrial Center, a three-building development in North Las Vegas, for $48.6 million.

The 343,820-square-foot project, on West Craig Road near North Fifth Street, was completed last year and is fully occupied, a news release said.

Lincoln’s acquisition follows its purchase, announced in May, of six industrial buildings near McCarran International Airport that span a combined 425,752 square feet.

The sales price was $72 million, property records indicated.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

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