BLT Enterprises announced that it has acquired an 88,457 square-foot industrial warehouse in Las Vegas that was leased back for one year to the seller, Fortune 500 food and beverage company PepsiCo. Once the lease term ends, BLT plans to upgrade the property with several enhancements for a future tenant.
The property sits on 8.41 acres and is located near the junction of the Interstate 15 and State Route 592, just two miles from the Las Vegas Strip. The infill location and low coverage make it an ideal warehouse hub for servicing the multitude of businesses on and around the Strip, according to Lukas Huberman, partner and director of acquisitions at BLT Enterprises.
“While our portfolio has historically remained within California, we were drawn to this opportunity to deepen a relationship with a longstanding tenant in a strong market poised for further growth,” said Huberman. “We are constantly on the lookout for new avenues to solidify and grow our partnerships