Canadian investor enters Las Vegas real estate market

Canada-based Nicola Wealth Real Estate has acquired a large multitenant industrial portfolio, comprising 276,443 square feet on 17 acres located just off the Las Vegas strip. The Nicola Wealth Real Estate team sees long-term opportunity in this portfolio, the industrial asset class and the Las Vegas area.

The seller was CapRock Partners. The sales price was not disclosed.

We acquired this industrial portfolio with a long term investment horizon,” said Mark Hannah, managing director with Nicola Wealth Real Estate. “This is our first acquisition in the Las Vegas market, which helps establish a foothold to complement our strategy to build an industrial portfolio through acquisition and build-to-own to accompany our Nicola U.S. Real Estate Fund.”

Located in close proximity to the new NFL Las Vegas Raiders Allegiant Stadium and the McCarran International Airport, this industrial portfolio comprises 13 buildings spread over three adjacent properties in a market