Skyline Industrial Portfolio. Picture courtesy of Colliers
Hyperlink Logistics has acquired the Skyline Industrial Portfolio, a six-building assemblage totaling 350,712 sq. ft and 18.4 acres, within the southwest submarket of Las Vegas. Colliers represented the undisclosed non-public vendor. The transaction was valued round $80 million.
Skyline’s six buildings are at:
- 3555 Ponderosa Manner (69,144 sq. ft)
- 6065 S. Polaris Ave. (162,860 sq. ft)
- 5435 Procyon St. (39,992 sq. ft)
- 5440 Procyon St. (39,916 sq. ft)
- 5480 Procyon St. (23,800 sq. ft)
- 3950 W. Oquendo Highway (15,000 sq. ft)
The portfolio is totally leased to a diversified hire roll of 14 tenants from varied employment sectors, based on Colliers.
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Colliers’ Western Area Industrial Capital Markets Group, consisting of Michael Kendall, Gian Bruno and Kenny Patricia, partnered with Colliers’ Las Vegas market consultants Dan Doherty, Paul Sweetland, Chris Lane and Jerry Doty in advertising and marketing the portfolio.
The Las Vegas industrial market continues to boast strong fundamentals and robust demand, stated J.R. Cisneros, vp of investments for the Las Vegas market at Hyperlink Logistics, in a ready assertion. He added that buying this portfolio matches with Hyperlink’s “market funding technique of including high-quality infill properties to our Las Vegas footprint.”
Lively all over the place
The Las Vegas industrial area market is tight, at 4.2 p.c general—and only a super-tight 0.7 p.c for Class An area—based on a first-quarter report from JLL.
Web absorption within the first quarter was almost 1.4 million sq. ft, on a list of 111.8 million sq. ft. A document 12.9 million sq. ft of area is at present underneath building; higher but, 38 p.c of that’s preleased.
In the meantime, Hyperlink has been lively all throughout the nation just lately.
In January, it offered a seven-building, 376,218-square-foot industrial portfolio in suburban Minneapolis–St. Paul to Biynah Industrial Companions. JLL Capital Markets represented the vendor and organized an acquisition mortgage.
In March, Hyperlink landed GXO Logistics as a full-building tenant for a 611,000-square-foot warehouse in South Brunswick, N.J. Hyperlink will renovate the property, inbuilt 1989, earlier than GXO takes occupancy.
And in a $263 million deal simply final month, Hyperlink offered a seven-property, 851,131-square-foot industrial portfolio in Orange County and Los Angeles County, Calif., to a three way partnership of George City Advisors, 5 Horizons Companions and DRA Advisors.
