Intersection Equities is pleased to announce the acquisition of Desert Canyon Industrial Park, a 95,364 square foot, small bay industrial business park in Henderson, Nevada. The asset was purchased for $16.95 million. Colliers represented the Seller, Nicola 249 Elliott LP, and Erik Sexton and Camila Rosales of NAI Vegas represented the Buyer, a joint venture between an affiliate of Intersection Equities, LLC and a fund managed by Equity Resource Investments, LLC.

Desert Canyon Industrial Park (the “Property”) spans 95,364 square feet across five buildings, constructed between 2001 and 2007. The Property is comprised of 36 total suites ranging in size from 2,400 to 3,200 square feet, featuring 16 to 18 ft clear heights and a total of 63 grade-level doors. The Property is located within the Henderson submarket which currently maintains a 2.4% vacancy rate, with no known competing small bay industrial developments planned in Henderson. We believe the Property is appealing to tenants given its proximity to Interstate 11 & SR 585, and what we believe to be a strong pipeline of residential and mixed-use developments in the area.

“We acquired this transaction with debt and equity partners who appreciated the fundamentals of the Property,” said CEO and Co-founder at Intersection, Rocco Cortese. “It is well located, and we believe offers us an attractive going-in cap rate as well as upside potential, something that is difficult to find in this market.”

“This is our 6^th industrial acquisition and our 3^rd in the Las Vegas area. We know this market well and believe in the demand characteristics for small bay industrial,” added Anton Myskiw, Senior Associate at Intersection.

Intersection plans to complete a light renovation at the project and engage in a proactive management program focused on increasing tenant satisfaction, enhancing curb appeal, and marking rents to market.

To learn more about this project or the deal, please reach out to Anton Myskiw @[email protected]

Natalie Baylon is the Marketing Manager at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please get in touch with Natalie at [email protected]