Novva Data Centers Pays $45M for Las Vegas Facility

Tropical Distribution Center Building IV. Image courtesy of VanTrust Real Estate

Novva Data Centers has acquired the recently completed Building IV within the 1.6 million-square-foot Tropical Distribution Center industrial development in Las Vegas. According to Clark County Records, VanTrust Real Estate sold the 246,400-square-foot property for $45.2 million.

Novva has already started work on its 100-megawatt facility at the location, planned for completion in 2023 and representing the company’s first property in Nevada. HPA Architecture was the designer of the building, while Martin-Harris Construction acted as general contractor.

Tropical Distribution Center is a 120-acre industrial park in North Las Vegas, with its tenant roster including Sephora. In 2020, VanTrust sold the 855,000-square-foot Building 1 to Preylock Holdings in a blockbuster deal. The property represents the largest Amazon-leased facility in the state.

Building IV is a Class A industrial facility that sits on 15.3 acres at 6115 N. Nico Way, providing access to interstates 15 and 215 via Tropical Parkway. It features 36-foot clear heights, 43 dock high doors, two grade-level doors and a large truck court. Additionally, 51 trailer parking spaces and 203 car parking spots are also part of the property.

Other industrial facilities in the area include Packaging Corp. of America, Bed Bath & Beyond, Niagara Bottling and FedEx, among others.

VanTrust’s active industrial portfolio

Since the beginning of the year, VanTrust broke ground on several industrial facilities in various parts of the U.S. In April, the company started construction on Peoria Logistics Park, a 157,000-square-foot build-to-suit distribution center for Frito Lay, located in Peoria, Ariz. That same month, the company acquired a developing site in the Cornerstone industrial area of San Antonio, to build 413,173 square feet of speculative space across two buildings.

VanTrust’s projects in Las Vegas also include the eight-building Northgate Distribution Center, a 3.5 million-square-foot industrial park and Vantage North, a 4.5 million-square-foot development. The first two spec buildings at Vantage North are scheduled for completion in October 2023.