Rockefeller Group Eyes Spec Project in Vegas

Craig Road Logistics Center is the company’s third project in Las Vegas. Image courtesy of The Rockefeller Group

The Rockefeller Group has acquired the site of a former Walmart Supercenter in Las Vegas to develop two speculative industrial buildings spanning 369,198 square feet. The project is named Craig Road Logistics Center and is the company’s third industrial development in the metro.

The largest building at Craig Road Logistics Center will comprise 227,660 square feet and include 36-foot clear heights, along with 176 auto-parking stalls and 29 dock doors. The second one is set to total 141,538 square feet with 32-foot clear heights, 219 auto-parking stalls and 18 dock doors.

Located at the intersection of Craig Road and North Nellis Boulevard, the 19-acre site is close to Interstate 15 and roughly 7 miles from downtown Las Vegas. It is 20 miles from Harry Reid International Airport, as well as some 5 miles from the Las Vegas Intermodal Yard. It is also less than 3 miles away from Cheyenne Industrial Park, a 145,630-square-foot project being developed by Rockefeller Group on North Lamb Boulevard.

Vacancy and absorption remained strong in Q2

Lee & Sakahara Architects will design the building and TWC Construction will serve as general contractor. JLL’s Managing Director Jason Simon and Vice President Rob Lujan will be the project’s listing brokers.

Rockefeller Group Senior Associate James Wall mentioned in prepared remarks that the company’s expansion in Las Vegas is driven by the tenant interest in its previous projects in the metro. Wall also added that at the end of 2023’s second quarter Las Vegas registered 1.6 percent vacancy and a net absorption of approximately 3.1 million square feet, further emphasizing the metro’s robust industrial market.