Dermody Properties Announces Completion and Lease of LogistiCenter℠ at Sunset
Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to announce the completion of LogistiCenter℠ at Sunset, a 151,200-square-foot, state-of-the-art, e-commerce-ready property at Sunset Road and Bruce Street in Las Vegas. The entire building has been leased to CAE, a high-technology company that provides support and training solutions in civil aviation, defense and security, and healthcare.
“CAE will find that LogistiCenter℠ at Sunset is beneficial to their strategic business plan as it offers one of the most centrally located addresses in town, as well as close proximity to West Coast distribution hubs,” said John Ramous, Partner in Nevada for Dermody Properties. “In addition, the location provides access to a strong labor force of approximately 944,000 employees from across Southern Nevada, and unmatched visibility to the millions of monthly travelers to and from McCarran International Airport.”
This will be an additional training location for CAE, but the company’s first location in Nevada.
LogistiCenter℠ at Sunset is located approximately one mile from the Interstate-215/Interstate-15 interchange, five miles from the Resort Corridor, and within 10 miles of major FedEx and UPS distribution hubs.
“In addition to its valuable access to the Western United States, Nevada offers a unique business tax climate with benefits such as no corporate income tax, no admissions tax, and no personal income tax, making the market more attractive than ever,” said Elizabeth Kauchak, Chief Operating Officer at Dermody Properties. “We are pleased to offer this Class-A warehouse to CAE and provide them with a strategic opportunity that will enhance their operations.”
Dermody Properties acquired the land in 2019 and began construction on LogistiCenter℠ at Sunset shortly after. Sean Zaher of CBRE represented Dermody Properties in the lease. David Wolf and Garrett Toft, also with CBRE, represented CAE.
About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $6.2 billion of total capital across all platforms nationwide, having acquired and developed approximately 100 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas and New Jersey. For more information, visit www.Dermody.com.
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