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Las Vegas, NV - Las Vegas Color Graphics
4265 & 4270 W Sunset Road | Las Vegas, NV 89118
$16,000,000
Price7.69%
Cap Rate$1,230,600
NOI85,943
± SF Offering GLADescription
SRS National Net Lease Group is pleased to present the rare opportunity to acquire a NNN fully leased, single tenant industrial property in the heart of Las Vegas, NV. The property was built in 2000 and serves as the corporate headquarters, distribution, and printing facility for Las Vegas Color Graphics who occupies the entire building. Upon close of escrow, the tenant will execute a long term (12 year) corporate sale leaseback with two 5-year options to extend. Las Vegas Color Graphics is a highly regarded and well-respected commercial printing company which has been in business for over 40 years, and was started in 1978 by the current owner, specializing in printing, mailing, and signage for the casinos and various other local businesses.
The company employs over 200 people and occupies nearly 100,000 SF in the Las Vegas Area, including an adjacent building where they lease space for storage of their products. The lease is corporately guaranteed with landlord responsibilities limited to roof and structure and features annual increases of 3%. The subject site is located on Sunset Blvd (11,000 VPD), and is approximately 5 miles West of McCarran International Airport (Las Vegas Airport) and only 3 miles away from the Las Vegas Strip, placing it in the heart of the city.
Location
The asset is located in an industrial zone near Home Depot’s White Cap, Daltile Tile & Stone Gallery, Marshall Retail Group Distribution, and DHL Express ServicePoint. The subject is located approximately 1 mile from Interstate 215 (164,000 VPD) which connects to Interstate 15 (only 1.5 miles away from the site), both of which are Las Vegas’ major thoroughfares. Las Vegas currently boasts a low 4.9% vacancy factor on 135,000,000 square feet of industrial space and is rapidly expanding due to increased demands of cannabis growers for industrial space. The property is located in the most populous industrial sub-market of Las Vegas, the Southwest Las Vegas submarket, which possess 30 million square feet of industrial space at a staggeringly low 2.9% vacancy.
Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]NV #: B.1003241.LP