NorthPoint Development has acquired a cluster of industrial buildings in North Las Vegas for $175 million, marking another significant transaction in the region’s industrial market amid declining property prices. The acquisition, facilitated by Colliers International, includes three fully leased buildings totaling over 1 million square feet, with tenants such as Amazon. These properties, located near Gowan and Pecos Roads, span 50 acres.
The seller, identified through property records, was Blackstone or its Link Logistics portfolio company. The deal was concluded in early June. NorthPoint, headquartered in Kansas City, Missouri, is already active in Southern Nevada, having started construction in 2022 on a large warehouse project in Apex Industrial Park and securing Hey Dude as a tenant.
Blackstone, which has a significant presence in the Nevada real estate market, did not provide comments on the sale.