ALM Media Properties – March 29, 2013
LAS VEGAS—Prologis, Inc. has signed a lease agreement with World Pack USA, LLC., a repeat customer and leading 3PL, for a 303,000 square foot DC at Prologis Sunrise ndustrial Park. This agreement marks the largest new lease transaction in terms of building size in Las Vegas in the past five years.
The state-of-the-art facility is located near to I-15 via Craig Road and the Cheyenne Avenue interchange. The building, which has a 30-foot clear height, will be used for storage and distribution of consumer products.
“We are excited to enter the Nevada market and are optimistic that this facility will enhance operations and greatly benefit our customers.” said Shantal Smith, CEO, World Pack USA. “The Prologis team enabled us to complete the entire lease transaction, from site tour to execution, in less than three weeks.”
“We are happy to see that Las Vegas is starting to show signs of recovery,” said Jeff Foster, VP and market officer, Prologis Las Vegas. “This significant deal with World Pack USA lays the foundation for a strong quarter in the market and we are optimistic about a continued rise in occupancy levels.”
Within the Las Vegas market, Prologis owns and manages approximately 3.2 million square feet of distribution space through its 17 facilities.