LAS VEGAS—Aug. 10, 2015—The Las Vegas office of Cushman & Wakefield | Commerce today announced a long-term industrial lease for the office/warehouse facility located at 4524 Lawrence Street in North Las Vegas, Nevada to the Shred-It Corporation. The property was built in 1998 for the U.S. Corp of Engineers and the U.S. Army Reserves. Curtis Sanders, Director with Cushman & Wakefield | Commerce, exclusively represented the landlord and was the listing broker of the property.
“The building was so well suited for the tenant that the landlord will deliver the facility in ‘turnkey condition,’” said Michael Dunn, Market Leader for the Las Vegas office of Cushman & Wakefield | Commerce. “This transaction also reflects an upward trend regarding lease terms.”
Shortly after the Military vacated the facility to expand into a significantly larger armory, Cushman & Wakefield | Commerce leased the property to the Shred-It Corporation. The Military left the facility in very good condition.
The lease term is for ten years (with “options”), and the monthly base rent is $0.75 per square foot. The building itself is 22,000 square feet and will be used for shredding and recycling of confidential documents. The property is located in close proximity to Interstate-15 Freeway. The building is situated on 1.24 acres of fenced land.
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About Cushman & Wakefield | Commerce
Cushman & Wakefield | Commerce, headquartered in Salt Lake City, Utah is an independently owned and operated member of the Cushman & Wakefield Alliance with offices throughout Utah, Nevada, Washington and Idaho. The firm partners with its sister company Cushman & Wakefield | NorthMarq to provide innovative commercial real estate solutions to occupier and investor clients, offering transaction services, capital markets services, occupier and investor services, and real estate advisory. Together the firms manage more than 52 million sq. ft. of retail, industrial, and office assets, have annual revenues of more than $100 million, and employ more than 750 professionals. Learn more at www.comre.com; www.cushwakenm.com. C&W | Commerce and C&W | NorthMarq are part of the Cushman & Wakefield platform, which is the world’s largest privately-held commercial real estate services firm with 250 offices in 60 countries globally. www.cushmanwakefield.com.
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Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 259 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management. To learn more, click http://www.cushmanwakefield.com/