The average lease rate on the deal is approximately $0.50 per sfper month (NNN), local industry sources tell GlobeSt.com. If Amazontakes down the full 286,000 sf, the value of the lease would beapproximately $8.6 million.
The building, 3817-3837 Bay Lake Trail, is located within LasVegas Corporate Center in North Las Vegas. Amazon hopes to have thedistribution center up and running in October, in time for theholiday shopping season. The lease is Amazon's first in SouthernNevada. It has operated a 786,000-sf facility near Reno since1999.
Colliers' brokers Daniel Doherty, Patti Dillon, and SuzetteLaGrange represented Denver-based ProLogis in the transaction. IfAmazon exercises its option to double its leasehold the buildingthe 1.4 million-sf park will be full, with no new construction onthe table. "Everyone is on the fence, waiting to see how the nextsix months plays out," he says.
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