Kevin Higgins, a senior vice president at Voit Real EstateServices who represented the building ownership, says that the dealclosed quickly considering the difficult market and that it is oneof the largest industrial leases signed in the market since 2008 interms of square footage and dollar value. The building is locatedwithin Hughes Cheyenne Center, a master-planned business park,situated in the North Las Vegas business district with immediateaccess to the 15 freeway.

Eric Smyth, founding principal of CIP Real Estate, points outthat the lease fills the largest vacancy within CIP Real Estate'sLas Vegas portfolio. The space will enable Cox to consolidate itsoperations, reduce expenses and increase efficiencies as itcontinues to expand its business.

Cox, which was represented in the lease by first vice presidentJeremy Green of CB Richard Ellis, has operated in the region formore than 40 years and is the dominant cable provider in the area.The total consideration for the long-term lease is approximately$5.5 million.