LPC Enters Las Vegas Market

Lincoln Property Co. has entered the Nevada market with its latest acquisition of the Hughes Airport Center, a 426,000-square-foot, six building industrial complex in the Las Vegas airport submarket. Lincoln Property Co. has been strategically expanding in the desert west region of the US, which includes Arizona, Nevada, Utah and New Mexico.

Lincoln Property entered contract on the asset before the onset of the pandemic, but decided to go through with the deal despite the sudden economic dislocation. “We had a lot of conversations about it, but industrial is one of the shining stars during the pandemic that is doing well,” David Krumwiede, EVP of Lincoln Property Co., tells GlobeSt.com. “The market is highly competitive, and we decided that we could work through any issues. Hopefully, this is a relatively short downturn, and we can battle our way through it.”