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The new owner plans to undertake a $20-million capital improvement program at the property that consists of 26 three-story apartment buildings spread out over 10 acres.
As part of the transaction Prologis plans to sell $3.5 billion of assets including $2.8 billion of non-strategic logistics properties and $700 million of office properties.
The approval process for the 19-story LEED Gold office tower, 200 Park, was streamlined due to the city's adoption of the downtown plan which allows conforming projects to be approved at a director's hearing.
ADISA's recent 2019 Annual Conference & Trade Show here is Las Vegas reported that 12 opportunity zone funds are currently covered by the alternative direct investment platform.
Trammell Crow Co. and Washington Capital Management have broken ground on a 2.7 million square foot industrial project in Las Vegas known as Golden Triangle.