Industrial

"With Dennis, we are getting a seasoned real estate executive with decades of experience in managing brokerage firms, specifically within the New Jersey market,” says David Amsterdam, Colliers president - investments, leasing and eastern region.

“Las Vegas is an attractive market for us as we expand our platform of last-mile, industrial logistics properties."

With much of the industrial market catering to ecommerce users, owner/users in need of sub 50,000 square feet are seeing the biggest challenges.

Alexander Cocoziello of Advance Realty says his firm and partner Camber plan to hold the properties as a long-term investment.

HFF officials state that the six-property portfolio is 100% leased on a triple-net basis.

Ecommerce accounts for 39% of all lease transactions, and the Southwest Valley is getting a bulk of the leasing and new development activity.

Last year's Amazon Prime Day brought $2.4 billion in sales, a roughly 60% boost over the previous year.

The metro area provides access to both the Midwest and New York.