California-based CapRock Partners invests in the valley
A Southern California private industrial real estate investment and development firm made its first play in the Las Vegas market in 2017, and is actively looking to invest in the valley.
Newport Beach-based CapRock Partners has acquired just under 300,000 square feet of multitenant industrial space in the west and southwest area of the Las Vegas Valley. The group has a portfolio of more than 11 million square feet, which includes its development and acquisitions.
“I think when you look at the metrics of the Las Vegas industrial market, it’s got very strong fundamentals — vacancy rate is low, 5 percent,” said Taylor Arnett, vice president of acquisitions at CapRock. “There’s an economy that I think is a lot more diversified than it was in the past.”
Arnett said Las Vegas economy is better off than it was a decade ago.
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